PNC Financial Services Group Inc. Reduces Stake in Americold Realty Trust, Inc. (NYSE:COLD)

PNC Financial Services Group Inc. cut its holdings in shares of Americold Realty Trust, Inc. (NYSE:COLD) by 43.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,810 shares of the company’s stock after selling 3,678 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Americold Realty Trust were worth $146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new stake in Americold Realty Trust in the fourth quarter worth about $3,169,000. Asset Management One Co. Ltd. boosted its position in shares of Americold Realty Trust by 21.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 481,328 shares of the company’s stock valued at $14,719,000 after purchasing an additional 86,136 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Americold Realty Trust by 150.9% in the fourth quarter. BNP Paribas Financial Markets now owns 148,201 shares of the company’s stock worth $4,486,000 after purchasing an additional 89,135 shares during the period. New York Life Investment Management LLC raised its holdings in Americold Realty Trust by 671.9% in the fourth quarter. New York Life Investment Management LLC now owns 92,920 shares of the company’s stock worth $2,813,000 after purchasing an additional 80,882 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Americold Realty Trust by 28.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 190,192 shares of the company’s stock valued at $5,757,000 after buying an additional 42,200 shares during the period. Institutional investors own 98.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on COLD shares. Wells Fargo & Company began coverage on shares of Americold Realty Trust in a research report on Thursday, April 25th. They issued an “equal weight” rating and a $24.00 target price on the stock. Scotiabank upgraded shares of Americold Realty Trust from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Thursday, May 23rd. JPMorgan Chase & Co. upgraded shares of Americold Realty Trust from a “neutral” rating to an “overweight” rating and set a $30.00 target price for the company in a report on Wednesday, June 26th. KeyCorp cut their price target on Americold Realty Trust from $37.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Finally, Wolfe Research upgraded Americold Realty Trust from a “peer perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Monday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.60.

Americold Realty Trust Price Performance

COLD opened at $26.29 on Friday. The company’s 50-day simple moving average is $25.06 and its two-hundred day simple moving average is $26.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $7.47 billion, a P/E ratio of -22.47, a P/E/G ratio of 1.83 and a beta of 0.59. Americold Realty Trust, Inc. has a 52-week low of $21.87 and a 52-week high of $33.90.

Americold Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Friday, June 28th. Americold Realty Trust’s dividend payout ratio is currently -75.21%.

Americold Realty Trust Profile

Americold is a global leader in temperature-controlled logistics real estate and value added services. Focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, Americold owns and/or operates 245 temperature-controlled warehouses, with approximately 1.5 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America.