Welcome to our dedicated page for Americold Realty news (Ticker: COLD), a resource for investors and traders seeking the latest updates and insights on Americold Realty stock.
Americold Realty Trust, Inc. reports developments tied to its temperature-controlled logistics real estate business, including the ownership, operation, acquisition and development of refrigerated warehouses. The REIT’s updates commonly cover AFFO and operating results, physical occupancy, services margin, fixed-commitment customer contracts, dividends and capital allocation across a global cold storage network serving food producers, processors, distributors and retailers.
Company news also includes sustainability reporting for energy efficiency, emissions reduction, safety and facility resilience, along with governance matters, shareholder engagement, finance leadership changes and material agreements that affect the balance sheet or portfolio strategy.
Americold Realty Trust (NYSE: COLD) reported a 6.7% increase in total revenue for Q3 2020, totaling $497.5 million, driven by acquisitions and organic growth. Net income was $12.4 million, or $0.06 per share, down from $27.1 million a year prior. The Company also announced the strategic acquisition of Agro Merchants Group for $1.74 billion, enhancing its global position. Additionally, it completed the Halls acquisition for $480 million and plans further expansions. AFFO guidance was tightened to $1.26-$1.29 per share for 2020.
Americold Realty Trust (NYSE: COLD) has announced the upsize and pricing of its public offering of 31,900,000 common shares at $38.00 per share, increased from an initial 29,000,000 shares. The offering is expected to close on October 16, 2020. The company will not initially receive proceeds from the forward purchasers; however, it plans to use net proceeds for the acquisition of Agro Merchants Group's subsidiaries and other growth opportunities. The underwriters have a 30-day option to purchase an additional 4,785,000 common shares.
Americold Realty Trust (NYSE: COLD) has initiated an underwritten public offering of 29 million common shares, with underwriters having a 30-day option for an additional 4.35 million shares. The proceeds will primarily fund the acquisition of Agro Merchants Group's subsidiaries, along with other development opportunities. The forward sale agreements aim to manage the logistics of share delivery and proceeds. No immediate proceeds will be received from the offering, with the final settlement expected within 12 months, contingent upon specific market conditions.
Americold Realty Trust (NYSE: COLD) announced a definitive agreement to acquire Agro Merchants Group for $1.740 billion, expanding its reach in the temperature-controlled logistics market. The acquisition, subject to regulatory approval, is expected to close in late Q4 2020 or early Q1 2021. Agro, the fourth largest in the sector, operates 46 facilities across 10 countries. This strategic move enhances Americold's footprint in Europe and strengthens its existing operations in the U.S., Australia, and South America, promising long-term growth and operational synergies.
Americold Realty Trust (NYSE: COLD) will announce its third quarter 2020 financial results after market close on November 5, 2020. A conference call is scheduled for the same day at 5:00 p.m. ET, with a webcast available on the company’s Investor Relations site. Americold operates 183 temperature-controlled warehouses globally, encompassing over 1 billion refrigerated cubic feet of storage as of June 30, 2020, playing a vital role in the supply chain for food distribution.