Americold Realty Trust Inc. (NYSE:COLD) has received a consensus rating of “Hold” from fifteen research firms currently covering the company, according to Marketbeat Ratings. Among these analysts, two issued sell ratings, ten assigned hold ratings, and three provided buy ratings. The average twelve-month price target stands at $13.92.
Recent reports from various analysts have reflected differing views on the company’s stock. On October 3, 2023, KeyCorp reduced its price target for Americold Realty Trust from $23.00 to $18.00, maintaining an “overweight” rating. Barclays followed suit on October 22, 2023, lowering its target price from $20.00 to $17.00, while also issuing an “overweight” rating. Scotiabank adjusted its price target down from $14.00 to $12.00, giving the stock a “sector perform” rating on November 12, 2023.
In a notable shift, Zacks Research upgraded Americold from a “strong sell” to a “hold” rating on November 24, 2023. Additionally, UBS Group raised its target price from $12.00 to $13.00 and assigned a “neutral” rating in a report released on November 30, 2023.
Quarterly Earnings and Dividend Announcement
Americold Realty Trust reported its quarterly earnings on November 6, 2023, revealing earnings per share (EPS) of $0.35, matching the analysts’ consensus estimate. The company generated revenue of $663.67 million, slightly exceeding predictions of $659.51 million. Despite this positive revenue performance, the firm recorded a negative net margin of 2.39% and a return on equity of -1.96%. Year-over-year revenue showed a decline of 1.6%.
For the current fiscal year, analysts anticipate Americold Realty Trust will post an EPS of $1.47. The company has provided guidance for fiscal year 2025, projecting an EPS range of $1.39 to $1.45.
In addition to its earnings announcement, Americold declared a quarterly dividend of $0.23 per share, payable on January 15, 2025, to shareholders of record as of December 31, 2023. This dividend represents an annualized yield of 7.0%, although the company’s current dividend payout ratio is significantly negative at -418.18%.
Institutional Investors Show Increased Interest
Recent activity from hedge funds indicates a growing interest in Americold Realty Trust. Caitong International Asset Management Co. Ltd significantly increased its holdings by 49,833.3% in the second quarter, now owning 1,498 shares valued at approximately $25,000. Similarly, LRI Investments LLC raised its position by 90.4% in the third quarter, acquiring an additional 1,026 shares for a total of 2,161 shares valued at $26,000.
Geneos Wealth Management Inc. doubled its holdings in the same quarter, now owning 1,612 shares worth about $27,000. Avalon Trust Co. also purchased a new stake in the third quarter, valued at approximately $32,000, while EverSource Wealth Advisors LLC increased its stake by 252.5%, owning 2,224 shares worth $37,000 after buying an additional 1,593 shares.
Overall, hedge funds and institutional investors collectively hold 98.14% of Americold Realty Trust’s stock, reflecting strong institutional confidence in the company’s long-term prospects.
Americold Realty Trust continues to solidify its position as a leader in temperature-controlled warehousing and logistics, with a focus on enhancing operational efficiency and product quality across its global network of cold storage facilities.
