Strs Ohio Raises Stake in Iron Mountain Incorporated $IRM

Key Points

• Strs Ohio increased its stake in Iron Mountain by 60.8% in Q4 to 414,128 shares (about $34.35M), and institutional investors now own roughly 80.13% of the company.
• Q1 beat and guidance raise: Iron Mountain reported revenue up ~21.5% with EPS above estimates and raised guidance (Q2 EPS 1.400; FY2026 EPS 5.790–5.860), citing accelerating AI-driven data-center demand.
• The board declared a quarterly dividend of $0.864 (annualized $3.46, ~2.7% yield) despite a very high payout ratio (~380%), and insiders have sold about 451,648 shares (~$48.3M) in the past 90 days.

Strs Ohio grew its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 60.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 414,128 shares of the financial services provider's stock after buying an additional 156,613 shares during the period. Strs Ohio owned 0.14% of Iron Mountain worth $34,352,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IRM. Vanguard Group Inc. raised its stake in shares of Iron Mountain by 0.4% during the third quarter. Vanguard Group Inc. now owns 47,253,100 shares of the financial services provider's stock worth $4,816,981,000 after purchasing an additional 188,213 shares during the last quarter. State Street Corp grew its position in Iron Mountain by 1.9% in the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider's stock valued at $1,759,494,000 after buying an additional 322,144 shares during the last quarter. Invesco Ltd. grew its position in Iron Mountain by 18.1% in 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. Dimensional Fund Advisors LP increased its stake in Iron Mountain by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,348,039 shares of the financial services provider's stock valued at $443,222,000 after buying an additional 55,273 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Iron Mountain by 597.9% during the 3rd 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 worth $322,292,000 after buying an additional 2,708,560 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Stock Performance

IRM opened at $127.09 on Friday. The company has a market cap of $37.81 billion, a price-to-earnings ratio of 139.66 and a beta of 1.21. Iron Mountain Incorporated has a one year low of $77.77 and a one year high of $127.94. The business's fifty day moving average is $108.73 and its two-hundred day moving average is $98.23.

Iron Mountain (NYSE:IRM - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.93. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the business posted $1.17 earnings per share. The business's revenue for the quarter 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. On average, analysts predict that Iron Mountain Incorporated will post 5.26 EPS for the current fiscal year.

Iron Mountain Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on IRM shares. Wells Fargo & Company raised their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Loop Capital set a $130.00 price target on shares of Iron Mountain in a research note on Wednesday, March 4th. Truist Financial set a $140.00 price objective on shares of Iron Mountain in a research report on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Iron Mountain in a report on Tuesday, April 21st. Finally, Barclays boosted their target price on Iron Mountain from $126.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $131.67.

Insider Buying and Selling at Iron Mountain

In other news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $102.71, for a total value of $616,260.00. Following the sale, the executive vice president directly owned 125,507 shares in the company, valued at $12,890,823.97. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $102.71, for a total transaction of $3,951,664.54. Following the transaction, the chief executive officer directly owned 38,474 shares of the company's stock, valued at approximately $3,951,664.54. This trade 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 451,648 shares of company stock worth $48,297,449 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

Trending Headlines about Iron Mountain

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

• Positive Sentiment: Q1 beat & guidance raise — Iron Mountain reported stronger-than-expected Q1 results (revenue up ~21.5%, AFFO and EPS beat) and raised FY2026 and Q2 guidance, signaling sustained demand across data centers and digital services. Press Release / Slide Deck
• Positive Sentiment: AI/data-center tailwind — Reuters and other outlets attribute the guidance lift to accelerating demand from AI workloads driving colocation and data-center services, a higher-growth area for IRM. Iron Mountain raises annual forecast on AI-fueled data center boom
• Positive Sentiment: AFFO and profitability momentum — Analysts highlighted strong AFFO growth (~22%) and improved cash-generation metrics that underpin the stock’s re-rating and dividend capacity. Zacks: Q1 AFFO Tops Estimates
• Positive Sentiment: Analyst upgrade / higher target — JPMorgan upgraded IRM to “Overweight” and raised its target to $138, reinforcing buy-side momentum and setting an upgraded valuation anchor. Benzinga
• Neutral Sentiment: Dividend declared — Board announced a $0.864 quarterly dividend (ex-dividend June 15), which supports the REIT income story but is expected rather than transformative. (Company release / earnings materials linked above.)
• Neutral Sentiment: Market technicals and coverage — Coverage pieces and trade notes flagged IRM’s move into resistance/record-high territory after the print, which can attract momentum traders but may also invite short-term profit-taking. Invezz: resistance story
• Negative Sentiment: Insider & institutional selling — Reports note substantial insider sales recently (including multiple executive disposals) and large institutional position shifts, which could concern some investors about near-term liquidity or tax-driven selling pressure.

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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