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Americold Realty Trust Inc. (NYSE:COLD) is one of the 10 Stocks Outperforming Wall Street With Monster Returns.

Americold Realty Trust extended its winning streak to a third straight session on Thursday, soaring 17.87 percent to finish at $14.97 apiece, after clinching a $1.3 billion joint venture with global investment firm EQT Group for the development of new cold storage facilities in the US.

Under the agreement, Americold Realty Trust Inc. (NYSE:COLD) will build 12 new storage facilities, comprising of approximately 124 million cubic feet of temperature-controlled area, with more than 400,000 combined pallet positions.

Photo from Americold Realty website

EQT will own a 70 percent stake in the joint venture, while Americold Realty Trust Inc. (NYSE:COLD) will take the remaining 30 percent and manage the platform to ensure continuity of service. It will also receive $1.1 billion in payments for the development, proceeds of which will be used to repay outstanding debt.

The transaction is expected to close in the third quarter of the year, subject to customary closing conditions and regulatory approvals.

In other news, Americold Realty Trust Inc. (NYSE:COLD) narrowed its attributable net loss in the first quarter of the year by 17.6 percent to $13.5 million from $16.38 million in the same period last year. Total revenues finished flat at $629 million versus the same comparable quarter.

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