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Americold Realty
(NYSE:COLD)
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Rating:57Neutral
Price Target:
$15.50
â–²(8.24% Upside)
Action:Reiterated
Date:08/10/26
The score is held back most by weak financial profitability and elevated leverage despite strong revenue growth and positive operating cash flow. Offsetting factors include constructive earnings-call updates (raised AFFO guidance and a concrete deleveraging plan via the EQT JV) and a supportive dividend yield, while technical signals remain mixed and do not provide a strong momentum tailwind.
Positive Factors
Market Leadership & Global Footprint
Americold's scale and global network create durable competitive advantages in cold-chain logistics. A broad international footprint and long industry tenure support deep customer relationships, cross-border contract opportunities, and pricing leverage that persist through cycles and underpin long-term revenue stability.
Negative Factors
Elevated Leverage
High and rising leverage constrains strategic optionality and heightens exposure to interest-rate and refinancing swings. Even with planned asset sales, elevated net debt relative to equity keeps coverage metrics stressed and limits capacity for opportunistic M&A or accelerated return of capital without further deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Market Leadership & Global Footprint
Americold's scale and global network create durable competitive advantages in cold-chain logistics. A broad international footprint and long industry tenure support deep customer relationships, cross-border contract opportunities, and pricing leverage that persist through cycles and underpin long-term revenue stability.
Read all positive factors
Americold Realty (COLD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.31B
Dividend Yield6.13%
Average Volume (3M)4.13M
Price to Earnings (P/E)―
Beta (1Y)0.75
Revenue Growth-0.21%
EPS Growth-727.73%
CountryUS
Employees12,690
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)-1.59
Shares Outstanding285,480,560
10 Day Avg. Volume4,402,859
30 Day Avg. Volume4,128,071
Financial Highlights & Ratios
PEG Ratio-1.52
Price to Book (P/B)1.27
Price to Sales (P/S)1.41
P/FCF Ratio-16.92
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$16.30Price Target Upside13.83% Upside
Rating ConsensusHold
Number of Analyst Covering11
EPS Forecast (FY)-0.73
Revenue Forecast (FY)$2.49B
Americold Realty Business Overview & Revenue Model
Company Description
Americold is recognized as the leading publicly traded Real Estate Investment Trust worldwide, dedicated to the acquisition, development, operation, and ownership of temperature-controlled warehousing. Headquartered in Atlanta, Georgia, the compan...
How the Company Makes Money
Americold primarily makes money by providing temperature-controlled warehouse and logistics services and, as a REIT, earning income tied to its cold-storage real estate portfolio. Key revenue streams generally include: (1) Storage revenue: fees ch...
Americold Realty Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive and improving operating picture: sequential and year-over-year occupancy and inventory improvements, pricing gains, new-business wins across geographies and adjacencies, meaningful cost reductions, and a strategic EQT JV expected to materially delever the balance sheet. Major negatives included a large noncash impairment ($298.8M) tied to two automated facilities, reporting and AFFO dilution effects from the JV, ongoing input and power cost pressures, and remaining high absolute debt levels. On balance, the company presented multiple material positive operational and financial developments that outweigh the noted challenges.Positive Updates
AFFO Per Share Outperformance
Second quarter AFFO per share of $0.35, ahead of expectations and marking the fourth consecutive quarter of AFFO per share meeting or exceeding analyst consensus.
Negative Updates
Large Noncash Impairment and Facility Wind-Downs
Recorded a $298.8 million noncash impairment in Q2 related to Lancaster and Plainville, with both facilities to be classified as held for sale and operations wound down due to returns not meeting expectations.
Read all updates
Q2-2026 Updates
Positive
Negative
AFFO Per Share Outperformance
Second quarter AFFO per share of $0.35, ahead of expectations and marking the fourth consecutive quarter of AFFO per share meeting or exceeding analyst consensus.
Read all positive updates
Company Guidance
Americold raised full-year AFFO guidance to $1.26–$1.32 per share (midpoint +$0.04), noting the EQT JV will create an AFFO headwind of ~$0.05 this year but that base-business outperformance more than offsets it; same-store revenue is now expected at $2.03B–$2.09B and same-store NOI at $660M–$695M (core EBITDA $570M–$600M), with interest expense of ~$155M–$160M. The company expects reported revenue/NOI to be roughly $230M lower due to the planned third‑quarter close of the 70/30 JV (Americold 30% interest) to which it will contribute 12 assets valued at ≈$1.3B (blended cap rate ~7% / ≈$3,300 per pallet); proceeds will be used to repay ~$1.1B of debt (Q2 debt was $4.3B), cutting borrowings by ~25% and lowering leverage by ~0.75x toward a ≤6x target. Management also said same‑store revenue should be flat to modestly positive for 2026 (vs. a prior ~2.5% decline expectation), revised economic‑occupancy guidance to roughly +100 bps to -200 bps for the year, held CapEx guidance steady, and will include its 30% JV earnings and new management fees/reimbursed operating expenses in future AFFO/revenue reporting.Americold Realty Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
46
Neutral
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.61B | 2.60B | 2.67B | 2.67B | 2.91B | 2.71B |
| Gross Profit | -110.51M | 104.66M | 846.73M | 770.57M | 695.96M | 629.78M |
| EBITDA | 69.20M | 379.40M | 392.96M | 165.76M | 417.64M | 388.42M |
| Net Income | -456.07M | -114.55M | -94.31M | -336.21M | -19.44M | -30.45M |
Balance Sheet | ||||||
| Total Assets | 7.81B | 8.12B | 7.74B | 7.87B | 8.10B | 8.22B |
| Cash, Cash Equivalents and Short-Term Investments | 40.47M | 136.86M | 47.65M | 60.39M | 53.06M | 82.96M |
| Total Debt | 4.62B | 4.50B | 3.68B | 3.49B | 3.58B | 3.42B |
| Total Liabilities | 5.36B | 5.20B | 4.43B | 4.23B | 4.32B | 4.19B |
| Stockholders Equity | 2.41B | 2.88B | 3.28B | 3.62B | 3.77B | 4.02B |
Cash Flow | ||||||
| Free Cash Flow | -117.81M | -217.20M | 102.42M | 35.92M | -22.95M | -218.77M |
| Operating Cash Flow | 349.12M | 359.64M | 411.88M | 366.15M | 300.00M | 273.06M |
| Investing Cash Flow | -504.90M | -658.00M | -313.18M | -357.07M | -348.49M | -1.24B |
| Financing Cash Flow | 362.84M | 383.26M | -106.78M | -285.00K | 23.32M | 431.49M |
Americold Realty Technical Analysis
Positive
14.32
Price Trends
14.92
Positive
14.04
Positive
12.87
Positive
Market Momentum
>-0.01
Negative
53.28
Neutral
65.22
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COLD, the sentiment is Positive. The current price of 14.32 is below the 20-day moving average (MA) of 14.58, below the 50-day MA of 14.92, and above the 200-day MA of 12.87, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 53.28 is Neutral, neither overbought nor oversold. The STOCH value of 65.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for COLD.
Americold Realty Risk Analysis
Americold Realty disclosed 49 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $136.64B | 31.26 | 7.90% | 2.82% | 7.35% | 21.58% | |
74 Outperform | $60.63B | 30.71 | 22.12% | 3.72% | 2.97% | 14.30% | |
73 Outperform | $32.64B | 32.51 | 7.14% | 4.39% | 4.16% | -1.68% | |
67 Neutral | $9.38B | 28.21 | 12.45% | 5.01% | 3.86% | -10.98% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | $9.51B | -57.29 | -2.07% | 5.12% | 1.03% | 72.17% | |
57 Neutral | $4.31B | -9.46 | -16.36% | 6.42% | -0.21% | -727.73% |
* Real Estate Sector Average
COLD
Americold Realty
15.02
1.08
7.75%
CUBE
Cubesmart
41.18
2.31
5.96%
EXR
Extra Space Storage
147.26
10.86
7.97%
PLD
Prologis
140.68
31.92
29.35%
PSA
Public Storage
322.74
40.73
14.44%
LINE
Lineage, Inc.
41.46
3.42
9.00%
Americold Realty Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Americold Realty Realigns Segments, Recasts Historical Reporting
Neutral
Aug 6, 2026
Americold Realty Trust, Inc. said it has revised its internal operating segment structure, and during the quarter ended March 31, 2026, combined its Warehouse and former Third-Party Managed segments, leaving two reportable segments: Warehouse and ...
Business Operations and StrategyFinancial Disclosures
Americold Realty Posts Q2 Results, Raises 2026 Guidance
Positive
Aug 6, 2026
Americold Realty Trust reported its second-quarter 2026 results on August 6, 2026, with total revenue rising 1.9% year over year to $662.9 million, driven by transportation services, rate increases in its same-store warehouse pool, and favorable f...
Business Operations and StrategyFinancial Disclosures
Americold Realty Plans Asset Sales and Impairment Charge
Negative
Jul 23, 2026
On July 21, 2026, Americold Realty Trust agreed with ADUSA Distribution, a unit of Ahold Delhaize USA, to wind down operations at its automated retail distribution center in Lancaster, Pa., by December 31, 2026, with an option to extend by six mon...
Business Operations and StrategyPrivate Placements and Financing
Americold Realty Amends and Expands Syndicated Credit Facility
Positive
Jun 24, 2026
On June 23, 2026, Americold Realty Trust, Inc. and its operating partnership entered into an amended and restated syndicated credit facility with Bank of America and other lenders, replacing a 2022 agreement. The unsecured facility now comprises a...
Business Operations and StrategyFinancial Disclosures
Americold Realty Highlights Long-Term Cold Storage Growth Strategy
Positive
Jun 1, 2026
On June 1, 2026, Americold Realty published an investor presentation on its website providing supplemental financial and operational information and positioning itself as a compelling long-term growth story in the cold storage sector. The deck hig...
Business Operations and StrategyPrivate Placements and Financing
Americold Realty Extends Maturity of Term Loan Facility
Positive
May 22, 2026
On May 18, 2026, Americold Realty Operating Partnership, L.P., a subsidiary of Americold Realty Trust, Inc., amended its existing credit agreement with Bank of America, N.A. and a syndicate of lenders. The Fourth Amendment extends the maturity dat...
Executive/Board ChangesShareholder Meetings
Americold Realty Shareholders Weigh Governance and Executive Pay
Neutral
May 19, 2026
At its 2026 annual meeting held on May 18, Americold Realty Trust, Inc. shareholders voted on a slate of director nominees, with most candidates receiving strong support but notable opposition to some board members, including Mark R. Patterson, wh...
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.