AmeriCold Realty Trust (COLD) Trading -1.5% Higher After Analyst Upgrade

Shares of AmeriCold Realty Trust (NYSE:COLD) traded up 1.5% during mid-day trading on Monday after Royal Bank of Canada raised their price target on the stock from $25.00 to $26.00. Royal Bank of Canada currently has a buy rating on the stock. AmeriCold Realty Trust traded as high as $23.32 and last traded at $22.88. 18,774 shares were traded during mid-day trading, a decline of 97% from the average session volume of 588,090 shares. The stock had previously closed at $23.24.

COLD has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of AmeriCold Realty Trust from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research note on Tuesday, April 17th. Robert W. Baird restated a “buy” rating and issued a $22.00 price target on shares of AmeriCold Realty Trust in a research note on Thursday, April 12th. Finally, Raymond James assumed coverage on shares of AmeriCold Realty Trust in a research note on Wednesday, May 9th. They issued an “outperform” rating and a $22.50 price target for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $21.75.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of AmeriCold Realty Trust by 35.7% during the second quarter. BlackRock Inc. now owns 4,561,005 shares of the company’s stock worth $100,437,000 after acquiring an additional 1,200,069 shares during the last quarter. Zimmer Partners LP bought a new position in shares of AmeriCold Realty Trust during the first quarter worth about $49,608,000. Centersquare Investment Management LLC bought a new position in shares of AmeriCold Realty Trust during the first quarter worth about $37,814,000. Bamco Inc. NY bought a new position in shares of AmeriCold Realty Trust during the first quarter worth about $29,163,000. Finally, Prudential Financial Inc. bought a new position in shares of AmeriCold Realty Trust during the first quarter worth about $21,504,000. Institutional investors and hedge funds own 62.95% of the company’s stock.

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.25 and a quick ratio of 0.25.

AmeriCold Realty Trust (NYSE:COLD) last released its quarterly earnings results on Thursday, August 9th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.10 by $0.19. The firm had revenue of $394.70 million for the quarter, compared to the consensus estimate of $392.08 million. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. analysts anticipate that AmeriCold Realty Trust will post 1.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $0.75 annualized dividend and a dividend yield of 3.26%.

AmeriCold Realty Trust Company Profile (NYSE:COLD)

Americold is the world's largest owner and operator of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 158 temperature-controlled warehouses, with approximately 934 million cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina.

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