Wells Fargo & Company Cuts Americold Realty Trust (NYSE:COLD) Price Target to $18.00

Americold Realty Trust (NYSE:COLD) had its target price trimmed by Wells Fargo & Company from $23.00 to $18.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages also recently commented on COLD. Robert W. Baird dropped their price objective on shares of Americold Realty Trust from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Barclays raised shares of Americold Realty Trust from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $26.00 to $21.00 in a research report on Wednesday, April 9th. Citigroup dropped their price objective on shares of Americold Realty Trust from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Finally, Scotiabank reissued a “sector perform” rating and issued a $20.00 price objective on shares of Americold Realty Trust in a research report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.09.

Americold Realty Trust Price Performance

Shares of COLD opened at $17.16 on Monday. Americold Realty Trust has a fifty-two week low of $16.56 and a fifty-two week high of $30.45. The firm’s 50 day moving average price is $19.62 and its 200 day moving average price is $21.29. The company has a market cap of $4.89 billion, a P/E ratio of -50.48, a PEG ratio of 1.66 and a beta of 0.95. 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 (NYSE:COLD) last announced its earnings results on Thursday, May 8th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.01). Americold Realty Trust had a negative return on equity of 2.70% and a negative net margin of 3.54%. The business had revenue of $628.98 million for the quarter, compared to analysts’ expectations of $667.18 million. During the same period in the previous year, the company earned $0.37 earnings per share. Americold Realty Trust’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts forecast that Americold Realty Trust will post 1.47 earnings per share for the current fiscal year.

Americold Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 5.36%. The ex-dividend date is Monday, June 30th. Americold Realty Trust’s payout ratio is -213.95%.

Insider Activity

In other Americold Realty Trust news, CEO George F. Jr. Chappelle purchased 110,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average price of $17.99 per share, for a total transaction of $1,978,900.00. Following the purchase, the chief executive officer now directly owns 110,000 shares in the company, valued at approximately $1,978,900. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jay Wells purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of $17.91 per share, with a total value of $179,100.00. Following the purchase, the chief financial officer now owns 10,000 shares in the company, valued at $179,100. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.23% of the company’s stock.

Institutional Trading of Americold Realty Trust

Large investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. acquired a new stake in Americold Realty Trust during the 4th quarter worth $25,000. GKV Capital Management Co. Inc. acquired a new stake in Americold Realty Trust during the 1st quarter worth $36,000. Parallel Advisors LLC boosted its stake in Americold Realty Trust by 68.1% during the 1st quarter. Parallel Advisors LLC now owns 2,091 shares of the company’s stock worth $45,000 after purchasing an additional 847 shares during the period. Assetmark Inc. boosted its stake in Americold Realty Trust by 64.2% during the 1st quarter. Assetmark Inc. now owns 2,113 shares of the company’s stock worth $45,000 after purchasing an additional 826 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Americold Realty Trust by 1,081.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,221 shares of the company’s stock worth $48,000 after acquiring an additional 2,033 shares during the period. Institutional investors and hedge funds own 98.14% of the company’s stock.

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.