Americold Realty Trust (NYSE:COLD) Sets New 1-Year Low After Earnings Miss

Americold Realty Trust, Inc. (NYSE:COLD) reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $16.56 and last traded at $16.77, with a volume of 1369363 shares. The stock had previously closed at $18.41.

The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Americold Realty Trust had a negative net margin of 3.54% and a negative return on equity of 2.70%. During the same quarter in the previous year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis.

Americold Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th were given a dividend of $0.23 per share. This is an increase from Americold Realty Trust’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Friday, March 28th. Americold Realty Trust’s dividend payout ratio is currently -270.59%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotiabank lowered their price objective on shares of Americold Realty Trust from $28.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Thursday, April 10th. Citigroup lowered their price objective on Americold Realty Trust from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Barclays upgraded Americold Realty Trust from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $26.00 to $21.00 in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Americold Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Hedge Funds Weigh In On Americold Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in COLD. Brown Brothers Harriman & Co. bought a new stake in shares of Americold Realty Trust in the 4th quarter valued at about $25,000. Parallel Advisors LLC lifted its position in Americold Realty Trust by 68.1% during the first quarter. Parallel Advisors LLC now owns 2,091 shares of the company’s stock valued at $45,000 after acquiring an additional 847 shares during the last quarter. Assetmark Inc. boosted its stake in Americold Realty Trust by 64.2% in the first quarter. Assetmark Inc. now owns 2,113 shares of the company’s stock valued at $45,000 after acquiring an additional 826 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Americold Realty Trust by 1,081.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,221 shares of the company’s stock worth $48,000 after purchasing an additional 2,033 shares during the last quarter. Finally, Spire Wealth Management acquired a new position in shares of Americold Realty Trust during the first quarter worth $52,000. Hedge funds and other institutional investors own 98.14% of the company’s stock.

Americold Realty Trust Stock Performance

The firm has a fifty day moving average price of $20.35 and a 200 day moving average price of $21.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a market cap of $4.93 billion, a PE ratio of -50.97, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95.

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.