Americold Realty Trust (NYSE:COLD) Sets New 52-Week Low - Here's What Happened

Key Points

• Shares of Americold Realty Trust hit a new 52-week low at $13.05, prompting discussions on whether it's time to sell.
• Analysts have downgraded the stock, with Zacks reducing its rating from "hold" to "strong sell" and several firms lowering their price targets significantly.
• Despite the challenges, Americold Realty Trust announced a quarterly dividend yield of 7.0%, reflecting a payout ratio of -484.21%.

Shares of Americold Realty Trust Inc. (NYSE:COLD - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $13.10 and last traded at $13.05, with a volume of 1290999 shares trading hands. The stock had previously closed at $13.25.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. 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 note on Tuesday, July 1st. Royal Bank Of Canada reduced their price target on Americold Realty Trust from $25.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, August 18th. Robert W. Baird dropped their price objective on Americold Realty Trust from $23.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. Evercore ISI reduced their target price on shares of Americold Realty Trust from $22.00 to $19.00 and set an "outperform" rating for the company in a report on Monday, September 8th. Finally, BNP Paribas Exane lowered shares of Americold Realty Trust from an "outperform" rating to a "neutral" rating and set a $18.00 price target for the company. in a research report on Thursday, June 12th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.00.

Americold Realty Trust Price Performance

The company's 50-day moving average is $14.96 and its 200 day moving average is $17.35. The stock has a market capitalization of $3.65 billion, a PE ratio of -67.53, a price-to-earnings-growth ratio of 4.02 and a beta of 0.84. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.13.

Americold Realty Trust (NYSE:COLD - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $650.75 million for the quarter, compared to analyst estimates of $644.95 million. During the same quarter in the prior year, the business posted $0.38 EPS. Americold Realty Trust's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts anticipate that Americold Realty Trust Inc. will post 1.47 EPS for the current year.

Americold Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 7.2%. The ex-dividend date is Tuesday, September 30th. Americold Realty Trust's payout ratio is presently -484.21%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its position in Americold Realty Trust by 7.8% in the first quarter. Principal Financial Group Inc. now owns 16,177,420 shares of the company's stock valued at $347,167,000 after buying an additional 1,169,063 shares during the last quarter. Norges Bank acquired a new stake in Americold Realty Trust during the 2nd quarter valued at approximately $206,317,000. State Street Corp boosted its holdings in shares of Americold Realty Trust by 4.8% in the 2nd quarter. State Street Corp now owns 10,705,522 shares of the company's stock valued at $180,437,000 after acquiring an additional 493,256 shares during the last quarter. Lasalle Investment Management Securities LLC increased its stake in shares of Americold Realty Trust by 78.2% in the second quarter. Lasalle Investment Management Securities LLC now owns 6,212,971 shares of the company's stock worth $103,322,000 after acquiring an additional 2,726,809 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Americold Realty Trust by 31.7% during the second quarter. American Century Companies Inc. now owns 5,158,328 shares of the company's stock worth $85,783,000 after purchasing an additional 1,241,241 shares during the last quarter. 98.14% of the stock is currently owned by hedge funds and other institutional investors.

Americold Realty Trust Company Profile

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.