AmeriCold Realty Trust (COLD) Upgraded to “Hold” 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. “

Several other equities research analysts have also recently commented on COLD. Raymond James lifted their price target on shares of AmeriCold Realty Trust from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Wednesday, September 19th. Royal Bank of Canada boosted 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. Bank of America boosted 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. Finally, Robert W. Baird boosted 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. AmeriCold Realty Trust currently has a consensus rating of Buy and a consensus target price of $24.13.

Shares of NYSE COLD traded up $1.46 during trading on Friday, reaching $26.36. The company had a trading volume of 1,930,620 shares, compared to its average volume of 696,836. AmeriCold Realty Trust has a 52 week low of $16.13 and a 52 week high of $26.46. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.06.

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

The company 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. This represents a $0.75 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, September 27th.

In other news, Director Ronald W. Burkle sold 16,530,191 shares of the company’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 value of $389,120,696.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fortress Investment Group Llc sold 7,235,529 shares of the company’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 disclosure for this sale can be found here.

Several hedge funds have recently made changes to their positions in COLD. Wells Fargo & Company MN bought a new stake in shares of AmeriCold Realty Trust in the first quarter worth $596,000. California Public Employees Retirement System bought a new stake in shares of AmeriCold Realty Trust in the first quarter worth $191,000. UBS Group AG bought a new stake in shares of AmeriCold Realty Trust in the first quarter worth $231,000. The Manufacturers Life Insurance Company bought a new stake in shares of AmeriCold Realty Trust in the first quarter worth $810,000. Finally, California State Teachers Retirement System bought a new stake in shares of AmeriCold Realty Trust in the first quarter worth $1,530,000. 60.65% of the stock is currently owned by institutional investors and hedge funds.

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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