Iron Mountain Incorporated (NYSE:IRM) Receives $116.60 Average PT from Analysts

Iron Mountain Incorporated (NYSE:IRM) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $116.60.

Several brokerages have commented on IRM. Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Loop Capital set a $130.00 price objective on Iron Mountain in a report on Wednesday, March 4th. Finally, Barclays raised their target price on shares of Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd.

Iron Mountain Stock Up 0.5%

NYSE:IRM opened at $107.42 on Friday. The company has a market cap of $31.78 billion, a P/E ratio of 223.80 and a beta of 1.13. Iron Mountain has a twelve month low of $72.33 and a twelve month high of $115.24. The business has a 50 day moving average price of $99.72 and a two-hundred day moving average price of $96.02.

Iron Mountain Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be paid a dividend of $0.864 per share. The ex-dividend date is Monday, March 16th. This represents a $3.46 annualized dividend and a dividend yield of 3.2%. Iron Mountain’s payout ratio is currently 720.83%.

Insider Activity

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the transaction, the executive vice president owned 131,507 shares of the company’s stock, valued at $14,106,755.89. The trade was a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jennifer Allerton sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $108.88, for a total value of $762,160.00. Following the completion of the sale, the director owned 11,541 shares in the company, valued at $1,256,584.08. This represents a 37.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 391,931 shares of company stock valued at $41,180,243. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Iron Mountain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IRM. Koshinski Asset Management Inc. raised its position in shares of Iron Mountain by 2.0% in the third quarter. Koshinski Asset Management Inc. now owns 5,108 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 98 shares during the period. NorthCrest Asset Manangement LLC lifted its position in Iron Mountain by 3.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 2,929 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 103 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Iron Mountain by 5.3% during the third quarter. Continuum Advisory LLC now owns 2,077 shares of the financial services provider’s stock worth $212,000 after acquiring an additional 104 shares during the period. Rothschild Investment LLC boosted its holdings in shares of Iron Mountain by 15.4% during the fourth quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 104 shares during the period. Finally, Natural Investments LLC boosted its stake in Iron Mountain by 3.1% in the 3rd quarter. Natural Investments LLC now owns 3,581 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 107 shares during the period. 80.13% of the stock is owned by institutional investors.

About Iron Mountain

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.