AmeriCold Realty Trust (COLD) Announces Quarterly Earnings Results

AmeriCold Realty Trust (NYSE:COLD) posted its earnings results on Thursday. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.10), Fidelity Earnings reports. The business had revenue of $402.01 million for the quarter, compared to the consensus estimate of $404.35 million. The company’s revenue for the quarter was up .9% compared to the same quarter last year.

Shares of NYSE:COLD traded up $1.46 during midday trading on Friday, reaching $26.36. 1,930,620 shares of the company were exchanged, compared to its average volume of 877,187. AmeriCold Realty Trust has a fifty-two week low of $16.13 and a fifty-two week high of $26.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.24 and a current ratio of 0.24.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued a dividend of $0.1875 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.85%.

COLD has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of AmeriCold Realty Trust from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, September 18th. Bank of America raised their price objective on shares of AmeriCold Realty Trust from $23.50 to $28.50 and gave the stock a “buy” rating in a report on Friday, September 21st. Royal Bank of Canada raised their price objective on shares of AmeriCold Realty Trust from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 10th. Zacks Investment Research upgraded shares of AmeriCold Realty Trust from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a report on Tuesday, August 14th. Finally, Raymond James raised their price objective on shares of AmeriCold Realty Trust from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $24.13.

In related news, Director Ronald W. Burkle sold 16,530,191 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $23.54, for a total value of $389,120,696.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Fortress Investment Group Llc sold 7,235,529 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $23.54, for a total transaction of $170,324,352.66. The disclosure for this sale can be found here.

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in AmeriCold Realty Trust by 10.6% in the third quarter. FMR LLC now owns 3,763,139 shares of the company’s stock valued at $94,154,000 after purchasing an additional 360,259 shares in the last quarter. Fairview Capital Investment Management LLC grew its position in AmeriCold Realty Trust by 13.3% in the third quarter. Fairview Capital Investment Management LLC now owns 2,983,600 shares of the company’s stock valued at $74,650,000 after purchasing an additional 350,000 shares in the last quarter. Teachers Insurance & Annuity Association of America grew its position in AmeriCold Realty Trust by 63.0% in the third quarter. Teachers Insurance & Annuity Association of America now owns 109,672 shares of the company’s stock valued at $2,744,000 after purchasing an additional 42,396 shares in the last quarter. American International Group Inc. grew its position in AmeriCold Realty Trust by 67.3% in the third quarter. American International Group Inc. now owns 57,274 shares of the company’s stock valued at $1,433,000 after purchasing an additional 23,045 shares in the last quarter. Finally, BlackRock Inc. grew its position in AmeriCold Realty Trust by 64.0% in the third quarter. BlackRock Inc. now owns 7,478,227 shares of the company’s stock valued at $187,104,000 after purchasing an additional 2,917,222 shares in the last quarter. 60.65% of the stock is owned by institutional investors and hedge funds.

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AmeriCold Realty Trust Company Profile

Americold is the world's largest owner and operator of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 156 temperature-controlled warehouses, with approximately 924 million refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina.

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