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Opinions Jeffrey F. Olin
Americold RealtyCOLDTOP PICKJan 15, 2020
Jeffrey F. OlinOwned
$35.37
Stock price when the opinion was issued
$14.46
As of Jun 12, 2026. Market Open.
REAL ESTATE
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They're in the refrigerator warehouse business, which offers a moat. The stock has sunk the past year, once a pandemic darling. People are buying less in the grocery stores due to inflation, maybe shifting from fresh food to pantry food. Also, there's the effect of weight-loss drugs. COLD's occupancy levels are down. COLD is near a bottom and NAV. Lots of upside here.
REAL ESTATE
WEAK BUY
It's actually a REIT. The chart isn't one you want to see, and has caught a lot of investors off guard. Demand and pricing growth were there through the pandemic. Not a lot of these facilities, hard assets to replicate. Overcorrected, so probably some upside for a contrarian play. He wouldn't worry about the long-term fundamentals of the business.
Instead, he's been adding to MI.UN.
REAL ESTATE
COMMENT
DIR.UN-T vs. COLD-N. He turned on COLD-N and reduced his holdings. It is now a show-me story. He would go with DIR.UN-T.
Robert LauzonOwned
REAL ESTATE
BUY ON WEAKNESS
Cold Storage in the US. A leader. An integral part of the food chain. He thinks this is a great business. They have had a lot of difficulty recently on the expense side. Many of the suppliers are running through the safety stock and not replenishing supplies. This is a very labour-intestive business. We are getting very close to the bottom and he thinks it is probably a good buying opportunity.
REAL ESTATE
TOP PICK
Temperature-controlled warehouses are an integral part of the food chain connecting producers and retailers to the consumer. Defensive cashflows, structural tailwinds. High demand sector. E-commerce potential. Seasoned management. Share price attractive, significant discount to peers but with secure growth. Yield is 2.49%. (Analysts’ price target is $41.67)
Michelle WearingOwned
REAL ESTATE
PAST TOP PICK
(A Top Pick Nov 04/19, Down 7%) COLD specializes in frozen warehouse storage, a very defensive asset class with growth. They have a good moat. COLD is the largest player in this space. There's a mismatch in valuation in the private market; these buildings trade at a discount to industrial assets. The spread is too wide. During the pandemic, it was defensive. He still likes it. There is an opportunity for them to store vaccines. Still likes it.
Andrew MoffsOwned
REAL ESTATE
PAST TOP PICK
(A Top Pick Nov 04/19, Down 16%) He continues to own it. He believed there would be quarterly volatility. There are peaks a valleys throughout the year. He has been aggressive buyers recently.
Andrew MoffsOwned
REAL ESTATE
PAST TOP PICK
(A Top Pick Jul 31/19, Up 7%) Few real estate stocks have a moat, and this does. They are the biggest player in temperature-controlled warehouses worldwide. Great managers. It's still early, so there's room to run. Still likes it. Also a top pick.
Jeffrey F. OlinOwned
REAL ESTATE
TOP PICK
They own chilled warehouses, the biggest player in this space. Given consumers' food tastes (fresh foods), this will attract market demand. There's been a recent pullback in COLD, so now is a good entry point. (Analysts’ price target is $40.58)
Joshua VargheseOwned
REAL ESTATE
PAST TOP PICK
(A Top Pick Jul 31/19, Up 13%) ONe of the few real estate entities that has a moat -- a very defensive position. They have air controlled assets and is one of the largest in the world. It is also listed on the NYSE. A core holding for them for a long time to come.
Jeffrey F. OlinOwned
REAL ESTATE
TOP PICK
Industrial warehouse assets that will benefit to the shift to fast delivery on fresh foods. It has twice the growth potential of the warehouse players in the space and trades at the same multiples. Yield 2.12% (Analysts’ price target is $40.58)
Jeffrey F. OlinOwned
REAL ESTATE
TOP PICK
Temperature controlled warehouses. They are an integral part of the food chain. There is high demand for their space. There is no new supply in this space. It trades at the same multiple as an industrial warehouse but has double the growth. (Analysts’ price target is $39.79)
Andrew MoffsOwned
REAL ESTATE
In industrial real estate, a great space, but also in a protected niche--refrigerated warehouses. Difficult to build these, so this limits competition. They benefit from growing demand for fresh food and ready to eat food. Fine managers. Valus will rise in this space, and there'll be a secular re-rating as investors recognize COLD's niche. High growth ahead. (Analysts’ price target is $40.06)