Key Points – Americold beat Q1 expectations, reporting adjusted FFO of $0.29 per share, with management saying occupancy trends have stabilized and the business is running “in line or slightly better” than guidance.
Physical occupancy was flat year over year, and the company kept its full-year AFFO guidance at $1.20 to $1.30 per share. – The company announced a major EQT joint venture involving 12 U.S. properties valued at more than $1.3 billion, expected to close in the third quarter and generate about $1.1 billion in proceeds
Americold plans to use the cash to pay down debt maturities and improve leverage, though the deal could create a modest AFFO headwind in 2026. – Americold is pushing cost cuts and portfolio optimization while also pursuing growth opportunities in e-commerce, international contracts, and customer-dedicated development projects. Management said it completed $30 million in savings initiatives and highlighted new leasing activity, renewals, and projects like the McCain Foods development as signs of strategic progress. – REITs Set for a 2026 Rebound? 7 Top Picks as Rate Cuts Approach Americold Realty Trust (NYSE:COLD) reported first-quarter 2026 adjusted funds from operations of $0.29 per share, exceeding analyst consensus, as management said occupancy trends showed signs of stabilization despite continued pressure in the cold storage market. Chief Executive Officer Rob Chambers said the company’s key metrics came in “in line or slightly better” than its original guidance.
Physical occupancy was flat year over year in the quarter, a trend Chambers said continued into April and supported management’s view that inventory levels have “largely stabilized.” – 3 Stocks to Hedge Against Inflation’s Persistence Chief Financial Officer Chris Papa, who joined Americold in February, said same-store physical occupancy stabilized while economic occupancy contracted slightly less than anticipated. Warehouse net operating income declined 4.5% in the quarter,…