Here’s What Makes Americold Realty Trust (COLD) a Great Investment Pick

ClearBridge Investments, an investment management firm, published its “Mid Cap Growth Strategy” second quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Mid Cap Growth Strategy underperformed the Russell Midcap Growth Index during the second quarter. On an absolute basis, the Strategy had losses across all 10 sectors in which it was invested during the quarter (out of 11 sectors total). The leading detractors were the IT and consumer discretionary sectors, while the real estate sector was the smallest detractor. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, ClearBridge Mid Cap Growth Strategy Fund mentioned Americold Realty Trust, Inc. (NYSE:COLD) and explained its insights for the company. Founded in 1997, Americold Realty Trust, Inc. (NYSE:COLD) is an Atlanta, Georgia-based real estate investment trust company with an $8.2 billion market capitalization. Americold Realty Trust, Inc. (NYSE:COLD) delivered a -6.80% return since the beginning of the year, while its 12-month returns are down by -15.35%. The stock closed at $30.56 per share on August 24, 2022.

Here is what ClearBridge Mid Cap Growth Strategy Fund has to say about Americold Realty Trust, Inc. (NYSE:COLD) in its Q2 2022 investor letter:

“With the market’s highest growth sectors subjected to some of the worst multiple compression, the Strategy’s broad mandate across sectors allayed some of the pain. During the second quarter, this was illustrated by positive contributions among our holdings in real estate. Americold Realty Trust (NYSE:COLD), a leader in the temperature-controlled supply chain industry, benefited from strong first quarter revenue and earnings that exceeded market expectations, stabilization in cold storage inventories and easing of labor costs.”

Photo by Karsten Winegeart on Unsplash

Our calculations show that Americold Realty Trust, Inc. (NYSE:COLD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Americold Realty Trust, Inc. (NYSE:COLD) was in 13 hedge fund portfolios at the end of the second quarter of 2022, compared to 14 funds in the previous quarter. Americold Realty Trust, Inc. (NYSE:COLD) delivered a 15.54% return in the past 3 months.

In July 2022, we also shared another hedge fund’s views on Americold Realty Trust, Inc. (NYSE:COLD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

Disclosure: None. This article is originally published at Insider Monkey.