Easterly Investment Partners LLC Acquires Shares of 73,516 Iron Mountain Incorporated $IRM

Key Points

• Easterly Investment Partners initiated a new position in Iron Mountain, buying 73,516 shares valued at about $6.1 million in the fourth quarter.
• Iron Mountain’s latest earnings beat expectations, with EPS of $0.60 versus $0.50 expected and revenue of $1.94 billion, up 21.5% year over year.
• Analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $131.67; the shares also offer a quarterly dividend of $0.864.

Easterly Investment Partners LLC acquired a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 73,516 shares of the financial services provider's stock, valued at approximately $6,098,000.

Several other large investors also recently added to or reduced their stakes in IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Iron Mountain by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider's stock valued at $2,573,000 after buying an additional 1,286 shares during the period. Empowered Funds LLC boosted its position in Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider's stock valued at $493,000 after buying an additional 537 shares during the period. Woodline Partners LP lifted its position in shares of Iron Mountain by 41.0% in the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider's stock worth $2,129,000 after purchasing an additional 7,193 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Iron Mountain by 29.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the financial services provider's stock worth $136,000 after purchasing an additional 300 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of Iron Mountain by 3.6% in the 2nd quarter. Cerity Partners LLC now owns 35,292 shares of the financial services provider's stock worth $3,620,000 after purchasing an additional 1,222 shares during the period. 80.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO William L. Meaney sold 38,474 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $128.93, for a total transaction of $4,960,452.82. Following the sale, the chief executive officer directly owned 38,474 shares of the company's stock, valued at approximately $4,960,452.82. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Pamela M. Arway sold 1,892 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $128.97, for a total transaction of $244,011.24. Following the sale, the director directly owned 40,196 shares in the company, valued at $5,184,078.12. This trade represents a 4.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 355,827 shares of company stock valued at $38,859,043 in the last three months. Corporate insiders own 1.70% of the company's stock.

Analyst Ratings Changes

IRM has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Loop Capital set a $130.00 price target on shares of Iron Mountain in a research report on Wednesday, March 4th. Truist Financial set a $140.00 price target on shares of Iron Mountain in a research report on Friday, May 1st. Zacks Research raised shares of Iron Mountain from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $131.67.

Iron Mountain Price Performance

NYSE:IRM opened at $128.15 on Monday. The firm has a market capitalization of $38.13 billion, a P/E ratio of 140.83 and a beta of 1.19. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.09. The company's fifty day moving average price is $115.91 and its 200-day moving average price is $101.34.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The business's quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. 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. Equities analysts anticipate that Iron Mountain Incorporated will post 5.4 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Monday, June 15th will be paid a $0.864 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.7%. Iron Mountain's dividend payout ratio is presently 380.22%.

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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