Iron Mountain Incorporated (NYSE:IRM – Get Free Report) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $115.31 and traded as low as $104.19. Iron Mountain shares last traded at $105.2280, with a volume of 4,353,102 shares.
Key Stories Impacting Iron Mountain
Here are the key news stories impacting Iron Mountain this week:
- Positive Sentiment: Adjusted Q3 earnings were $1.53 per share versus the $1.47 consensus estimate. AFFO and revenue also topped estimates, with growth supported by data-center leasing, asset lifecycle management and resilient storage operations. Iron Mountain raised its 2026 outlook. Article: IRM Q3 AFFO Beats Estimates on Data Center and ALM Growth
- Positive Sentiment: The quarterly dividend increased nearly 15% to $0.993 per share, or about $3.97 annualized, offering a higher income return for shareholders. Article: Iron Mountain Increases Quarterly Dividend per Share by 15%
- Negative Sentiment: Fourth-quarter revenue guidance fell short of forecasts, creating a near-term concern despite the Q3 beat and higher full-year outlook. This softer outlook may limit the market’s reaction to the otherwise favorable results. Article: Iron Mountain shares decline as revenue guidance falls below forecasts despite Q3 earnings beat
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Rothschild & Co Redburn began coverage on shares of Iron Mountain in a report on Monday, September 21st. They issued a “buy” rating and a $132.00 target price on the stock. Weiss Ratings downgraded Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. The Goldman Sachs Group increased their price target on Iron Mountain from $153.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. lifted their price objective on Iron Mountain from $138.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.89.
Get Our Latest Report on Iron Mountain
Iron Mountain Stock Up 1.1%
The firm has a market capitalization of $31.74 billion, a P/E ratio of 69.68 and a beta of 1.18. The company’s 50 day moving average is $113.75 and its 200-day moving average is $115.38.
Iron Mountain (NYSE:IRM – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.03. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The business’s revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.
Iron Mountain Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.9930 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.8640. This represents a $3.97 dividend on an annualized basis and a dividend yield of 3.7%. Iron Mountain’s payout ratio is currently 247.14%.
Insider Transactions at Iron Mountain
In related news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total value of $693,600.00. Following the transaction, the executive vice president directly owned 95,507 shares in the company, valued at $11,040,609.20. This trade represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of Iron Mountain stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $114.08, for a total transaction of $4,389,113.92. Following the completion of the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $4,389,113.92. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 97,948 shares of company stock valued at $11,048,567 over the last ninety days. 1.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Iron Mountain in the 2nd quarter valued at about $4,240,342,000. Principal Financial Group Inc. increased its holdings in Iron Mountain by 8.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock worth $466,382,000 after purchasing an additional 358,497 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Iron Mountain by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock worth $464,931,000 after purchasing an additional 122,927 shares in the last quarter. Legal & General Group Plc bought a new stake in Iron Mountain during the 2nd quarter worth approximately $409,843,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Iron Mountain by 29,674.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,193,560 shares of the financial services provider’s stock worth $403,379,000 after purchasing an additional 3,182,834 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.
About Iron Mountain
Iron Mountain Incorporated is an information management and storage company that helps organizations protect, manage and access physical and digital assets. Its services include records storage and management, secure document shredding, digitization and other information-management solutions.
The company also operates data centers and provides services for businesses moving, storing and managing data. Its offerings extend to specialized storage and care for items such as artwork and other valuable collections.
Founded in 1951, Iron Mountain began as a records-storage business in a former iron ore mine in New York.
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