Citigroup Lowers Americold Realty Trust (NYSE:COLD) Price Target to $23.00

Americold Realty Trust (NYSE:COLD) had its target price reduced by Citigroup from $25.00 to $23.00 in a report issued on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

COLD has been the topic of several other reports. Scotiabank lifted their price objective on shares of Americold Realty Trust from $27.00 to $28.00 and gave the company a “sector outperform” rating in a report on Monday, March 10th. Raymond James cut their price target on shares of Americold Realty Trust from $31.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. Finally, Truist Financial cut their price target on shares of Americold Realty Trust from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.82.

Americold Realty Trust Stock Performance

Shares of COLD stock opened at $21.29 on Friday. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of -62.60, a PEG ratio of 1.66 and a beta of 0.57. The company’s 50 day moving average is $21.79 and its 200 day moving average is $23.75. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.11. Americold Realty Trust has a 52-week low of $20.41 and a 52-week high of $30.45.

Americold Realty Trust (NYSE:COLD) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.27. The company had revenue of $666.44 million for the quarter, compared to analyst estimates of $684.03 million. Americold Realty Trust had a negative net margin of 3.54% and a negative return on equity of 2.70%. On average, sell-side analysts anticipate that Americold Realty Trust will post 1.47 EPS for the current fiscal year.

Americold Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.23 per share. This is an increase from Americold Realty Trust’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Friday, March 28th. Americold Realty Trust’s payout ratio is presently -270.59%.

Institutional Investors Weigh In On Americold Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new position in Americold Realty Trust during the fourth quarter valued at $25,000. Venturi Wealth Management LLC lifted its position in Americold Realty Trust by 1,081.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,221 shares of the company’s stock valued at $48,000 after purchasing an additional 2,033 shares during the period. Loomis Sayles & Co. L P acquired a new position in Americold Realty Trust during the third quarter valued at $55,000. Vestcor Inc acquired a new position in Americold Realty Trust during the fourth quarter valued at $86,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Americold Realty Trust during the fourth quarter valued at $86,000. 98.14% of the stock is currently owned by institutional investors and hedge funds.

About Americold Realty Trust

Americold Realty Trust, Inc is a real estate investment trust, which focuses on the ownership, operation, development, and acquisition of temperature-controlled warehouses. It operates through the following segments: Warehouse, Third-Party Managed, Transportation, and Other. The Warehouse segment collects rent and storage fees from customers to store frozen and perishable food and other products within the firm’s real estate portfolio.