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Americold Realty (COLD)
NYSE:COLD
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Americold Realty
(NYSE:COLD)
Rating:48Neutral
Price Target:
$16.50
▼(-2.19%Downside)
Positive Factors
Cost Savings
4Q AFFO per share beat consensus and estimates, mostly due to cost savings.
Pricing Power
COLD showed better ability to hold onto pricing power, with an increase in rent per pallet.
Negative Factors
Financial Performance
COLD reported weaker than expected results and lowered full-year guidance.
Operational Performance
Same-store operations took a notable dip as SSREV decelerated to a negative rate.
Americold Realty (COLD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.80B
Dividend Yield5.45%
Average Volume (3M)3.15M
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth-1.18%
EPS Growth62.96%
CountryUS
Employees13,755
SectorReal Estate
Sector Strength55
IndustryREIT - Industrial
Share Statistics
EPS (TTM)-0.06
Shares Outstanding284,725,600
10 Day Avg. Volume2,707,839
30 Day Avg. Volume3,148,781
Financial Highlights & Ratios
PEG Ratio9.84
Price to Book (P/B)2.02
Price to Sales (P/S)0.00
P/FCF Ratio-332.52
Enterprise Value/Market Cap2.32
Enterprise Value/Revenue1.05
Enterprise Value/Gross Profit13.26
Enterprise Value/Ebitda6.60
Forecast
1Y Price Target
$21.64Price Target Upside28.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
Americold Realty Business Overview & Revenue Model
Company DescriptionAmericold is the world's largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 185 temperature-controlled warehouses, with over 1 billion refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina. Americold's facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.
How the Company Makes MoneyAmericold Realty Trust generates revenue through leasing its temperature-controlled warehouse spaces to food producers, retailers, and distributors. The company earns income from both fixed rental fees for storage space and variable fees based on services such as handling, transportation, and value-added logistics solutions. Additionally, Americold benefits from its strategic partnerships with major food producers and retailers, which enhance its service offerings and expand its market reach. The company's revenue streams are significantly influenced by factors such as occupancy rates, service levels, and the stability of long-term contracts with its clients.
Americold Realty Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: -8.37%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive operational achievements and strategic developments, such as increased fixed commitments and successful pipeline execution. However, these were tempered by significant challenges, including revised guidance due to economic pressures and consumer confidence issues. The sentiment is balanced with notable highlights and lowlights.Q1-2025 Updates
Positive Updates
Increase in Fixed Commitment Contracts
Fixed commitment contracts increased to 60% of rent and storage revenue, achieving a long-term goal and demonstrating commercial excellence and strong customer relationships.
Labor Efficiency Improvements
Improved labor metrics with perm-to-temp hours ratio increasing to 78:22 and associate turnover decreasing by 300 basis points to 29%.
Development and Expansion Projects
Active development projects worth approximately $500 million are on track, including facilities in Kansas City, Allentown, and Dubai, with strong strategic partnerships driving growth.
Quarterly Dividend Increase
The board approved a 5% increase in the quarterly dividend to 23¢ per share, reflecting confidence in operational resilience and cash flow generation.
Successful New Business Pipeline
Americold has successfully closed on approximately half of their $200 million pipeline, ahead of last year's pace.
Acquisition in Houston
Acquired a facility in Houston for $127 million, including equipment upgrades, to support a significant retail customer win and potential future expansion.
Negative Updates
Economic and Consumer Confidence Challenges
Consumer confidence is at a low point, with tariffs and inflation fears impacting demand and causing customers to adjust product portfolios.
Occupancy and Revenue Pressures
Same-store economic occupancy declined approximately 270 basis points, and there are expectations of flat to 2% growth for revenue and occupancy.
Revised Guidance Due to Economic Environment
Revised full-year AFFO per share guidance to $1.42-$1.52 due to changes in the macroeconomic environment, including tariffs and inflation.
Pricing Pressure from Competitors
There is noted pricing pressure in the market from competitors using price to drive volumes, potentially impacting Americold's market share.
Exit from Underperforming Facilities
Strategic exits from five facilities due to underperformance, with additional two facilities identified for potential exit.
Company Guidance
During the Americold Realty Trust's First Quarter 2025 earnings call, management discussed several key metrics and guidance adjustments due to changing macroeconomic conditions. Fiscal year 2025 Adjusted Funds From Operations (AFFO) per share guidance was revised to between $1.42 and $1.52, reflecting headwinds such as tariffs, inflation risks, and declining consumer confidence. The company reported a decline in same-store economic occupancy by approximately 270 basis points sequentially from Q4 2024, with rent and storage revenue from fixed commitment contracts reaching 60% of total storage revenue, a notable achievement from under 40% three years ago. Labor metrics improved, with associate turnover decreasing by 300 basis points to 29%, and the perm-to-temp hours ratio increasing to 78:22. Additionally, same-store warehouse services margins rose by 110 basis points year-over-year to 11.2%. On the development front, Americold managed a pipeline totaling about $1 billion, with significant projects in Kansas City, Port Saint John, and Christchurch, among others. Despite these challenges, the company showed resilience with a strong start to the year, emphasizing its focus on operational priorities and customer partnerships.Americold Realty Financial Statement Overview
Summary
Americold Realty's financial performance is mixed. While the balance sheet shows stability with a moderate debt-to-equity ratio, negative net income and fluctuating free cash flow present challenges. Efforts to improve operational efficiency and manage debt levels are necessary to enhance financial stability.Income Statement
Americold Realty's income statement reveals a mixed performance. The company experienced a negative net income in recent periods, impacting net profit margins. Gross profit margins are stable, but revenue has shown a downward trend in the latest TTM period compared to previous years, indicating potential challenges in maintaining growth.45
Neutral
Balance Sheet
The balance sheet of Americold Realty shows a moderate debt-to-equity ratio, slightly increasing over time, which might indicate growing reliance on debt. The equity ratio is stable, providing some assurance of balance sheet health. However, the negative net income affects return on equity, signaling a need for improvement in profitability.55
Neutral
Cash Flow
Cash flow analysis shows fluctuating free cash flow with a recent decline in the TTM period. Operating cash flow remains positive, but the free cash flow to net income ratio is unfavorable due to negative net income. The company's cash flow management appears challenged by high capital expenditures, affecting free cash flow growth.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.63B | 2.67B | 2.67B | 2.91B | 2.71B | 1.99B |
| Gross Profit | 841.74M | 846.73M | 770.57M | 695.96M | 629.78M | 335.61M |
| EBITDA | 366.77M | 392.96M | 165.76M | 417.64M | 388.42M | 325.15M |
| Net Income | -120.43M | -94.31M | -336.21M | -19.44M | -30.45M | 24.54M |
Balance Sheet | ||||||
| Total Assets | 7.83B | 7.74B | 7.87B | 8.10B | 8.22B | 7.83B |
| Cash, Cash Equivalents and Short-Term Investments | 38.95M | 47.65M | 60.39M | 53.06M | 82.96M | 621.05M |
| Total Debt | 3.94B | 3.68B | 3.49B | 3.58B | 3.42B | 3.23B |
| Total Liabilities | 4.61B | 4.43B | 4.23B | 4.32B | 4.19B | 4.04B |
| Stockholders Equity | 3.19B | 3.28B | 3.62B | 3.77B | 4.02B | 3.79B |
Cash Flow | ||||||
| Free Cash Flow | 3.84M | 102.42M | 35.92M | -22.95M | -218.77M | -108.67M |
| Operating Cash Flow | 380.09M | 411.88M | 366.15M | 300.00M | 273.06M | 293.68M |
| Investing Cash Flow | -500.57M | -313.18M | -357.07M | -348.49M | -1.24B | -2.25B |
| Financing Cash Flow | 102.56M | -106.78M | -285.00K | 23.32M | 431.49M | 2.33B |
Americold Realty Technical Analysis
Negative
16.87
Price Trends
17.86
Negative
19.51
Negative
21.67
Negative
Market Momentum
-0.24
Negative
44.97
Neutral
26.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COLD, the sentiment is Negative. The current price of 16.87 is below the 20-day moving average (MA) of 16.96, below the 50-day MA of 17.86, and below the 200-day MA of 21.67, indicating a bearish trend. The MACD of -0.24 indicates Negative momentum. The RSI at 44.97 is Neutral, neither overbought nor oversold. The STOCH value of 26.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for COLD.
Americold Realty Risk Analysis
Americold Realty disclosed 55 risk factors in its most recent earnings report. Americold Realty reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Americold Realty Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $740.75M | 5.28 | 26.05% | 5.97% | -3.48% | 615.20% | |
77 Outperform | $1.60B | 10.98 | 7.78% | 13.30% | -1.33% | -8.62% | |
74 Outperform | $9.71B | 25.02 | 13.72% | 4.91% | 2.15% | -5.99% | |
63 Neutral | $6.87B | 19.10 | -1.13% | 7.17% | 4.77% | -25.03% | |
53 Neutral | $4.28B | 53.62 | 5.66% | 7.17% | -9.89% | -70.29% | |
49 Neutral | $10.08B | ― | -9.72% | 4.79% | ― | ― | |
48 Neutral | $4.80B | ― | -3.56% | 5.45% | -1.18% | 62.96% |
* Real Estate Sector Average
Performance Comparison
COLD
Americold Realty
16.87
-8.05
-32.30%
CUBE
Cubesmart
42.37
0.09
0.21%
NSA
National Storage Affiliates
31.82
-6.14
-16.17%
IIPR
Innovative Industrial Properties
57.12
-43.05
-42.98%
PLYM
Plymouth Industrial Reit
16.09
-4.09
-20.27%
LINE
Lineage, Inc.
44.09
-36.92
-45.57%
Americold Realty Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Americold Realty Announces Key Executive Appointments
Positive
Jun 2, 2025
On June 2, 2025, Americold Realty Trust announced key executive appointments to enhance operational execution and global growth. Robert S. Chambers was appointed to the newly created role of President, overseeing global operations, while M. Bryan Verbarendse succeeded Chambers as President, Americas. These leadership changes are part of Americold’s strategy to deepen customer relationships and unlock growth opportunities. The company also reaffirmed its 2025 full-year financial guidance, emphasizing its commitment to operational excellence and customer-centric growth.
The most recent analyst rating on (COLD) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Americold Realty stock, see the COLD Stock Forecast page.
Executive/Board ChangesShareholder Meetings
Americold Realty Stockholders Approve Key Proposals
Neutral
May 21, 2025
At the Company’s Annual Meeting of Stockholders for fiscal year 2025, held on May 20, 2025, several key proposals were voted on. These included the election of directors, with George F. Chappelle Jr. receiving the highest number of votes in favor, and the advisory vote on executive compensation, which saw a significant number of votes against. Additionally, the ratification of the independent registered public accounting firm was overwhelmingly approved, and an amendment to the company’s 2017 Equity Incentive Plan was also passed.
The most recent analyst rating on (COLD) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Americold Realty stock, see the COLD Stock Forecast page.
M&A TransactionsDividendsFinancial Disclosures
Americold Realty Announces Q1 2025 Financial Results
Neutral
May 8, 2025
On May 8, 2025, Americold Realty Trust announced its first quarter 2025 financial results, reporting an AFFO of $0.34 per share and a 5% increase in quarterly dividends. The company completed the acquisition of a Houston warehouse, securing a significant new retail customer, which enhances its industry-leading presence in the retail segment. Despite a 5.4% decrease in total revenues to $629.0 million and a net loss of $16.5 million, Americold remains confident in its long-term growth, adjusting its near-term outlook due to macroeconomic headwinds.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.