Bank of America Corp DE Cuts Stake in Iron Mountain Incorporated $IRM

Key Points

• Bank of America reduced its Iron Mountain stake by 7.3% in the first quarter, selling 110,970 shares and retaining 1.4 million shares valued at approximately $142.9 million. Institutional investors own 80.13% of the company.
• Analysts remain broadly positive, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $134.33. JPMorgan, Wells Fargo, and Barclays recently raised their price targets.
• Iron Mountain insiders sold shares through pre-arranged trading plans, including CEO William Meaney’s $4.7 million sale. The company maintains a quarterly dividend of $0.864 per share, representing an annualized yield of about 2.7%.

Bank of America Corp DE reduced its stake in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,399,375 shares of the financial services provider's stock after selling 110,970 shares during the quarter. Bank of America Corp DE owned about 0.47% of Iron Mountain worth $142,932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in IRM. Garton & Associates Financial Advisors LLC bought a new stake in Iron Mountain in the fourth quarter worth $25,000. Beaird Harris Wealth Management LLC lifted its stake in Iron Mountain by 17,500.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider's stock worth $29,000 after purchasing an additional 350 shares during the last quarter. Dynamic Wealth Strategies LLC purchased a new position in Iron Mountain during the 1st quarter valued at $31,000. Johnson Financial Group Inc. purchased a new stake in shares of Iron Mountain during the third quarter valued at $32,000. Finally, Bayban purchased a new stake in Iron Mountain in the 4th quarter valued at about $33,000. 80.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IRM shares. Weiss Ratings upgraded shares of Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a report on Friday, May 1st. Wells Fargo & Company raised their price target on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Finally, Barclays lifted their price objective on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $134.33.

Insider Activity at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total transaction of $4,725,761.42. Following the sale, the chief executive officer owned 38,474 shares of the company's stock, valued at $4,725,761.42. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $126.70, for a total value of $760,200.00. Following the transaction, the executive vice president owned 113,507 shares in the company, valued at approximately $14,381,336.90. The trade was a 5.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 137,260 shares of company stock worth $17,361,672 over the last 90 days. Corporate insiders own 1.70% of the company's stock.

Trending Headlines about Iron Mountain

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

• Positive Sentiment: Q2 results exceeded expectations. Iron Mountain reported revenue of $2.03 billion, up 18.5% year over year and ahead of the $1.97 billion consensus estimate. Adjusted EPS was $1.44, substantially above the $0.54 consensus cited in company coverage and also ahead of the $1.40 Zacks estimate. Iron Mountain Reports Second Quarter 2026 Results
• Positive Sentiment: Growth businesses remained key drivers. Data center, digital, and ALM revenue collectively grew more than 50% year over year. Data center leasing reached 110 megawatts year to date, including 75 megawatts contracted in July, supporting expectations for continued expansion. IRM Q2 AFFO Beats Estimates on Data Center and ALM Growth
• Positive Sentiment: Full-year guidance was raised. Iron Mountain now expects 2026 revenue of approximately $7.94 billion to $8.01 billion and EPS of $5.87 to $5.93, above the $5.40 analyst consensus. Third-quarter EPS guidance of $1.47 also exceeded the $1.35 consensus, signaling management’s confidence in near-term performance.
• Positive Sentiment: Dividend maintained. The company declared a quarterly dividend of $0.864 per share, payable October 2 to shareholders of record September 15. The indicated yield is approximately 2.7%. Iron Mountain Earnings Report

Iron Mountain Stock Performance

NYSE:IRM opened at $127.26 on Thursday. The stock has a market capitalization of $37.86 billion, a PE ratio of 139.85 and a beta of 1.20. Iron Mountain Incorporated has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The company has a fifty day moving average of $125.06 and a two-hundred day moving average of $114.64.

Iron Mountain Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Iron Mountain's dividend payout ratio (DPR) is 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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