Americold Realty Trust (NYSE:COLD) Downgraded by Bank of America to Underperform

Bank of America cut shares of Americold Realty Trust (NYSE:COLD) from a buy rating to an underperform rating in a research note published on Thursday morning, MarketBeat.com reports. Bank of America currently has $13.00 target price on the stock.

COLD has been the subject of a number of other reports. Scotiabank boosted their price target on shares of Americold Realty Trust from $12.00 to $14.00 and gave the stock a “sector perform” rating in a research note on Friday, January 9th. JPMorgan Chase & Co. dropped their target price on shares of Americold Realty Trust from $15.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, November 14th. Robert W. Baird restated a “neutral” rating and issued a $13.00 price target (down from $16.00) on shares of Americold Realty Trust in a research report on Thursday, December 18th. UBS Group upped their price objective on Americold Realty Trust from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Finally, Barclays cut their target price on Americold Realty Trust from $17.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.85.

Americold Realty Trust Trading Down 3.7%

Shares of COLD opened at $12.53 on Thursday. The stock’s fifty day simple moving average is $12.54 and its 200-day simple moving average is $13.19. The firm has a market capitalization of $3.57 billion, a PE ratio of -56.97, a price-to-earnings-growth ratio of 4.62 and a beta of 0.91. Americold Realty Trust has a 12-month low of $10.10 and a 12-month high of $23.52. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.16.

Americold Realty Trust (NYSE:COLD) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.35 EPS for the quarter, hitting analysts’ consensus estimates of $0.35. Americold Realty Trust had a negative return on equity of 1.96% and a negative net margin of 2.39%.The firm had revenue of $663.67 million during the quarter, compared to analyst estimates of $659.51 million. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts predict that Americold Realty Trust will post 1.47 earnings per share for the current year.

Americold Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Americold Realty Trust’s payout ratio is presently -418.18%.

Hedge Funds Weigh In On Americold Realty Trust

Several institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its stake in Americold Realty Trust by 49,833.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,498 shares of the company’s stock worth $25,000 after purchasing an additional 1,495 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Americold Realty Trust by 100.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,612 shares of the company’s stock worth $27,000 after acquiring an additional 806 shares in the last quarter. LRI Investments LLC raised its holdings in shares of Americold Realty Trust by 90.4% during the third quarter. LRI Investments LLC now owns 2,161 shares of the company’s stock worth $26,000 after acquiring an additional 1,026 shares during the period. EverSource Wealth Advisors LLC lifted its position in Americold Realty Trust by 252.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,224 shares of the company’s stock valued at $37,000 after acquiring an additional 1,593 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its position in Americold Realty Trust by 10,869.6% in the 2nd quarter. Whipplewood Advisors LLC now owns 2,523 shares of the company’s stock valued at $42,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 98.14% of the company’s stock.

About Americold Realty Trust

Americold Realty Trust is a real estate investment trust specializing in temperature-controlled warehousing and logistics solutions. The company owns, operates, and develops a global network of cold storage facilities designed to support the storage, handling, and distribution of perishable products. Services include blast freezing, repacking, labeling, cross-docking, and transportation management, all integrated to streamline clients’ cold chain operations and help ensure product quality and safety from origin to point of consumption.

With roots dating back to the early 20th century, Americold has expanded through strategic acquisitions and facility development to become one of the world’s largest publicly traded cold storage providers.