Americold

COLD

Market cap $3.08B

Americold offers an 8.6% dividend, supported by durable cash flows and a strong oligopolistic position in the cold storage REIT sector. COLD faces near-term headwinds from oversupply, expiring contracts, and pricing pressure, but its long-term fundamentals and customer relationships remain robust. Despite a challenging 2026 outlook, COLD's development pipeline, focus on build-to-suit projects, and international growth, especially in Asia-Pacific, provide upside potential.

ATLANTA, Nov. 26, 2025 (GLOBE NEWSWIRE) -- Americold, a global leader in temperature-controlled logistics, real estate, and value-added services, today announced it has been named a 2025 GRESB Sector Leader in the Americas, Industrial category through the GRESB Real Estate Assessment Standing Investments Benchmark. This achievement places Americold among the top-performing companies for sustainability performance.

Americold Realty Trust faces severe headwinds from industry overcapacity, stagnant demand, and declining occupancy, leading to a challenging outlook. COLD's financials show falling margins, negative rent spreads, and dangerously high leverage, with $575 million in debt maturing in 2026 and limited pricing power. The current 8.9% dividend yield appears unsustainable as AFFO and FFO coverage thins, raising the risk of a significant dividend cut in the near term.

Over 200 U.S. REITs and homebuilders have reported third-quarter earnings results over the past five weeks, providing critical information on the state of the commercial and residential real estate industry. Overall, REIT earnings results were marginally better than consensus expectations despite a handful of high-profile flops that overshadowed some impressive individual results across a balanced mix of sectors. Two-thirds of the sector (67 REITs) raised their full-year FFO outlook—above the historical average of 65%. Notable winners included Industrial, Senior Housing, Data Center, Retail, and Billboard REITs.

REITs offer compelling value and income, with VNQ yielding 3.8% versus the S&P 500's 1.1%, and trade at historically wide valuation discounts. The current macro environment favors high-quality, undervalued dividend stocks, as falling long-term rates could boost demand for income-generating assets like REITs. REITs demonstrate strong financial health, stable dividends, and sector diversity, making them attractive for both income and potential total return upside.

Indexes tracking real estate investment trust stocks outperformed the broader stock market indexes during the first week of November. The Dow Jones Equity All REIT closed the recent week up 1.40%, while the MSCI US REIT (RMZ) index rose 1.50%. All of the Dow Jones US real estate property sector indexes logged increases this past week.

U.S. equity markets stumbled this week as stretched tech valuations collided with weakening consumer and labor market data, while the economic drag and uncertainty from the ongoing government shutdown build. Now it's real? The shutdown has now halted fiscal flows into several sizable government benefits programs - a sudden onset of fiscal austerity that could have non-trivial disinflationary impacts. Snapping a three-week winning streak, the S&P 500 dipped 1.7%. REITs led as earnings season wrapped up with a handful of surprisingly solid reports from some unlikely leaders.

The headline numbers for Americold Realty Trust (COLD) give insight into how the company performed in the quarter ended September 2025, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Americold Realty Trust, Inc. ( COLD ) Q3 2025 Earnings Call November 6, 2025 8:00 AM EST Company Participants Rich Leland Robert Chambers - President, CEO & Director Jay Wells - Executive VP & CFO Conference Call Participants Samir Khanal - BofA Securities, Research Division Greg McGinniss - Scotiabank Global Banking and Markets, Research Division Michael Carroll - RBC Capital Markets, Research Division Michael Griffin - Evercore ISI Institutional Equities, Research Division Blaine Heck - Wells Fargo Securities, LLC, Research Division Michael Goldsmith - UBS Investment Bank, Research Division Nicholas Thillman - Robert W. Baird & Co. Incorporated, Research Division Michael Mueller - JPMorgan Chase & Co, Research Division Todd Thomas - KeyBanc Capital Markets Inc., Research Division Brendan Lynch - Barclays Bank PLC, Research Division Presentation Operator Greetings, and welcome to the Americold Realty Trust Third Quarter 2025 Earnings Call.

Americold Realty Trust Inc. (COLD) came out with quarterly funds from operations (FFO) of $0.35 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $0.35 per share a year ago.