NYSE:COLD

Stock Analysis Report

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Executive Summary

Americold is the world’s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses.


Snowflake Analysis

Acceptable track record second-rate dividend payer.

Share Price & News

How has Americold Realty Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: COLD's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

2.7%

COLD

4.6%

US REITs

2.8%

US Market


1 Year Return

16.1%

COLD

-9.7%

US REITs

9.3%

US Market

Return vs Industry: COLD exceeded the US REITs industry which returned -9.7% over the past year.

Return vs Market: COLD exceeded the US Market which returned 9.3% over the past year.


Shareholder returns

COLDIndustryMarket
7 Day2.7%4.6%2.8%
30 Day22.1%5.6%8.9%
90 Day7.2%-14.3%-0.5%
1 Year18.9%16.1%-5.9%-9.7%11.8%9.3%
3 Yearn/a11.3%-2.5%31.4%22.7%
5 Yearn/a42.0%12.7%58.7%40.9%

Price Volatility Vs. Market

How volatile is Americold Realty Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Americold Realty Trust undervalued compared to its fair value and its price relative to the market?

23.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: COLD ($35.76) is trading below our estimate of fair value ($46.52)

Significantly Below Fair Value: COLD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: COLD is poor value based on its PE Ratio (90.2x) compared to the REITs industry average (27.7x).

PE vs Market: COLD is poor value based on its PE Ratio (90.2x) compared to the US market (15.7x).


Price to Earnings Growth Ratio

PEG Ratio: COLD is poor value based on its PEG Ratio (5.3x)


Price to Book Ratio

PB vs Industry: COLD is overvalued based on its PB Ratio (3.5x) compared to the US REITs industry average (1.3x).


Next Steps

Future Growth

How is Americold Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

17.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COLD's forecast earnings growth (17% per year) is above the savings rate (2.2%).

Earnings vs Market: COLD's earnings (17% per year) are forecast to grow slower than the US market (22% per year).

High Growth Earnings: COLD's earnings are forecast to grow, but not significantly.

Revenue vs Market: COLD's revenue (6.3% per year) is forecast to grow slower than the US market (8.8% per year).

High Growth Revenue: COLD's revenue (6.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: COLD's Return on Equity is forecast to be low in 3 years time (6.9%).


Next Steps

Past Performance

How has Americold Realty Trust performed over the past 5 years?

77.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COLD has a large one-off loss of $29.1M impacting its March 31 2020 financial results.

Growing Profit Margin: COLD's current net profit margins (4.1%) are higher than last year (3.2%).


Past Earnings Growth Analysis

Earnings Trend: COLD has become profitable over the past 5 years, growing earnings by 77.1% per year.

Accelerating Growth: COLD's earnings growth over the past year (47.5%) is below its 5-year average (77.1% per year).

Earnings vs Industry: COLD earnings growth over the past year (47.5%) exceeded the REITs industry 5.3%.


Return on Equity

High ROE: COLD's Return on Equity (3.8%) is considered low.


Next Steps

Financial Health

How is Americold Realty Trust's financial position?


Financial Position Analysis

Short Term Liabilities: COLD's short term assets ($510.7M) exceed its short term liabilities ($341.1M).

Long Term Liabilities: COLD's short term assets ($510.7M) do not cover its long term liabilities ($2.1B).


Debt to Equity History and Analysis

Debt Level: COLD's debt to equity ratio (90%) is considered high.

Reducing Debt: Insufficient data to determine if COLD's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: COLD's debt is not well covered by operating cash flow (14.5%).

Interest Coverage: COLD's interest payments on its debt are not well covered by EBIT (2.1x coverage).


Balance Sheet


Next Steps

Dividend

What is Americold Realty Trust's current dividend yield, its reliability and sustainability?

2.35%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: COLD's dividend (2.35%) is higher than the bottom 25% of dividend payers in the US market (1.69%).

High Dividend: COLD's dividend (2.35%) is low compared to the top 25% of dividend payers in the US market (4.55%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, COLD has been paying a dividend for less than 10 years.

Growing Dividend: COLD's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (72%), COLD's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: COLD's dividends in 3 years are forecast to be thoroughly covered by earnings (0.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.0yrs

Average management tenure


CEO

Fred Boehler (52yo)

4.5yrs

Tenure

US$4,397,923

Compensation

Mr. Fred W. Boehler has been the Chief Executive Officer of AmeriCold Logistics, LLC since February 4, 2016 and its President since March 31, 2014. Mr. Boehler has served as President, Chief Executive Offi ...


CEO Compensation Analysis

Compensation vs Market: Fred's total compensation ($USD4.40M) is below average for companies of similar size in the US market ($USD7.32M).

Compensation vs Earnings: Fred's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Fred Boehler
CEO, President & Trustee4.5yrsUS$4.40m0.15% $11.0m
Marc Smernoff
CFO & Executive VP4.83yrsUS$1.87m0.059% $4.2m
Carlos Rodriguez
Executive VP & COO1.75yrsUS$2.25m0.0044% $315.1k
James Snyder
Chief Legal Officer2.25yrsUS$1.28m0.0035% $252.1k
David Stuver
Executive Vice President of Supply Chain Solutionsno dataUS$1.28m0.0072% $514.2k
James Harron
Executive VP & Chief Investment Officer1.75yrsno data0.0016% $111.7k
Thomas Novosel
Chief Accounting Officer & Senior VP6.67yrsUS$1.56m0.0060% $432.6k
Sanjay Lall
Executive VP & Chief Information Officer1.17yrsno datano data
Scott Henderson
Senior VP of Capital Markets1.75yrsno datano data
Kim Henderson
Director of Communications & Public Relationsno datano datano data

2.0yrs

Average Tenure

52yo

Average Age

Experienced Management: COLD's management team is considered experienced (2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Fred Boehler
CEO, President & Trustee4.5yrsUS$4.40m0.15% $11.0m
David Neithercut
Independent Trustee1.08yrsUS$151.51kno data
Kelly Barrett
Independent Trustee1.08yrsUS$151.51k0.0030% $214.9k
George Alburger
Independent Trustee10.08yrsUS$309.04k0.0064% $460.5k
James Heistand
Lead Independent Trustee2.42yrsUS$271.50k0.022% $1.6m
Mark Patterson
Independent Chairman of Board1.25yrsUS$430.03k0.0095% $684.0k
Michelle MacKay
Independent Trustee2.42yrsUS$275.67k0.0064% $460.5k
Antonio Fernandez
Independent Trustee1.08yrsUS$150.75kno data
Andrew Power
Independent Trustee2.42yrsUS$265.32k0.0064% $460.5k

2.4yrs

Average Tenure

59yo

Average Age

Experienced Board: COLD's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.6%.


Top Shareholders

Company Information

Americold Realty Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Americold Realty Trust
  • Ticker: COLD
  • Exchange: NYSE
  • Founded: 2002
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Market Cap: US$7.162b
  • Shares outstanding: 200.28m
  • Website: https://www.americold.com

Number of Employees


Location

  • Americold Realty Trust
  • South Tower
  • Suite 600
  • Atlanta
  • Georgia
  • 30328
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
COLDNYSE (New York Stock Exchange)YesCommon SharesUSUSDJan 2018
0N42LSE (London Stock Exchange)YesCommon SharesGBUSDJan 2018
YARDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 2018

Biography

Americold 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 183 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/02 05:02
End of Day Share Price2020/06/01 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.