Iron Mountain Incorporated $IRM Stake Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 9.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,423 shares of the financial services provider’s stock after acquiring an additional 4,762 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Iron Mountain were worth $5,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IRM. Bell Investment Advisors Inc purchased a new stake in shares of Iron Mountain in the second quarter valued at about $26,000. Meeder Asset Management Inc. purchased a new position in Iron Mountain during the second quarter worth about $27,000. Wellington Altus USA Inc. purchased a new position in Iron Mountain during the second quarter worth about $27,000. Sawyer & Company Inc purchased a new position in Iron Mountain during the third quarter worth about $27,000. Finally, Dynamic Wealth Strategies LLC bought a new stake in Iron Mountain in the 1st quarter worth about $31,000. Institutional investors own 80.13% of the company’s stock.

Trending Headlines about Iron Mountain

Here are the key news stories impacting Iron Mountain this week:

• Positive Sentiment: Third-quarter adjusted funds from operations (AFFO) beat estimates, supported by data-center leasing growth, asset lifecycle management and resilient storage operations. Revenue was about $1.99 billion, up 13.5% year over year, and the company raised its 2026 outlook. Article: IRM Q3 AFFO Beats Estimates on Data Center and ALM Growth
• Positive Sentiment: IRM increased its quarterly dividend 14.9% to $0.993 per share, equivalent to about $3.97 annually and a 3.8% yield. The higher payout may support investor appeal. Article: Iron Mountain Increases Quarterly Dividend per Share by 15%
• Negative Sentiment: The main pressure was softer-than-expected revenue guidance for the fourth quarter. Investors appeared to weigh that near-term outlook more heavily than the quarterly beat and raised full-year forecast. Article: Iron Mountain shares decline as revenue guidance falls below forecasts despite Q3 earnings beat

Iron Mountain Price Performance

Iron Mountain stock opened at $105.23 on Friday. Iron Mountain Incorporated has a one year low of $77.77 and a one year high of $134.68. The business has a fifty day moving average price of $114.08 and a 200-day moving average price of $115.31. The firm has a market capitalization of $31.33 billion, a P/E ratio of 75.16 and a beta of 1.18.

Iron Mountain (NYSE:IRM) last announced 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 negative return on equity of 85.44% and a net margin of 5.54%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the business earned $1.32 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. Sell-side analysts expect that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Tuesday, December 15th will be paid a $0.9930 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $3.97 annualized dividend and a yield of 3.8%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.8640. Iron Mountain’s dividend payout ratio is 246.43%.

Analysts Set New Price Targets

Several equities research analysts have commented on IRM shares. JPMorgan Chase & Co. upped their price objective on shares of Iron Mountain from $138.00 to $147.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Rothschild & Co Redburn initiated coverage on shares of Iron Mountain in a research note on Monday, September 21st. They issued a “buy” rating and a $132.00 target price for the company. Truist Financial boosted their price target on shares of Iron Mountain from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. BNP Paribas Exane boosted their price target on shares of Iron Mountain from $138.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Barclays upped their price target on shares of Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday, September 8th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $143.89.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 38,474 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $114.08, for a total value of $4,389,113.92. Following the sale, the chief executive officer directly owned 38,474 shares of the company’s stock, valued at approximately $4,389,113.92. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total transaction of $693,600.00. Following the completion of the sale, the executive vice president directly owned 95,507 shares in the company, valued at approximately $11,040,609.20. The trade was a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 97,948 shares of company stock valued at $11,048,567 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.