Americold Realty Trust's stock soared 17.05% during Thursday's intraday trading session, marking a significant surge for the temperature-controlled logistics real estate investment trust.

The sharp increase follows the company's announcement of a $1.3 billion joint venture with Swedish private equity firm EQT's Active Core Infrastructure fund. Under the agreement, Americold will contribute 12 cold storage facilities across the United States to the venture, with EQT acquiring a 70% interest while Americold retains a 30% stake and manages daily operations. Americold expects to receive approximately $1.1 billion in net cash proceeds from the transaction, which it plans to use to repay outstanding debt.

Investors also responded positively to the company's 2026 guidance, which forecasts adjusted funds from operations between $1.20 and $1.30 per share, exceeding some Wall Street estimates. This outlook comes alongside first-quarter results showing revenue of $629.9 million, beating analyst expectations of $613.8 million, though adjusted FFO declined year-over-year to $0.29 per share from $0.34.