Americold Realty Trust, Inc. (NYSE:COLD) Announces $0.22 Quarterly Dividend

Americold Realty Trust, Inc. (NYSE:COLD) announced a quarterly dividend on Wednesday, May 22nd, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.22 per share on Monday, July 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, June 28th.

Americold Realty Trust has increased its dividend by an average of 43.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Americold Realty Trust has a payout ratio of 179.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Americold Realty Trust to earn $1.49 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 59.1%.

Americold Realty Trust Stock Performance

Shares of NYSE:COLD traded down $0.45 on Wednesday, reaching $25.30. 1,843,908 shares of the company’s stock were exchanged, compared to its average volume of 2,350,915. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of -21.87, a PEG ratio of 1.85 and a beta of 0.54. Americold Realty Trust has a fifty-two week low of $21.87 and a fifty-two week high of $33.90. The business’s 50-day moving average is $23.87 and its two-hundred day moving average is $26.60. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.15.

Analysts Set New Price Targets

A number of analysts have weighed in on COLD shares. Royal Bank of Canada dropped their target price on shares of Americold Realty Trust from $34.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, February 28th. KeyCorp reduced their price objective on shares of Americold Realty Trust from $37.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Barclays reduced their price objective on shares of Americold Realty Trust from $32.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 27th. Scotiabank assumed coverage on shares of Americold Realty Trust in a research note on Wednesday, March 27th. They set a “sector perform” rating and a $27.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on shares of Americold Realty Trust in a research note on Thursday, April 25th. They set an “equal weight” rating and a $24.00 price objective for the company. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Americold Realty Trust Company Profile

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.