ProShare Advisors LLC Increases Holdings in Iron Mountain Incorporated (NYSE:IRM)

ProShare Advisors LLC increased its position in Iron Mountain Incorporated (NYSE:IRM) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,429 shares of the financial services provider’s stock after buying an additional 3,630 shares during the quarter. ProShare Advisors LLC’s holdings in Iron Mountain were worth $5,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its stake in shares of Iron Mountain by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 25,159 shares of the financial services provider’s stock valued at $2,644,000 after purchasing an additional 100 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in Iron Mountain by 3.9% during the fourth quarter. Premier Path Wealth Partners LLC now owns 2,844 shares of the financial services provider’s stock valued at $299,000 after buying an additional 106 shares during the period. Belpointe Asset Management LLC grew its stake in shares of Iron Mountain by 1.6% during the fourth quarter. Belpointe Asset Management LLC now owns 7,250 shares of the financial services provider’s stock valued at $821,000 after buying an additional 112 shares during the last quarter. Mather Group LLC. grew its stake in shares of Iron Mountain by 4.6% during the fourth quarter. Mather Group LLC. now owns 2,582 shares of the financial services provider’s stock valued at $271,000 after buying an additional 113 shares during the last quarter. Finally, DoubleLine ETF Adviser LP increased its holdings in shares of Iron Mountain by 0.5% in the fourth quarter. DoubleLine ETF Adviser LP now owns 21,064 shares of the financial services provider’s stock worth $2,214,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a research report on Friday, April 18th. Wells Fargo & Company cut their target price on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Barclays lowered their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Truist Financial initiated coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $121.29.

Insider Buying and Selling

In related news, EVP Mithu Bhargava sold 1,738 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the transaction, the executive vice president now owns 13,054 shares in the company, valued at $1,211,933.36. The trade was a 11.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total transaction of $5,952,353.75. The disclosure for this sale can be found here. Insiders have sold 318,973 shares of company stock worth $29,112,345 in the last 90 days. Insiders own 2.10% of the company’s stock.

Iron Mountain Stock Performance

Shares of NYSE:IRM opened at $100.69 on Monday. Iron Mountain Incorporated has a 52-week low of $72.33 and a 52-week high of $130.24. The firm has a market capitalization of $29.71 billion, a P/E ratio of 165.06, a P/E/G ratio of 5.15 and a beta of 1.08. The stock has a 50 day moving average price of $87.89 and a 200-day moving average price of $99.97.

Iron Mountain (NYSE:IRM) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the business posted $1.10 EPS. The company’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Monday, June 16th will be given a $0.785 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.12%. Iron Mountain’s dividend payout ratio is currently 765.85%.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.