Iron Mountain Incorporated (Delaware) REIT (IRM) Receives $40.50 Average Price Target from Analysts

Shares of Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) have been assigned a consensus rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $40.50.

A number of equities analysts recently issued reports on IRM shares. ValuEngine raised Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Stifel Nicolaus restated a “buy” rating and issued a $43.00 target price (up from $40.00) on shares of Iron Mountain Incorporated (Delaware) REIT in a research report on Friday, October 20th. Robert W. Baird upped their target price on Iron Mountain Incorporated (Delaware) REIT from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Monday, October 9th. Finally, BidaskClub upgraded Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th.

In other news, EVP Theodore Maclean sold 1,500 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $38.13, for a total value of $57,195.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward Bicks sold 1,880 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $41.50, for a total value of $78,020.00. The disclosure for this sale can be found here. Insiders sold 51,758 shares of company stock valued at $2,050,846 in the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Iron Mountain Incorporated (Delaware) REIT by 0.3% during the second quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock worth $1,491,180,000 after buying an additional 151,039 shares during the last quarter. BlackRock Inc. increased its position in Iron Mountain Incorporated (Delaware) REIT by 5.0% during the second quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after buying an additional 896,751 shares during the last quarter. Capital International Investors increased its position in Iron Mountain Incorporated (Delaware) REIT by 2.6% during the third quarter. Capital International Investors now owns 12,811,172 shares of the financial services provider’s stock worth $498,355,000 after buying an additional 324,000 shares during the last quarter. Parnassus Investments CA boosted its holdings in Iron Mountain Incorporated (Delaware) REIT by 1.0% during the third quarter. Parnassus Investments CA now owns 12,497,627 shares of the financial services provider’s stock valued at $486,158,000 after acquiring an additional 122,980 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Iron Mountain Incorporated (Delaware) REIT by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,610,830 shares of the financial services provider’s stock valued at $140,460,000 after acquiring an additional 80,395 shares during the period. 88.84% of the stock is currently owned by institutional investors and hedge funds.

Iron Mountain Incorporated (NYSE IRM) traded down $0.08 during trading hours on Monday, hitting $39.99. The stock had a trading volume of 725,000 shares, compared to its average volume of 1,227,496. The company has a market capitalization of $10,770.91, a price-to-earnings ratio of 19.40, a PEG ratio of 6.30 and a beta of 1.00. Iron Mountain Incorporated has a 52 week low of $31.39 and a 52 week high of $41.53. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.08 and a quick ratio of 1.08.

Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $966.00 million during the quarter, compared to analyst estimates of $960.99 million. Iron Mountain Incorporated (Delaware) REIT had a return on equity of 15.49% and a net margin of 5.54%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. sell-side analysts forecast that Iron Mountain Incorporated will post 2.14 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.5875 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 5.88%. This is a positive change from Iron Mountain Incorporated (Delaware) REIT’s previous quarterly dividend of $0.55. Iron Mountain Incorporated (Delaware) REIT’s dividend payout ratio is presently 275.00%.

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About Iron Mountain Incorporated (Delaware) REIT

Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.

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