Americold Realty Trust (COLD) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Americold Realty Trust (COLD) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Cold storage facilities are specialized, capital intensive, and expensive, so REITs often avoid them. Americold Realty or COLD is a leading cold storage REIT that has seen significant growth since going public in 2018, but recent performance has slowed. Despite recent challenges, COLD has potential for valuation improvement or acquisition, offering opportunities for shareholder value.
While the top- and bottom-line numbers for Americold Realty Trust (COLD) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Americold Realty Trust Inc. (COLD) came out with quarterly funds from operations (FFO) of $0.38 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to FFO of $0.28 per share a year ago.
Beyond analysts' top -and-bottom-line estimates for Americold Realty Trust (COLD), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
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Even with broad-based economic uncertainty, the Zacks REIT and Equity Trust - Other industry players such as LAMR, COLD and FPI are likely to benefit from healthy fundamentals and improving demand.
Americold increased guidance for 2024 by 3.6%, with year-over-year growth at 11.8%. Americold invests in warehouses for cold storage, with a unique Warehouse Services segment. Despite declining share prices, Americold has shown strong AFFO per share growth and outperformed expectations. Dipping occupancy is a challenge, but commentary implies occupancy recovering in second half.