Americold Realty Trust, Inc. (NYSE:COLD – Get Rating) announced a quarterly dividend on Friday, September 2nd, Wall Street Journal reports. Investors of record on Friday, September 30th will be given a dividend of 0.22 per share on Friday, October 14th. This represents a $0.88 annualized dividend and a yield of 3.04%. The ex-dividend date is Thursday, September 29th.
Americold Realty Trust has raised its dividend payment by an average of 7.8% per year over the last three years and has raised its dividend every year for the last 3 years. Americold Realty Trust has a payout ratio of 880.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Americold Realty Trust to earn $1.11 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 79.3%.
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Americold Realty Trust Stock Down 1.0 %
COLD stock opened at $28.99 on Friday. The company has a fifty day moving average price of $31.20 and a 200 day moving average price of $28.75. Americold Realty Trust has a 12 month low of $23.96 and a 12 month high of $37.78. The company has a market cap of $7.81 billion, a price-to-earnings ratio of -486.33, a price-to-earnings-growth ratio of 4.97 and a beta of 0.30. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.19 and a quick ratio of 0.19.
Americold Realty Trust (NYSE:COLD – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.21). Americold Realty Trust had a negative net
margin of 0.56% and a negative return on equity of 0.41%. The business had revenue of $729.76 million during the quarter, compared to analysts' expectations of $715.40 million. During the same quarter last year, the company earned $0.28 EPS. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts expect that Americold Realty Trust will post 0.94 earnings per share for the current year.
Hedge Funds Weigh In On Americold Realty Trust
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC purchased a new position in Americold Realty Trust in the 2nd quarter valued at about $202,000. Captrust Financial Advisors bought a new position in shares of Americold Realty Trust during the second quarter worth about $313,000. Legal & General Group Plc lifted its position in shares of Americold Realty Trust by 3.9% during the second quarter. Legal & General Group Plc now owns 1,753,158 shares of the company's stock worth $52,665,000 after purchasing an additional 65,634 shares during the last quarter. First Republic Investment Management Inc. lifted its position in shares of Americold Realty Trust by 7.7% during the second quarter. First Republic Investment Management Inc. now owns 77,336 shares of the company's stock worth $2,323,000 after purchasing an additional 5,520 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Americold Realty Trust by 165.7% during the second quarter. Jane Street Group LLC now owns 86,554 shares of the company's stock worth $2,600,000 after purchasing an additional 53,982 shares during the last quarter.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. Bank of America upgraded shares of Americold Realty Trust from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $28.00 to $30.00 in a research report on Thursday, June 2nd. Royal Bank of Canada downgraded shares of Americold Realty Trust from an "outperform" rating to a "sector perform" rating and set a $34.00 price target for the company. in a report on Monday, August 8th. Barclays cut their price target on shares of Americold Realty Trust from $29.00 to $28.00 and set an "underweight" rating for the company in a report on Tuesday, August 9th. Evercore ISI increased their price objective on shares of Americold Realty Trust to $33.00 in a research note on Monday, August 15th. Finally, Robert W. Baird raised their price target on shares of Americold Realty Trust from $29.00 to $33.00 and gave the stock an "outperform" rating in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.67.
Americold Realty Trust Company Profile
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Americold is the world's largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 185 temperature-controlled warehouses, with over 1 billion refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina.
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