AmeriCold Realty Trust (COLD) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of AmeriCold Realty Trust (NYSE:COLD) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

According to Zacks, “Americold Realty Trust is a real estate investment trust. It owns and operates temperature-controlled warehouses. The company operates primarily in the United States, Australia, New Zealand, Argentina and Canada. Americold Realty Trust is based in Atlanta, Georgia. “

A number of other research analysts have also issued reports on the stock. Bank of America raised their price objective on shares of AmeriCold Realty Trust from $23.50 to $28.50 and gave the company a buy rating in a report on Friday, September 21st. Raymond James raised their price objective on shares of AmeriCold Realty Trust from $25.00 to $27.00 and gave the company an outperform rating in a report on Wednesday, September 19th. Robert W. Baird raised their price objective on shares of AmeriCold Realty Trust from $25.00 to $26.00 and gave the company an outperform rating in a report on Tuesday, September 18th. Finally, Royal Bank of Canada raised their price objective on shares of AmeriCold Realty Trust from $25.00 to $26.00 and gave the company a buy rating in a report on Friday, August 10th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $24.13.

Shares of COLD stock traded up $1.46 on Friday, reaching $26.36. The company had a trading volume of 1,930,620 shares, compared to its average volume of 696,836. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.24 and a quick ratio of 0.24. AmeriCold Realty Trust has a one year low of $16.13 and a one year high of $26.46.

AmeriCold Realty Trust (NYSE:COLD) last posted its earnings results on Thursday, November 8th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.10). The firm had revenue of $402.01 million for the quarter, compared to analysts’ expectations of $404.35 million. AmeriCold Realty Trust’s revenue was up .9% on a year-over-year basis. On average, analysts anticipate that AmeriCold Realty Trust will post 1.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders 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 annualized dividend and a yield of 2.85%.

In other AmeriCold Realty Trust news, major shareholder Fortress Investment Group Llc sold 7,235,529 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald W. Burkle sold 16,530,191 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $23.54, for a total transaction of $389,120,696.14. The disclosure for this sale can be found here.

A number of institutional investors have recently added to or reduced their stakes in the business. Sarasin & Partners LLP raised its holdings in AmeriCold Realty Trust by 1.1% during the 3rd quarter. Sarasin & Partners LLP now owns 230,000 shares of the company’s stock worth $5,755,000 after purchasing an additional 2,478 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of AmeriCold Realty Trust by 40.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the company’s stock worth $218,000 after buying an additional 2,500 shares during the period. Rhumbline Advisers grew its position in shares of AmeriCold Realty Trust by 7.4% during the 2nd quarter. Rhumbline Advisers now owns 59,994 shares of the company’s stock worth $1,321,000 after buying an additional 4,130 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of AmeriCold Realty Trust by 46.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 14,580 shares of the company’s stock worth $365,000 after buying an additional 4,645 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of AmeriCold Realty Trust by 21.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,000 shares of the company’s stock worth $876,000 after buying an additional 6,100 shares during the period. Hedge funds and other institutional investors own 60.65% of the company’s stock.

About AmeriCold Realty Trust

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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