Cbre Investment Management Listed Real Assets LLC Grows Position in Iron Mountain Incorporated $IRM

Cbre Investment Management Listed Real Assets LLC grew its stake in Iron Mountain Incorporated (NYSE:IRM) by 39.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,073,098 shares of the financial services provider’s stock after buying an additional 300,908 shares during the quarter. Iron Mountain makes up 1.7% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 21st biggest holding. Cbre Investment Management Listed Real Assets LLC owned 0.36% of Iron Mountain worth $110,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IRM. Whittier Trust Co. raised its holdings in Iron Mountain by 3.4% during the first quarter. Whittier Trust Co. now owns 3,265 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 108 shares during the period. Cooper Financial Group raised its stake in Iron Mountain by 3.7% during the 2nd quarter. Cooper Financial Group now owns 3,155 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 113 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Iron Mountain by 3.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,312 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 118 shares in the last quarter. Diversify Advisory Services LLC grew its holdings in Iron Mountain by 1.9% during the 1st quarter. Diversify Advisory Services LLC now owns 6,480 shares of the financial services provider’s stock valued at $572,000 after buying an additional 123 shares in the last quarter. Finally, NorthRock Partners LLC grew its holdings in Iron Mountain by 2.6% during the 1st quarter. NorthRock Partners LLC now owns 5,075 shares of the financial services provider’s stock valued at $440,000 after buying an additional 131 shares in the last quarter. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $102.75, for a total value of $7,102,593.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $102.51, for a total value of $615,060.00. Following the transaction, the executive vice president owned 67,081 shares of the company’s stock, valued at $6,876,473.31. This trade represents a 8.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 226,681 shares of company stock worth $22,265,632. Insiders own 1.90% of the company’s stock.

Iron Mountain Trading Up 0.3%

IRM opened at $100.79 on Friday. The stock has a 50-day moving average of $100.94 and a 200 day moving average of $98.17. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $125.38. The firm has a market cap of $29.77 billion, a P/E ratio of 719.99 and a beta of 1.06.

Iron Mountain (NYSE:IRM) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.03. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.75 billion. Iron Mountain had a negative return on equity of 146.80% and a net margin of 0.66%.The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $1.13 EPS. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, research analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current fiscal year.

Iron Mountain Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Monday, December 15th will be given a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. The ex-dividend date is Monday, December 15th. Iron Mountain’s dividend payout ratio (DPR) is presently 592.45%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. Jefferies Financial Group started coverage on Iron Mountain in a report on Monday, September 22nd. They issued a “buy” rating and a $120.00 target price on the stock. Barclays boosted their target price on Iron Mountain from $121.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 20th. Finally, JPMorgan Chase & Co. raised their price target on Iron Mountain from $100.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Iron Mountain currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.67.

Iron Mountain Profile

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.