Cbre Investment Management Listed Real Assets LLC Purchases 196,369 Shares of Iron Mountain Incorporated $IRM

Key Points

• CBRE Investment Management Listed Real Assets LLC boosted its Iron Mountain stake by 18.3% in Q3, buying 196,369 shares to hold 1,269,467 shares (~$129.41M), making IRM about 1.8% of the firm's portfolio and its 17th-largest position.
• Insider selling was significant: CEO William L. Meaney sold 137,133 shares (≈$15.0M) and EVP Mark Kidd sold 6,000 shares, with insiders offloading 391,931 shares (~$41.18M) in the last quarter and now owning 1.9% of the stock.
• Dividend and valuation: Iron Mountain declared a quarterly dividend of $0.864 (annualized $3.46, yield 3.2%) despite a 718.75% payout ratio; the company has a market cap of ~$31.8B, a P/E of 224, and a consensus analyst target of $116.60 ("Moderate Buy").

Cbre Investment Management Listed Real Assets LLC grew its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,269,467 shares of the financial services provider's stock after acquiring an additional 196,369 shares during the quarter. Iron Mountain comprises about 1.8% of Cbre Investment Management Listed Real Assets LLC's portfolio, making the stock its 17th largest position. Cbre Investment Management Listed Real Assets LLC owned 0.43% of Iron Mountain worth $129,409,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IRM. Quent Capital LLC bought a new position in Iron Mountain during the 3rd quarter valued at about $27,000. Washington Trust Advisors Inc. bought a new stake in Iron Mountain in the third quarter worth about $54,000. Caitlin John LLC purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $61,000. City Holding Co. purchased a new position in shares of Iron Mountain during the third quarter valued at approximately $68,000. Finally, First Horizon Corp bought a new position in shares of Iron Mountain during the third quarter valued at approximately $68,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Shares of IRM stock opened at $107.55 on Thursday. The company has a market capitalization of $31.82 billion, a P/E ratio of 224.06 and a beta of 1.13. The company's 50-day simple moving average is $98.29 and its two-hundred day simple moving average is $95.67. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $115.24.

Iron Mountain Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be paid a $0.864 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.46 annualized dividend and a yield of 3.2%. Iron Mountain's dividend payout ratio is 718.75%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 137,133 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $109.39, for a total transaction of $15,000,978.87. Following the transaction, the chief executive officer directly owned 295,975 shares in the company, valued at $32,376,705.25. This trade represents a 31.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $107.27, for a total value of $643,620.00. Following the sale, the executive vice president directly owned 131,507 shares of the company's stock, valued at approximately $14,106,755.89. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 391,931 shares of company stock valued at $41,180,243 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

IRM has been the subject of a number of research analyst reports. Barclays raised their price target on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Finally, Loop Capital set a $130.00 target price on Iron Mountain in a research report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $116.60.

Iron Mountain Profile

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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