Iron Mountain Incorporated Plans Quarterly Dividend of $0.86 (NYSE:IRM)

Key Points

• Iron Mountain declared a quarterly dividend of $0.864 per share, payable October 2 to shareholders of record on September 15, representing an annualized dividend of about $3.45 and a 2.7% yield.
• The company’s current payout ratio is high at 148.1%, meaning earnings do not fully cover the dividend; however, analysts expect next year’s earnings to reduce the projected payout ratio to 57.8%.
• Iron Mountain exceeded quarterly expectations with $1.44 in adjusted earnings per share and $2.03 billion in revenue, up 18.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with a $134.33 average price target.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.864 per share by the financial services provider on Friday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Iron Mountain has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 3 years. Iron Mountain has a payout ratio of 148.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Iron Mountain to earn $5.97 per share next year, which means the company should continue to be able to cover its $3.45 annual dividend with an expected future payout ratio of 57.8%.

Iron Mountain Price Performance

Shares of NYSE IRM traded up $1.75 during trading on Wednesday, hitting $127.26. The stock had a trading volume of 2,711,903 shares, compared to its average volume of 1,792,236. The firm has a fifty day moving average of $125.05 and a two-hundred day moving average of $114.40. The company has a market capitalization of $37.86 billion, a PE ratio of 139.85 and a beta of 1.20. Iron Mountain has a 12 month low of $77.77 and a 12 month high of $134.68.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.90. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period last year, the firm earned $1.24 earnings per share. The firm's revenue was up 18.5% on a year-over-year basis. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. On average, equities analysts expect that Iron Mountain will post 5.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IRM has been the subject of several analyst reports. Wells Fargo & Company increased their price objective 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. Zacks Research raised Iron Mountain from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Weiss Ratings raised Iron Mountain from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, July 28th. Barclays increased their price target on Iron Mountain from $127.00 to $143.00 and gave the company an "overweight" rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen cut Iron Mountain from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $134.33.

Iron Mountain Company 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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