Vert Asset Management LLC Purchases 6,780 Shares of Iron Mountain Incorporated (NYSE:IRM)

Vert Asset Management LLC raised its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,046 shares of the financial services provider's stock after acquiring an additional 6,780 shares during the quarter. Iron Mountain comprises approximately 4.0% of Vert Asset Management LLC's holdings, making the stock its 10th largest position. Vert Asset Management LLC's holdings in Iron Mountain were worth $11,705,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wealthfront Advisers LLC lifted its stake in shares of Iron Mountain by 9,843.3% in the fourth quarter. Wealthfront Advisers LLC now owns 6,864,832 shares of the financial services provider's stock worth $721,562,000 after buying an additional 6,795,792 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Iron Mountain by 56.1% in the fourth quarter. Northern Trust Corp now owns 4,326,476 shares of the financial services provider's stock worth $454,756,000 after buying an additional 1,554,746 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Iron Mountain by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,219,263 shares of the financial services provider's stock worth $443,476,000 after buying an additional 15,097 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Iron Mountain by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,478,790 shares of the financial services provider's stock worth $365,656,000 after buying an additional 92,475 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Iron Mountain in the fourth quarter worth $348,249,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IRM. Barclays boosted their price objective on shares of Iron Mountain from $118.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research note on Tuesday, February 18th. 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, 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 price objective for the company. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Iron Mountain presently has an average rating of "Buy" and an average price target of $121.71.

Iron Mountain Price Performance

IRM stock traded down $0.16 on Wednesday, reaching $100.90. 1,058,623 shares of the company were exchanged, compared to its average volume of 1,856,975. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24. The stock's fifty day moving average price is $92.42 and its 200 day moving average price is $97.91. The firm has a market capitalization of $29.77 billion, a PE ratio of 165.41, a PEG ratio of 5.15 and a beta of 1.09.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.01. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Iron Mountain's revenue was up 7.9% compared to the same quarter last year. As a group, research analysts expect that Iron Mountain Incorporated will post 4.54 EPS for the current fiscal year.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Monday, June 16th will be issued a $0.785 dividend. This represents a $3.14 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Monday, June 16th. Iron Mountain's dividend payout ratio (DPR) is presently 765.85%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 69,125 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $86.11, for a total value of $5,952,353.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Greg W. Mcintosh sold 8,398 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $96.14, for a total transaction of $807,383.72. Following the completion of the sale, the executive vice president now directly owns 70,114 shares in the company, valued at $6,740,759.96. This trade represents a 10.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,673 shares of company stock valued at $20,319,408 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

About Iron Mountain

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.