Americold Realty Trust, Inc. (NYSE:COLD) Announces Quarterly Dividend of $0.23

Americold Realty Trust, Inc. (NYSE:COLD) declared a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Friday, March 28th will be paid a dividend of 0.23 per share on Tuesday, April 15th. This represents a $0.92 annualized dividend and a dividend yield of 4.30%. This is a 4.5% increase from Americold Realty Trust’s previous quarterly dividend of $0.22.

Americold Realty Trust has raised its dividend payment by an average of 30.8% per year over the last three years. Americold Realty Trust has a payout ratio of 187.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Americold Realty Trust to earn $1.60 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 55.0%.

Americold Realty Trust Stock Up 3.1 %

Shares of NYSE COLD opened at $21.39 on Monday. The stock has a market capitalization of $6.08 billion, a P/E ratio of -62.90, a PEG ratio of 1.66 and a beta of 0.57. The stock’s fifty day moving average is $21.73 and its 200 day moving average is $24.00. Americold Realty Trust has a 52 week low of $20.41 and a 52 week high of $30.45. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.15 and a current ratio of 0.15.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Barclays reduced their target price on Americold Realty Trust from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Raymond James lowered their target price on Americold Realty Trust from $31.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Scotiabank raised their price target on shares of Americold Realty Trust from $27.00 to $28.00 and gave the company a “sector outperform” rating in a research note on Monday, March 10th. Truist Financial decreased 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. Finally, Citigroup cut their target price on shares of Americold Realty Trust from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Americold Realty Trust Company Profile

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.