Adelante Capital Management LLC Has $36.46 Million Stake in Iron Mountain Incorporated $IRM

Key Points

• Adelante Capital Management increased its Iron Mountain stake by 5.2% in the first quarter, holding 356,934 shares valued at approximately $36.46 million. Institutional investors collectively own 80.13% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $134.33, although some firms recently downgraded the stock to “Hold.”
• Iron Mountain exceeded quarterly expectations with $1.94 billion in revenue and $0.60 EPS, while shares opened at $125.74. The company also pays a quarterly dividend of $0.864 per share, yielding about 2.7% annually.

Adelante Capital Management LLC grew its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 356,934 shares of the financial services provider's stock after purchasing an additional 17,707 shares during the period. Iron Mountain comprises approximately 2.4% of Adelante Capital Management LLC's portfolio, making the stock its 12th biggest position. Adelante Capital Management LLC owned about 0.12% of Iron Mountain worth $36,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IRM. Dynamic Wealth Strategies LLC bought a new stake in Iron Mountain in the first quarter worth about $31,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Iron Mountain in the fourth quarter worth about $25,000. Johnson Financial Group Inc. bought a new stake in shares of Iron Mountain in the third quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC lifted its stake in shares of Iron Mountain by 17,500.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock valued at $29,000 after buying an additional 350 shares in the last quarter. Finally, Bayban purchased a new stake in shares of Iron Mountain during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 80.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IRM shares. Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Weiss Ratings downgraded Iron Mountain from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 9th. Truist Financial set a $140.00 price target on Iron Mountain in a research note on Friday, May 1st. Wall Street Zen cut Iron Mountain from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.33.

Insider Activity at Iron Mountain

In related news, Director Pamela M. Arway sold 1,892 shares of Iron Mountain stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $128.97, for a total transaction of $244,011.24. Following the transaction, the director directly owned 40,196 shares of the company's stock, valued at $5,184,078.12. This trade represents a 4.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 on Friday, May 8th. The shares were sold at an average price of $127.91, for a total value of $767,460.00. Following the sale, the executive vice president owned 119,507 shares of the company's stock, valued at approximately $15,286,140.37. This represents a 4.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 137,260 shares of company stock worth $17,361,672 over the last three months. Corporate insiders own 1.70% of the company's stock.

Iron Mountain Trading Down 1.0%

Shares of IRM stock opened at $125.74 on Wednesday. The company has a 50 day simple moving average of $125.42 and a two-hundred day simple moving average of $113.22. The stock has a market cap of $37.41 billion, a P/E ratio of 138.18 and a beta of 1.19. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the business earned $1.17 EPS. The firm's revenue was up 21.5% compared to the same quarter last year. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. As a group, equities analysts forecast that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Monday, June 15th were paid a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Monday, June 15th. Iron Mountain's dividend payout ratio (DPR) is currently 380.22%.

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.

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