Americold Realty Stock Price, News & Analysis

Americold Realty Trust (NYSE:COLD) has successfully completed its acquisition of Agro Merchants Group, adding 46 facilities across 10 countries, totaling 236 million refrigerated cubic feet. This move expands Americold’s portfolio to 239 facilities with 1.41 billion cubic feet, enhancing its global reach. Concurrently, the company issued 14.2 million common shares to Oaktree Capital and Agro management, with a lockup until May 17, 2021. Additionally, Americold secured €750 million in senior unsecured notes to fund future growth initiatives. The acquisition bolsters its position in the temperature-controlled warehouse market.

Americold Realty Trust (NYSE: COLD) has declared a $0.21 per share dividend for Q4 2020, payable on January 15, 2020, to shareholders of record as of December 31, 2020. As the largest publicly traded REIT specializing in temperature-controlled warehouses, Americold owns and operates 185 facilities across several countries, including the U.S. and Australia, with over 1 billion cubic feet of refrigerated storage. This dividend announcement reflects the company's commitment to returning value to its shareholders.

Americold Realty Trust (NYSE: COLD) announced the full exercise of the underwriters' option to purchase an additional 4,785,000 common shares from its recent public offering, totaling 36,685,000 shares. The offering price was set at $38.00 per share, before underwriting discount. Proceeds will primarily fund the acquisition of Agro Merchants Group subsidiaries, with any remaining for business expansion and debt repayment. The transaction is set to close on November 12, 2020.

Americold Realty Trust (NYSE: COLD) has acquired Hall's Warehouse Corporation for $480 million to expand its presence in the Northeastern US. This acquisition adds eight facilities totaling 58 million cubic feet and 200,000 pallet positions, serving 220 customers with a 95% occupancy rate. Americold also announced two expansion projects in Arkansas and Calgary, costing $84 million and $11 million, respectively. Funding will come from equity offerings and debt placements, including €750 million in senior unsecured notes.

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.