Iron Mountain Inc. Acquires 66 Acres in White Oak for Data Center Development

Data center developer picks up 66 acres in White Oak for $8M

Iron Mountain Inc., a 73-year-old firm listed on the New York Stock Exchange, purchased 66 acres in White Oak Technology Park in Henrico for $8 million. The land acquisition is aimed at expanding their data center operations, which have been growing across Europe, India, and the U.S. This development adds to the increasing investment in data centers in Virginia.

Iron Mountain Data Centers

Iron Mountain Incorporated: Share Activity and Analyst Ratings

First National Trust Co Sells 6,142 Shares of Iron Mountain Incorporated (NYSE:IRM)

Assetmark Inc. Acquires 5,502 Shares of Iron Mountain Incorporated (NYSE:IRM)

Iron Mountain Incorporated (NYSE:IRM) Stock Holdings Increased by Entropy Technologies LP

Iron Mountain Incorporated experienced various share activities and received updated analyst ratings. First National Trust Co decreased its holdings by 8.2%, while Assetmark Inc increased its holdings by 12.8%. Several other financial institutions also adjusted their holdings. Analysts from various firms, including The Goldman Sachs Group, BNP Paribas, JPMorgan Chase & Co., Barclays, and Stifel Nicolaus, raised their price targets and ratings, ranging from 'buy' to 'strong-buy'. The company also announced a quarterly dividend of $0.715 per share, payable on January 7th, 2024.

Iron Mountain Incorporated Shares Traded by Various Financial Institutions

Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Catalytic Wealth RIA LLC

Several financial institutions have traded shares of Iron Mountain Incorporated. Catalytic Wealth RIA LLC reduced its holdings by 63.3%, while others such as Assenagon Asset Management S.A., Schmidt P J Investment Management Inc., Raleigh Capital Management Inc., Csenge Advisory Group, and Meiji Yasuda Asset Management Co Ltd. increased their stakes in the company. These activities reflect ongoing investment strategies among financial institutions.

Iron Mountain Incorporated CEO and Director Sell Shares

Iron Mountain Incorporated's CEO, William L. Meaney, and a Director have sold a total of 24,375 shares of the company's stock. The CEO sold 15,875 shares for $1,863,090 on October 7th, while the Director sold 8,500 shares for $989,230 on September 17th. These transactions may reflect a change in the management's outlook or financial needs.

Iron Mountain Incorporated Daily Trading Update

Tyler Stone Wealth Management Boosts Holdings in Iron Mountain Incorporated (NYSE:IRM)

Iron Mountain Incorporated's stock price increased by $2.79 to $119.71 during midday trading on Friday.  1,260,903 shares were traded, compared to the average volume of 1,493,211 shares.  The 52-week low is $58.55 and the 52-week high is $130.24.  The company has a market capitalization of $35.12 billion, a P/E ratio of 332.54, a PEG ratio of 6.86, and a beta of 0.99.  It also has a debt-to-equity ratio of 674.63, a current ratio of 0.75, and a quick ratio of 0.79.

Increased Investor Confidence in Iron Mountain Incorporated

Several investment management firms significantly increased their holdings in Iron Mountain Incorporated's stock during the second and third quarters of 2024.  This includes substantial increases by Tyler Stone Wealth Management (103.8%), Assenagon Asset Management S.A. (0.8%), Schmidt P J Investment Management Inc. (3.6%), Raleigh Capital Management Inc. (2.6%), Csenge Advisory Group (1.2%), and Meiji Yasuda Asset Management Co Ltd (2.8%).  These actions suggest growing confidence in the company's future performance.

Iron Mountain Incorporated Announces Quarterly Dividend

Principal Financial Group Inc. Acquires 11,685 Shares of Iron Mountain Incorporated (NYSE:IRM)

Iron Mountain Incorporated declared a quarterly dividend of $0.715 per share, payable on January 7th, 2025, to stockholders of record on December 16th, 2024. The ex-dividend date is December 16th, 2024.  Note that the payout ratio is 794.47%.

Positive Analyst Ratings and Increased Price Targets for Iron Mountain Incorporated

Multiple financial institutions raised their price targets and issued positive ratings for Iron Mountain Incorporated's stock in late 2024. Barclays increased its target price to $133.00 (from $91.00) with an "overweight" rating; JPMorgan Chase & Co. raised its target to $121.00 (from $82.00), also with an "overweight" rating; Stifel Nicolaus increased its target to $140.00 (from $117.00) with a "buy" rating; BNP Paribas upgraded the stock to a "strong-buy" rating; and Wells Fargo & Company increased its price objective to $135.00 (from $120.00) with an "overweight" rating. MarketBeat.com reports a consensus "Buy" rating with an average price target of $129.80.

Insider Stock Sales at Iron Mountain Incorporated

During August 2024, Iron Mountain Incorporated's COO and EVP sold a combined 3,262 shares of company stock. While this is a relatively small percentage of their total holdings, it could be interpreted as a slightly negative signal depending on the context of the sales.  Over the last 90 days, insiders sold a total of 27,637 shares valued at $3,210,575. Corporate insiders own 2.10% of the company's stock.

Iron Mountain Data Centers (IMDC) operates a global colocation platform that enables customers to build tailored, sustainable, carrier and cloud-neutral data solutions. The company is known for its industry-leading security and compliance, green power solutions, and a growing ecosystem of providers. It is a part of Iron Mountain Inc., which is a world leader in the secure management of data and assets.

Iron Mountain Asset Lifecycle Management

Iron Mountain Media & Archive Services

Iron Mountain Government Solutions

For over 70 years, Iron Mountain Incorporated (NYSE: IRM) has been your strategic partner to care for your information and assets. A global leader in storage and information management services and trusted by more than 225,000 organizations around the world, including 95% of the Fortune 1000, we protect, unlock, and extend the value of your work—whatever it is, wherever it is, however it’s stored. 

We create the framework necessary to bridge the gaps between paper, digital, media, and physical data and extract value along its lifecycle, helping to build your organizational resilience. And all this with a commitment to sustainability at our core.

Our relationship is a true partnership where you trust us not only to preserve institutional knowledge and enhance efficiency, security, and access but to make your work mean more. Because in that work is the power to not only accelerate your business, but elevate it.

Elevate the power of your work.

Livevault

MakeSpace

Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across approximately 1,450 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working.

COM:IRONMOUNTAIN

Iron Mountain Data Centers

Last Close

116.30

21/11 18:39

Market Cap

27.89B

Beta: -

Volume Today

433.21K

Avg: -

Analysis Not Available