Iron Mountain Incorporated $IRM Stake Lessened by Adell Harriman & Carpenter Inc.

Key Points

• Adell Harriman & Carpenter trimmed its Iron Mountain stake by 3.6% in Q4, selling 11,698 shares and leaving it with 314,617 shares valued at about $26.1 million.
• Several analysts remain constructive on IRM, with firms like Wells Fargo, JPMorgan, and Barclays raising price targets; the stock currently carries a Moderate Buy consensus and a $131.67 target.
• Iron Mountain reported Q1 earnings of $0.60 per share, topping estimates, and revenue of $1.94 billion, while also announcing a quarterly dividend of $0.864 per share to be paid July 3.

Adell Harriman & Carpenter Inc. decreased its holdings in shares of Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,617 shares of the financial services provider's stock after selling 11,698 shares during the quarter. Iron Mountain accounts for approximately 1.6% of Adell Harriman & Carpenter Inc.'s holdings, making the stock its 18th biggest position. Adell Harriman & Carpenter Inc. owned approximately 0.11% of Iron Mountain worth $26,097,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Iron Mountain by 597.9% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider's stock valued at $322,292,000 after purchasing an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Iron Mountain by 66.5% during the 4th quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider's stock worth $349,021,000 after purchasing an additional 1,680,438 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Iron Mountain by 18.1% during the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider's stock valued at $516,481,000 after buying an additional 776,933 shares during the last quarter. Centersquare Investment Management LLC grew its stake in shares of Iron Mountain by 23.8% in the 3rd quarter. Centersquare Investment Management LLC now owns 2,514,464 shares of the financial services provider's stock valued at $256,324,000 after buying an additional 483,548 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in Iron Mountain by 331.5% in the third quarter. AQR Capital Management LLC now owns 457,472 shares of the financial services provider's stock worth $46,356,000 after buying an additional 351,463 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IRM has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Loop Capital set a $130.00 target price on shares of Iron Mountain in a research report on Wednesday, March 4th. Barclays increased their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research note on Monday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Iron Mountain in a report 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 company. According to MarketBeat.com, Iron Mountain currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.67.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $127.91, for a total transaction of $767,460.00. Following the completion of the transaction, the executive vice president owned 119,507 shares in the company, valued at $15,286,140.37. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $128.93, for a total value of $4,960,452.82. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,960,452.82. This represents a 50.00% decrease in their ownership of the stock. 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 sold 498,014 shares of company stock worth $54,269,373 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Iron Mountain Price Performance

IRM stock opened at $123.54 on Wednesday. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of 135.76 and a beta of 1.20. The company has a 50-day moving average of $112.72 and a two-hundred day moving average of $99.95. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.09.

Iron Mountain (NYSE:IRM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, beating 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 firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the firm earned $1.17 EPS. The business's revenue was up 21.5% on a year-over-year basis. 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 expect 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 issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, June 15th. Iron Mountain's dividend payout ratio (DPR) 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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