AmeriCold Realty Trust (COLD) Issues Earnings Results, Misses Estimates By $0.10 EPS

AmeriCold Realty Trust (NYSE:COLD) announced its quarterly earnings results on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.10), Fidelity Earnings reports. The business had revenue of $402.01 million for the quarter, compared to analysts’ expectations of $404.35 million. The firm’s revenue was up .9% compared to the same quarter last year.

Shares of NYSE COLD opened at $26.36 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.06. AmeriCold Realty Trust has a 52-week low of $16.13 and a 52-week high of $26.46.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a $0.1875 dividend. This represents a $0.75 annualized dividend 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 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 document filed with the SEC, which is available through this link. Also, major shareholder Fortress Investment Group Llc sold 7,235,529 shares of the company’s stock in a transaction 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.

Large investors have recently bought and sold shares of the company. Macquarie Group Ltd. bought a new stake in shares of AmeriCold Realty Trust in the 2nd quarter valued at $352,000. Millennium Management LLC boosted its stake in shares of AmeriCold Realty Trust by 16.1% in the 2nd quarter. Millennium Management LLC now owns 634,388 shares of the company’s stock valued at $13,969,000 after purchasing an additional 87,939 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of AmeriCold Realty Trust by 9.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 120,000 shares of the company’s stock valued at $3,002,000 after purchasing an additional 10,000 shares during the last quarter. Manning & Napier Group LLC boosted its stake in shares of AmeriCold Realty Trust by 15.2% in the 3rd quarter. Manning & Napier Group LLC now owns 63,940 shares of the company’s stock valued at $1,599,000 after purchasing an additional 8,459 shares during the last quarter. Finally, Soros Fund Management LLC bought a new stake in shares of AmeriCold Realty Trust in the 2nd quarter valued at $12,143,000. 60.65% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on COLD. Zacks Investment Research upgraded shares of AmeriCold Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday. Robert W. Baird upped their price target on shares of AmeriCold Realty Trust from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, September 18th. Bank of America upped their price target on shares of AmeriCold Realty Trust from $23.50 to $28.50 and gave the company a “buy” rating in a research report on Friday, September 21st. Raymond James upped their price target on shares of AmeriCold Realty Trust from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, September 19th. Finally, Royal Bank of Canada upped their price target on shares of AmeriCold Realty Trust from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $24.13.

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AmeriCold Realty Trust Company Profile

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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