Americold Realty Trust (NYSE:COLD) Sets New 52-Week Low Following Analyst Downgrade

Key Points

• Americold Realty Trust hit a new 52-week low, trading as low as $13.63, after Evercore ISI downgraded its price target from $22.00 to $19.00.
• Evercore ISI maintains an "outperform" rating on the stock, while other analysts have also lowered their price targets, with a consensus price target of $20.00.
• The company announced a quarterly dividend of $0.23 per share, translating to an annualized dividend yield of 6.7%, despite a negative payout ratio of -484.21%.

Americold Realty Trust Inc. (NYSE:COLD - Get Free Report)'s stock price hit a new 52-week low on Monday after Evercore ISI lowered their price target on the stock from $22.00 to $19.00. Evercore ISI currently has an outperform rating on the stock. Americold Realty Trust traded as low as $13.63 and last traded at $13.58, with a volume of 11380 shares. The stock had previously closed at $13.97.

COLD has been the subject of several other research reports. KeyCorp reduced their price objective on shares of Americold Realty Trust from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Barclays reduced their price objective on shares of Americold Realty Trust from $21.00 to $20.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Wall Street Zen upgraded shares of Americold Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lowered shares of Americold Realty Trust from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $24.00 to $21.00 in a research report on Monday, June 23rd. Finally, Wells Fargo & Company reduced their price objective on shares of Americold Realty Trust from $18.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Institutional Trading of Americold Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Americold Realty Trust in the second quarter valued at approximately $206,317,000. Massachusetts Financial Services Co. MA raised its position in shares of Americold Realty Trust by 649.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,158,779 shares of the company's stock valued at $89,247,000 after purchasing an additional 3,603,716 shares during the period. Price T Rowe Associates Inc. MD increased its position in Americold Realty Trust by 1,567.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,960,873 shares of the company's stock worth $63,541,000 after acquiring an additional 2,783,264 shares during the period. Lasalle Investment Management Securities LLC raised its stake in Americold Realty Trust by 78.2% during the 2nd quarter. Lasalle Investment Management Securities LLC now owns 6,212,971 shares of the company's stock valued at $103,322,000 after purchasing an additional 2,726,809 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Americold Realty Trust in the 1st quarter worth $33,751,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

Americold Realty Trust Stock Performance

The firm's fifty day moving average price is $15.61 and its 200-day moving average price is $17.98. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.89 billion, a P/E ratio of -71.92, a P/E/G ratio of 4.32 and a beta of 0.85.

Americold Realty Trust (NYSE:COLD - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Americold Realty Trust had a negative net margin of 2.09% and a negative return on equity of 1.68%. The company had revenue of $650.75 million for the quarter, compared to the consensus estimate of $644.95 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The business's revenue was down 1.5% compared to the same quarter last year. As a group, research analysts forecast that Americold Realty Trust Inc. will post 1.47 EPS for the current fiscal year.

Americold Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.92 annualized dividend and a dividend yield of 6.7%. Americold Realty Trust's payout ratio is presently -484.21%.

About Americold Realty Trust

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm's real estate portfolio.

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