Americold Realty Trust (NYSE:COLD) Rating Increased to Sector Outperform at Scotiabank

Scotiabank upgraded shares of Americold Realty Trust (NYSE:COLD) from a sector perform rating to a sector outperform rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm currently has $30.00 target price on the stock, up from their previous target price of $27.00.

A number of other brokerages have also recently commented on COLD. Wells Fargo & Company started coverage on Americold Realty Trust in a research note on Thursday, April 25th. They issued an equal weight rating and a $24.00 price target on the stock. Raymond James upgraded shares of Americold Realty Trust from a market perform rating to an outperform rating and set a $31.00 price objective on the stock in a research report on Thursday, February 29th. Barclays dropped their target price on shares of Americold Realty Trust from $32.00 to $25.00 and set an equal weight rating for the company in a report on Wednesday, March 27th. KeyCorp reduced their price target on Americold Realty Trust from $37.00 to $32.00 and set an overweight rating on the stock in a report on Friday, March 22nd. Finally, Royal Bank of Canada decreased their price objective on shares of Americold Realty Trust from $34.00 to $32.00 and set an outperform rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Americold Realty Trust presently has a consensus rating of Moderate Buy and an average target price of $30.78.

Americold Realty Trust Price Performance

Americold Realty Trust stock opened at $25.37 on Thursday. The business has a 50-day simple moving average of $23.86 and a 200 day simple moving average of $26.58. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.15. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -21.68, a PEG ratio of 1.84 and a beta of 0.54. Americold Realty Trust has a 52 week low of $21.87 and a 52 week high of $33.90.

Americold Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.47%. Americold Realty Trust’s payout ratio is -75.21%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its stake in Americold Realty Trust by 16.7% in the 3rd quarter. M&T Bank Corp now owns 39,555 shares of the company’s stock worth $1,203,000 after purchasing an additional 5,646 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Americold Realty Trust by 5.5% in the third quarter. Principal Financial Group Inc. now owns 21,216 shares of the company’s stock worth $645,000 after buying an additional 1,101 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Americold Realty Trust by 0.9% in the third quarter. California Public Employees Retirement System now owns 503,595 shares of the company’s stock worth $15,314,000 after buying an additional 4,466 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Americold Realty Trust by 23.8% during the third quarter. Signaturefd LLC now owns 2,746 shares of the company’s stock valued at $84,000 after buying an additional 528 shares during the last quarter. Finally, abrdn plc increased its position in shares of Americold Realty Trust by 12.7% during the third quarter. abrdn plc now owns 868,584 shares of the company’s stock valued at $26,414,000 after acquiring an additional 97,592 shares in the last quarter. Hedge funds and other institutional investors own 98.14% of the company’s stock.

About Americold Realty Trust

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.