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

Baron Funds, an investment management firm, released its “Baron Real Estate Income Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. In the first nine months of 2023, the Fund has increased 1.20%, outperforming the REIT Index, which declined 2.89%. As of September 30, 2023, the Fund has maintained its top 3% ranking among all real estate funds for its 5-year performance period. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.

In its Q2 2023 investor letter, Baron Real Estate Income Fund mentioned Americold Realty Trust, Inc. (NYSE:COLD) and explained its insights for the company. Founded in 1903, Americold Realty Trust, Inc. (NYSE:COLD) is an Atlanta, Georgia-based temperature-controlled warehousing and transportation company with a $7.3 billion market capitalization. Americold Realty Trust, Inc. (NYSE:COLD) delivered a -4.34% return since the beginning of the year, while its 12-month returns are up by 22.26%. The stock closed at $27.08 per share on October 19, 2023.

Here is what Baron Real Estate Income Fund has to say about Americold Realty Trust, Inc. (NYSE:COLD) in its Q2 2023 investor letter:

“We are optimistic about our REIT investment in Americold Realty Trust, Inc. (NYSE:COLD). Americold is the second largest owner-operator of cold storage facilities in the U.S. and globally. We believe the shares of Americold should benefit from steady growth in food consumption, limited new supply, and improvements in its operations, which should support solid growth.”

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Our calculations show that Americold Realty Trust, Inc. (NYSE:COLD) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Americold Realty Trust, Inc. (NYSE:COLD) was in 23 hedge fund portfolios at the end of the second quarter of 2023, compared to 24 funds in the previous quarter. Americold Realty Trust, Inc. (NYSE:COLD) delivered a -18.06% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.

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