Ancora Advisors Opens New $148 Million Americold Realty Position Amid the REIT's 42% Pullback
Key Points
Ancora bought 11,528,577 shares; estimated trade size $148.26 million (based on quarterly average pricing).
Quarter-end position value increased by $148.26 million, reflecting the establishment of a new position.
Position change represents a 3.05% increase in 13F reportable AUM.
Post-trade stake: 11,528,577 shares valued at $148.26 million.
This marks a new position, which accounts for 3.05% of fund AUM, making it the funds 4th-largest position.
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What happened
According to a SEC filing dated February 17, 2026, Ancora Advisors LLC disclosed the purchase of 11,528,577 shares of Americold Realty Trust (NYSE:COLD). The estimated transaction value is approximately $148.26 million, calculated using the average share price during the filing quarter. The quarter-end value of the position also stood at $148.26 million, reflecting both the trade and market price developments during the period.
What else to know
This holding is a new position for Ancora, representing 3.05% of its $4.85 billion in reportable U.S. equity assets as of December 31, 2025.
- Top five holdings after the filing:
- LKQ: $241.66 million (5.02% of AUM)
- Broadcom: $151.49 million (3.14% of AUM)
- Apple: $150.32 million (3.12% of AUM)
- Americold Realty: $148.26 million (3.08% of AUM)
- Vanguard S&P 500 ETF: $126.52 million (2.63% of AUM)
As of February 27, 2026, shares of Americold Realty Trust were priced at $13.39, down 41.6% over the prior year, underperforming the S&P 500 by 57 percentage points. The fund reported 2,230 total positions in its latest 13F filing.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.60 billion |
| Net Income (TTM) | $-115.28 million |
| Dividend Yield | 6.87% |
| Price (as of market close 2/27/26) | $13.39 |
Company Snapshot
Americold:
- Operates 185 temperature-controlled warehouses, offering cold storage and logistics solutions for food producers, processors, distributors, and retailers.
- Generates revenue primarily through leasing temperature-controlled storage space and providing value-added logistics services across the global food supply chain.
- Serves a diversified customer base, including food manufacturers, processors, distributors, and retailers in North America, Australia, New Zealand, Canada, and Argentina.
Americold Realty Trust is the world's largest publicly traded REIT specializing in temperature-controlled warehousing and logistics. The company maintains over 1 billion refrigerated cubic feet of storage capacity across five countries, supporting critical links in the global food supply chain. Americold's scale, infrastructure, and focus on food logistics provide a competitive advantage in serving the complex needs of food producers and distributors worldwide.
What this transaction means for investors
Ancora Advisors’ massive opening purchase of Americold Realty is certainly something for REIT investors to take note of. Not only did the firm immediately make Americold its fourth-largest position, buying the stock while it is down 42% from its 52-week high, but it typically likes to hold onto its positions for multiple years. Of its over 2,200 holdings, hundreds of them have been held for five years or more.
As for the stock itself, Americold’s share price roughly doubled in less than two years following its 2018 IPO. Following this rise, Americold traded at an average of 25 times cash from operations (CFO) over the next three to four years, buoyed by tailwinds such as its essential operations during the pandemic, acquisitions-driven growth, low interest rates, and surprisingly strong resilience. Simply put, it traded at a premium. However, its P/CFO has dipped to just 11 today, as its sales growth flat-lined and its debt/EBITDA ratio ballooned to 6.5, making its debt load a bit of an overhang on the business.
That said, Americold remains the No. 2 cold-storage REIT, with an 18% market share in North America and 6% globally. While the company’s debt is something to monitor, its stable operations are pretty attractive at today’s price, especially with COLD’s 6.7% dividend yield. Ultimately, investors interested in this niche may want to compare Americold and Lineage, the No. 1 player, to determine which is a better fit for their portfolio. As the more mature operator -- and trading at a very reasonable valuation -- Ancora’s purchase of COLD makes a lot of sense.
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Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Vanguard S&P 500 ETF. The Motley Fool recommends Broadcom and LKQ. The Motley Fool has a disclosure policy.
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