Commonwealth Bank of Australia Grows Stake in Iron Mountain Incorporated (Delaware) REIT (IRM)

Commonwealth Bank of Australia increased its stake in Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) by 12.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,115 shares of the financial services provider’s stock after purchasing an additional 2,693 shares during the quarter. Commonwealth Bank of Australia’s holdings in Iron Mountain Incorporated (Delaware) REIT were worth $934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Iron Mountain Incorporated (Delaware) REIT by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 43,398,710 shares of the financial services provider’s stock worth $1,491,180,000 after purchasing an additional 151,039 shares in the last quarter. BlackRock Inc. increased its stake in Iron Mountain Incorporated (Delaware) REIT by 5.0% in the 2nd quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after purchasing an additional 896,751 shares in the last quarter. Parnassus Investments CA increased its stake in Iron Mountain Incorporated (Delaware) REIT by 1.0% in the 3rd quarter. Parnassus Investments CA now owns 12,497,627 shares of the financial services provider’s stock worth $486,158,000 after purchasing an additional 122,980 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Iron Mountain Incorporated (Delaware) REIT by 25.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,579,236 shares of the financial services provider’s stock worth $139,231,000 after purchasing an additional 720,270 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Iron Mountain Incorporated (Delaware) REIT by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,530,435 shares of the financial services provider’s stock worth $121,305,000 after purchasing an additional 124,704 shares in the last quarter. 84.22% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on IRM. Zacks Investment Research cut Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “sell” rating in a research note on Tuesday. Robert W. Baird lifted their target price on Iron Mountain Incorporated (Delaware) REIT from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. ValuEngine raised Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Evercore ISI began coverage on Iron Mountain Incorporated (Delaware) REIT in a research note on Wednesday, October 18th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 target price (up previously from $40.00) on shares of Iron Mountain Incorporated (Delaware) REIT in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.20.

Shares of Iron Mountain Incorporated (NYSE:IRM) traded down $0.25 during trading on Friday, hitting $37.73. The stock had a trading volume of 1,085,139 shares, compared to its average volume of 2,373,777. Iron Mountain Incorporated has a fifty-two week low of $32.27 and a fifty-two week high of $41.53. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 3.59. The firm has a market cap of $10,686.90, a price-to-earnings ratio of 47.16, a price-to-earnings-growth ratio of 5.92 and a beta of 1.00.

Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Iron Mountain Incorporated (Delaware) REIT had a return on equity of 15.49% and a net margin of 5.54%. The firm had revenue of $966.00 million during the quarter, compared to analyst estimates of $960.99 million. During the same period in the previous year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. equities research analysts predict that Iron Mountain Incorporated will post 2.14 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued a $0.5875 dividend. This is a positive change from Iron Mountain Incorporated (Delaware) REIT’s previous quarterly dividend of $0.55. This represents a $2.35 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend is Thursday, December 14th. Iron Mountain Incorporated (Delaware) REIT’s payout ratio is 293.75%.

In other news, CMO Theodore Maclean sold 1,495 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $40.07, for a total transaction of $59,904.65. Following the completion of the transaction, the chief marketing officer now directly owns 7,184 shares in the company, valued at $287,862.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stuart B. Brown sold 1,900 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $40.75, for a total value of $77,425.00. Following the transaction, the chief financial officer now owns 4,010 shares of the company’s stock, valued at $163,407.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,703 shares of company stock valued at $1,248,074. Corporate insiders own 1.50% of the company’s stock.

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Iron Mountain Incorporated (Delaware) REIT Profile

Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.

Institutional Ownership by Quarter for Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM)

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