Vert Asset Management LLC Raises Holdings in Iron Mountain Incorporated (NYSE:IRM)

Vert Asset Management LLC boosted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,937 shares of the financial services provider’s stock after buying an additional 2,273 shares during the period. Iron Mountain makes up about 4.9% of Vert Asset Management LLC’s investment portfolio, making the stock its 8th largest holding. Vert Asset Management LLC’s holdings in Iron Mountain were worth $14,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its stake in shares of Iron Mountain by 11.6% in the first quarter. Daiwa Securities Group Inc. now owns 4,562,165 shares of the financial services provider’s stock worth $365,931,000 after buying an additional 475,849 shares in the last quarter. Legal & General Group Plc raised its holdings in Iron Mountain by 49.2% in the 2nd quarter. Legal & General Group Plc now owns 3,899,276 shares of the financial services provider’s stock worth $349,453,000 after acquiring an additional 1,286,694 shares during the last quarter. AGF Management Ltd. lifted its position in Iron Mountain by 76.3% in the 2nd quarter. AGF Management Ltd. now owns 2,245,393 shares of the financial services provider’s stock valued at $201,232,000 after acquiring an additional 972,101 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Iron Mountain by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,126,237 shares of the financial services provider’s stock valued at $190,553,000 after purchasing an additional 6,562 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of Iron Mountain by 7,892.6% in the 1st quarter. Centersquare Investment Management LLC now owns 1,538,486 shares of the financial services provider’s stock worth $119,263,000 after purchasing an additional 1,519,237 shares in the last quarter. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Up 1.0 %

Shares of IRM stock opened at $125.74 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 674.63. Iron Mountain Incorporated has a 12 month low of $57.36 and a 12 month high of $125.81. The stock has a market cap of $36.86 billion, a P/E ratio of 190.52, a P/E/G ratio of 7.22 and a beta of 1.00. The company has a 50 day simple moving average of $115.43 and a two-hundred day simple moving average of $96.71.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.59). Iron Mountain had a return on equity of 595.44% and a net margin of 3.94%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company posted $0.94 earnings per share. The company’s revenue was up 13.0% compared to the same quarter last year. On average, research analysts expect that Iron Mountain Incorporated will post 4.17 earnings per share for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.715 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.86 annualized dividend and a yield of 2.27%. This is an increase from Iron Mountain’s previous quarterly dividend of $0.65. Iron Mountain’s dividend payout ratio is currently 433.33%.

Analysts Set New Price Targets

IRM has been the subject of a number of recent analyst reports. Barclays boosted their target price on Iron Mountain from $91.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on shares of Iron Mountain from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus raised their target price on shares of Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price target on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Moderate Buy” and an average price target of $115.50.

Insiders Place Their Bets

In other news, EVP Edward Baker-Greene sold 2,262 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the transaction, the executive vice president now directly owns 9,049 shares in the company, valued at $993,127.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Edward Baker-Greene sold 2,262 shares of Iron Mountain stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total transaction of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company’s stock, valued at approximately $993,127.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William L. Meaney sold 15,875 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,503 shares of company stock worth $3,511,505. Corporate insiders own 2.10% of the company’s stock.

Iron Mountain Company Profile

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.