Iron Mountain Incorporated (NYSE:IRM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Moderate Buy: Six analysts give IRM a consensus "Moderate Buy" (4 buys, 2 holds) with a one-year average target of $116.60; recent price targets include Barclays $127 (overweight) and Loop Capital $130.
• Significant insider selling: Insiders sold 391,931 shares worth $41.18M in the last 90 days, including Director Jennifer Allerton (7,000 shares at $108.88) and EVP Mark Kidd (6,000 shares at $107.27), leaving insiders with 1.90% ownership.
• Dividend and payout: Iron Mountain declared a $0.864 quarterly dividend ($3.46 annualized) payable April 3 for a 3.2% yield, while the reported payout ratio is an unusually high 720.83%.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) has received a consensus rating of "Moderate Buy" from the six research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $116.60.

IRM has been the subject of several research analyst reports. Barclays upped their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. Weiss Ratings reissued a "hold (c)" rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Finally, Loop Capital set a $130.00 target price on Iron Mountain in a report on Wednesday, March 4th.

Insider Buying and Selling

In other news, Director Jennifer Allerton sold 7,000 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $108.88, for a total value of $762,160.00. Following the transaction, the director owned 11,541 shares in the company, valued at $1,256,584.08. This represents a 37.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark Kidd sold 6,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.27, for a total transaction of $643,620.00. Following the completion of the sale, the executive vice president directly owned 131,507 shares of the company's stock, valued at $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. In the last ninety days, insiders sold 391,931 shares of company stock valued at $41,180,243. Corporate insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRM. World Investment Advisors boosted its stake in shares of Iron Mountain by 24.0% during the 4th quarter. World Investment Advisors now owns 13,880 shares of the financial services provider's stock valued at $1,151,000 after buying an additional 2,686 shares during the period. Corient Private Wealth LLC increased its stake in shares of Iron Mountain by 4.3% in the fourth quarter. Corient Private Wealth LLC now owns 211,327 shares of the financial services provider's stock worth $17,536,000 after acquiring an additional 8,803 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Iron Mountain by 11.0% in the fourth quarter. Hsbc Holdings PLC now owns 1,055,775 shares of the financial services provider's stock worth $87,577,000 after acquiring an additional 104,199 shares during the last quarter. Bayban purchased a new stake in shares of Iron Mountain during the fourth quarter worth $33,000. Finally, SHP Wealth Management purchased a new stake in shares of Iron Mountain during the fourth quarter worth $145,000. Institutional investors and hedge funds own 80.13% of the company's stock.

Iron Mountain Price Performance

Shares of IRM opened at $106.83 on Friday. The company has a 50-day moving average of $99.25 and a two-hundred day moving average of $95.86. The stock has a market cap of $31.60 billion, a price-to-earnings ratio of 222.55 and a beta of 1.13. Iron Mountain has a one year low of $72.33 and a one year high of $115.24.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Monday, March 16th will be given a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, March 16th. Iron Mountain's payout ratio is presently 720.83%.

About Iron Mountain

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.