The Employees Retirement System of Texas has reduced its stake in Americold Realty Trust Inc. (NYSE:COLD) by 7.2% during the second quarter, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). The Texas retirement fund sold 15,000 shares, bringing its total holdings to 192,868 shares valued at approximately $3,207,000.
This adjustment comes as several other institutional investors have also altered their positions in Americold Realty Trust recently. For instance, Entropy Technologies LP acquired a new stake in the company in the first quarter, amounting to $494,000. Vision Capital Corp increased its holdings by 3.6%, now owning 1,237,320 shares valued at $26,553,000 after purchasing an additional 42,600 shares.
In further developments, Charles Schwab Investment Management Inc. raised its stake by 1.8% in the same quarter, now holding 4,229,542 shares worth $90,766,000 following the acquisition of 73,856 shares. Additionally, Earnest Partners LLC boosted its investment by 2.8%, leading to ownership of 2,595,058 shares valued at $55,690,000. Cbre Investment Management Listed Real Assets LLC also expanded its position by 14.8%, acquiring an additional 358,694 shares, bringing its total to 2,786,323 shares valued at $59,794,000. Collectively, hedge funds and institutional investors own approximately 98.14% of Americold’s stock.
Analysts have recently weighed in on Americold Realty Trust, with several firms adjusting their price targets. Scotiabank lowered its target from $14.00 to $12.00, maintaining a “sector perform” rating. Truist Financial reduced its price objective from $20.00 to $17.00 while keeping a “buy” rating. Barclays and KeyCorp also revised their targets to $17.00 and $18.00, respectively, with the latter setting an “overweight” rating.
As of now, five analysts have rated Americold Realty Trust with a “buy” rating, eight have issued a “hold” rating, and two have provided a “sell” rating. Data from MarketBeat reflects an average rating of “hold” with a consensus price target of $16.31.
On the trading front, shares of Americold Realty Trust opened at $10.80 on Thursday, reflecting a market capitalization of $3.08 billion. The stock is currently trading with a price-to-earnings (P/E) ratio of -56.86, a P/E/G ratio of 4.00, and a beta of 0.84. The company’s fifty-day moving average stands at $12.41, while its 200-day moving average is $14.74. Americold Realty Trust has experienced a fifty-two week low of $10.10 and a high of $24.22.
The company recently reported its quarterly earnings on November 6, revealing earnings per share (EPS) of $0.35, meeting analysts’ expectations. The revenue for the quarter reached $663.67 million, slightly above the anticipated $659.51 million. Despite these figures, Americold experienced a year-over-year revenue decline of 1.6%.
Looking ahead, Americold Realty Trust has set its fiscal year 2025 guidance at an EPS range of $1.390 to $1.450. Analysts forecast an EPS of $1.47 for the current fiscal year.
In addition, Americold recently announced a quarterly dividend of $0.23 per share, paid on October 15, 2023, to shareholders of record as of September 30. This dividend translates to an annualized amount of $0.92, yielding approximately 8.5%. The company’s payout ratio currently stands at -418.18%.
Americold Realty Trust, Inc. focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. The company operates through various segments, including Warehouse, Third-Party Managed, Transportation, and Other, primarily serving the storage needs for frozen and perishable food products.
For ongoing updates and insights on Americold Realty Trust and its investors, interested parties can visit HoldingsChannel.com for the latest 13F filings and insider trades.
