Americold Realty Trust, Inc. (NYSE:COLD) Declares Dividend Increase – $0.23 Per Share

Americold Realty Trust, Inc. (NYSE:COLD) declared a quarterly dividend on Monday, March 17th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Friday, March 28th. This is a 4.5% increase from Americold Realty Trust’s previous quarterly dividend of $0.22.

Americold Realty Trust has raised its dividend by an average of 30.8% annually over the last three years. Americold Realty Trust has a payout ratio of 195.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 $0.92 annual dividend with an expected future payout ratio of 57.5%.

Americold Realty Trust Stock Performance

NYSE COLD opened at $21.51 on Wednesday. The company has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $23.69. Americold Realty Trust has a 12-month low of $20.41 and a 12-month high of $30.45. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of -63.26, a PEG ratio of 1.66 and a beta of 0.57. 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 released its earnings results on Thursday, February 20th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.27. Americold Realty Trust had a negative return on equity of 2.70% and a negative net margin of 3.54%. The company had revenue of $666.44 million during the quarter, compared to analyst estimates of $684.03 million. On average, equities analysts forecast that Americold Realty Trust will post 1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COLD shares. Scotiabank raised their target price on shares of Americold Realty Trust from $27.00 to $28.00 and gave the stock a “sector outperform” rating in a report on Monday, March 10th. Truist Financial lowered their price target on shares of Americold Realty Trust from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Raymond James dropped 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 research note on Wednesday, December 11th. Finally, Citigroup lowered their price objective on 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Americold Realty Trust has an average rating of “Moderate Buy” and a consensus target price of $28.82.

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.