Americold Realty Trust Inc. (COLD) came out with quarterly funds from operations (FFO) of $0.35 per share, missing the Zacks Consensus Estimate of $0.36 per share. This compares to FFO of $0.32 per share a year ago.
Get a deeper insight into the potential performance of Americold Realty Trust (COLD) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.
Cold Storage REITs like Americold and Lineage are essential due to their role in reducing food spoilage and supporting the cold chain infrastructure. Key growth drivers include online grocery adoption, increased frozen food consumption, recovering margins, and consolidation opportunities, making Cold Storage REITs attractive investments. Despite operational challenges, COLD's management has navigated well, and the company is poised for strong AFFO growth, justifying an overweight position.
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.