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Americold Realty
(NYSE:COLD)
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Rating:53Neutral
Price Target:
$14.00
â–¼(-8.32% Downside)
Action:Reiterated
Date:09/09/26
The score is primarily constrained by weak financial performance (large net losses and elevated leverage despite revenue growth) and bearish technical momentum (below key moving averages with negative MACD). Offsetting factors include a high dividend yield and an improving earnings-call setup, highlighted by raised AFFO guidance and a JV expected to reduce debt materially.
Positive Factors
Cold-chain scale
Americold’s large, globally distributed cold-storage network and meaningful market share provide operating scale in a fragmented industry. This footprint can support customer breadth, network density, and service capabilities that are difficult for smaller competitors to replicate over the next several quarters.
Negative Factors
Persistent unprofitability
Large recurring losses and negative gross and EBIT margins show that revenue growth has not yet translated into dependable earnings. Continued profitability deterioration can limit internal reinvestment, weaken returns on the asset base, and make operating performance more sensitive to costs and exceptional charges.
Read all positive and negative factors
Positive Factors
Negative Factors
Cold-chain scale
Americold’s large, globally distributed cold-storage network and meaningful market share provide operating scale in a fragmented industry. This footprint can support customer breadth, network density, and service capabilities that are difficult for smaller competitors to replicate over the next several quarters.
Read all positive factors
Americold Realty (COLD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.96B
Dividend Yield6.74%
Average Volume (3M)3.45M
Price to Earnings (P/E)―
Beta (1Y)0.80
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. Volume3,348,708
30 Day Avg. Volume3,454,841
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 Cap2.31
Enterprise Value/Revenue3.49
Enterprise Value/Gross Profit-82.58
Enterprise Value/Ebitda131.87
Forecast
1Y Price Target
$17.35Price Target Upside13.62% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)-1.22
Revenue Forecast (FY)$2.53B
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 operating temperature-controlled warehouses and charging customers for cold-chain services. Key revenue streams typically include: (1) Storage revenue: recurring fees for storing frozen and refrigerated products,...
Americold Realty Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 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
Negative
15.27
Price Trends
14.34
Negative
14.51
Negative
13.27
Positive
Market Momentum
-0.16
Positive
40.38
Neutral
22.22
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 15.27 is above the 20-day moving average (MA) of 14.22, above the 50-day MA of 14.34, and above the 200-day MA of 13.27, indicating a neutral trend. The MACD of -0.16 indicates Positive momentum. The RSI at 40.38 is Neutral, neither overbought nor oversold. The STOCH value of 22.22 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 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $124.73B | 28.29 | 7.90% | 3.32% | 7.35% | 21.58% | |
71 Outperform | $6.96B | 27.14 | 6.94% | 4.35% | 9.63% | 3.17% | |
69 Neutral | $8.12B | 21.16 | 13.42% | 3.34% | 8.44% | 34.29% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | $7.84B | -47.27 | -2.07% | 6.21% | 1.03% | 72.17% | |
54 Neutral | $480.24M | -9.99 | -9.81% | 3.49% | 2.69% | 48.87% | |
53 Neutral | $3.96B | -8.60 | -16.36% | 6.74% | -0.21% | -727.73% |
* Real Estate Sector Average
COLD
Americold Realty
13.81
1.29
10.31%
PLD
Prologis
129.29
18.32
16.51%
STAG
Stag Industrial
35.88
0.91
2.62%
FR
First Industrial Realty
59.30
9.65
19.45%
ILPT
Industrial Logistics Properties
7.19
1.97
37.61%
LINE
Lineage, Inc.
34.44
-3.29
-8.72%
Americold Realty Corporate Events
Business Operations and Strategy
Americold Realty Highlights Global Temperature-Controlled Warehousing Scale
Positive
Sep 9, 2026
On September 9, 2026, Americold Realty Trust, Inc. posted to its website an investor presentation outlining its global scale and role in temperature-controlled warehousing. The deck highlights the company’s extensive footprint of 224 warehou...
Business Operations and StrategyPrivate Placements and Financing
Americold Realty Forms Major Cold Storage Partnership
Positive
Aug 31, 2026
On August 31, 2026, Americold closed a previously announced North American cold storage joint venture with EQT’s Active Core Infrastructure fund, contributing 12 U.S. temperature‑controlled warehouse facilities valued at more than $1.3...
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...
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.