COLD

Americold Realty Trust

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Real Estate

industry

REIT - Industrial

Exchange

NYSE

County of HQ

United States

Next Earnings Date

05/14/26

Business Summary

Americold Realty Trust operates temperature-controlled warehouses and logistics infrastructure, generating revenue by leasing space and providing cold storage services to food producers, distributors, and retailers. The model relies on long-term customer relationships and high switching costs due to specialized infrastructure requirements. Cash generation depends on occupancy levels, storage rates, and operational efficiency across its warehouse network. Its moat is rooted in scale, geographic density, and the capital intensity required to replicate refrigerated logistics facilities, which creates barriers to entry in a niche segment of industrial real estate.

VALUATION

P/E

-

Market Cap ($M USD)

$3,421

Forward P/E

160.1

PEG

0.8

PRICE TO SALES

1.3

PRICE TO BOOK

1.2

EV / EBITDA

20.5

5-Year Average P/E

DIVIDEND

Yield

7.70%

Annual Payout

$0.92

Payout Ratio

-

Consecutive Years of Dividend Growth

1

5-Year Dividend Growth Rate

0.90%

Financial Health & Profitability

Earnings Per Share

-$0.40

Next Year EPS Growth Estimate

$0.08

Next Year Revenue Growth Estimate

3.20%

Return on Equity (ROE)

-4.00%

Operating Margin

7.80%

Debt-to-Equity

1.6

Piotroski F-Score

5

Altman Z-Score

0.3

Return on Invested Capital (ROIC)

0.10%%

Current Ratio

0.7

Quick Ratio

Gainseekers Quantitative Analysis

Summary

This is not a growth-at-a-reasonable-price story — it’s a balance sheet stress story trading on hope. A Forward P/E of 160.1 combined with a negative operating margin of -4.00% signals investors are paying an extreme premium for earnings that are not materializing, while the Altman Z-Score of 0.3 flashes severe financial distress risk. The company posts just 3.20% ROE and 0.10% ROIC, meaning capital is barely productive, yet leverage sits at 7.80% Debt/Equity with a weak 0.7 current ratio. There is no evidence here of mispricing to the upside; if anything, the market appears dangerously complacent about balance sheet fragility and forward earnings deterioration, especially with EPS expected at -$0.40 next year.

AI Exposure / Tech Reliance

As a REIT in the industrial space, Americold sits in physical infrastructure that benefits from automation, logistics digitization, and supply chain optimization. AI-driven demand forecasting and warehouse automation could improve throughput and margin structure over time. However, with a -4.00% operating margin, technological leverage has not yet translated into financial efficiency.

The Bull Case

A deep value investor could argue that Price/Book at 1.2 and Price/Sales at 1.3 suggest the real estate assets are not excessively inflated relative to revenue and book value. The PEG Forward of 0.8 implies growth expectations may be underappreciated relative to the high Forward P/E, and a Piotroski F-Score of 5 suggests financials are not collapsing outright. Short interest is just 0.90% of float, indicating limited speculative bearish pressure, and institutional ownership at $14.43 shows some degree of professional participation. With a TTM yield of 1.6 and a Dividend 5-Year Avg of 1, income-focused investors may see modest yield support while waiting for operational normalization.

The Bear Case

The bear case is overwhelming. A Debt/Equity ratio of 7.80% paired with a 0.7 current ratio screams constrained liquidity, and the Altman Z-Score of 0.3 signals elevated bankruptcy risk. Operating margin at -4.00%, ROIC at 0.10%, and expected EPS of -$0.40 next year show capital destruction, not value creation. A Forward P/E of 160.1 is indefensible in the face of negative forward earnings, and a payout ratio of $0.92 alongside a Dividend Per Share of 7.70% raises sustainability concerns. This is a leveraged REIT with deteriorating profitability trading at a premium multiple — a structurally dangerous combination.

Market Sentiment & Smart Money

Short Interest %

9.90%

Analyst Consensus

2.56

Average Analyst Price Target

$14.43

Institutional Ownership %

118.10%

1-Year Beta

0.76

Insider Buying % (6 Mo)

0.10%%

Distance to 52-Week High

57.90%%

Distance to 52-Week Low

118.90%%