Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) Issues Earnings Results

Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) announced its earnings results on Friday, February 16th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.04), Bloomberg Earnings reports. Iron Mountain Incorporated (Delaware) REIT had a return on equity of 15.40% and a net margin of 4.78%. The business had revenue of $991.00 million during the quarter, compared to analyst estimates of $964.15 million. During the same period in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year.

Iron Mountain Incorporated (NYSE IRM) opened at $31.96 on Friday. Iron Mountain Incorporated has a one year low of $31.34 and a one year high of $41.53. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.08 and a current ratio of 1.47. The company has a market cap of $9,120.00, a PE ratio of 46.32 and a beta of 0.83.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.5875 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date is Wednesday, March 14th. Iron Mountain Incorporated (Delaware) REIT’s payout ratio is presently 340.58%.

In other Iron Mountain Incorporated (Delaware) REIT news, EVP Theodore Maclean sold 1,076 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $32.30, for a total value of $34,754.80. Following the transaction, the executive vice president now directly owns 6,367 shares of the company’s stock, valued at approximately $205,654.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider William L. Meaney sold 11,014 shares of the stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $37.09, for a total transaction of $408,509.26. Following the completion of the transaction, the insider now directly owns 111,592 shares in the company, valued at $4,138,947.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,801 shares of company stock valued at $1,385,166. Company insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Certified Advisory Corp bought a new position in shares of Iron Mountain Incorporated (Delaware) REIT during the fourth quarter worth approximately $128,000. Global X Management Co. LLC boosted its position in shares of Iron Mountain Incorporated (Delaware) REIT by 196.2% during the 4th quarter. Global X Management Co. LLC now owns 3,540 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,345 shares in the last quarter. Aevitas Wealth Management Inc. acquired a new stake in shares of Iron Mountain Incorporated (Delaware) REIT during the 4th quarter worth approximately $155,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Iron Mountain Incorporated (Delaware) REIT by 11,438.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,846 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 4,804 shares in the last quarter. Finally, Rehmann Capital Advisory Group acquired a new stake in shares of Iron Mountain Incorporated (Delaware) REIT during the 3rd quarter worth approximately $213,000. 87.23% of the stock is currently owned by institutional investors.

IRM has been the subject of several research analyst reports. Stifel Nicolaus dropped their price objective on shares of Iron Mountain Incorporated (Delaware) REIT from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, February 20th. ValuEngine upgraded shares of Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. TheStreet cut shares of Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a research report on Thursday, December 7th. Finally, Zacks Investment Research raised shares of Iron Mountain Incorporated (Delaware) REIT from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.40.

ILLEGAL ACTIVITY WARNING: This article was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this article on another website, it was illegally stolen and reposted in violation of United States and international copyright and trademark law. The correct version of this article can be accessed at https://www.thelincolnianonline.com/2018/02/25/iron-mountain-incorporated-delaware-reit-irm-posts-earnings-results-misses-estimates-by-0-04-eps.html.

Iron Mountain Incorporated (Delaware) REIT Company Profile

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.

Earnings History for Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM)

Receive News & Ratings for Iron Mountain Incorporated (Delaware) REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iron Mountain Incorporated (Delaware) REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply