57,193 Shares in Iron Mountain Incorporated (NYSE:IRM) Acquired by American Assets Investment Management LLC

Key Points

• American Assets Investment Management LLC has invested approximately $4.92 million in Iron Mountain, acquiring 57,193 shares, which represents about 2.1% of their total holdings.
• Iron Mountain's stock recently opened at $97.99 and has a market cap of $28.91 billion, with shares down 1.4% as of Thursday.
• Iron Mountain announced a quarterly dividend of $0.785 per share, leading to an annual yield of 3.20%.

American Assets Investment Management LLC purchased a new position in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 57,193 shares of the financial services provider's stock, valued at approximately $4,921,000. Iron Mountain accounts for approximately 2.1% of American Assets Investment Management LLC's investment portfolio, making the stock its 16th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its position in Iron Mountain by 14.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 14,537 shares of the financial services provider's stock valued at $1,251,000 after buying an additional 1,860 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Iron Mountain in the 1st quarter valued at about $30,000. Assenagon Asset Management S.A. boosted its position in Iron Mountain by 3.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 11,538 shares of the financial services provider's stock valued at $993,000 after buying an additional 388 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Iron Mountain by 134.7% in the 1st quarter. Miracle Mile Advisors LLC now owns 7,545 shares of the financial services provider's stock valued at $649,000 after buying an additional 4,330 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in Iron Mountain in the 1st quarter valued at about $285,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Trading Down 3.4%

IRM traded down $3.28 on Friday, hitting $94.08. 1,500,940 shares of the company's stock were exchanged, compared to its average volume of 968,117. The firm has a market cap of $27.76 billion, a PE ratio of 229.46 and a beta of 1.07. Iron Mountain Incorporated has a twelve month low of $72.33 and a twelve month high of $130.24. The stock has a fifty day moving average of $99.98 and a two-hundred day moving average of $95.32.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.01. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Iron Mountain had a net margin of 1.97% and a negative return on equity of 201.62%. Iron Mountain's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IRM. Truist Financial began coverage on shares of Iron Mountain in a research note on Tuesday, April 8th. They issued a "buy" rating and a $95.00 target price on the stock. Wall Street Zen upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Barclays upped their target price on shares of Iron Mountain from $118.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $121.71.

Insider Buying and Selling at Iron Mountain

In related news, EVP Greg W. Mcintosh sold 17,334 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $100.00, for a total transaction of $1,733,400.00. Following the sale, the executive vice president owned 35,446 shares in the company, valued at $3,544,600. This represents a 32.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $100.36, for a total transaction of $6,937,385.00. The disclosure for this sale can be found here. Insiders have sold 170,882 shares of company stock worth $17,007,738 in the last ninety days. Insiders own 1.90% of the company's stock.

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.