Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Waterfront Capital Partners LLC

Waterfront Capital Partners LLC lessened its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 45.0% in the 3rd quarter, Holdings Channel reports. The firm owned 240,592 shares of the financial services provider’s stock after selling 197,141 shares during the period. Iron Mountain accounts for 3.9% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 8th largest holding. Waterfront Capital Partners LLC’s holdings in Iron Mountain were worth $28,590,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of IRM. Price T Rowe Associates Inc. MD raised its position in shares of Iron Mountain by 22.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 592,773 shares of the financial services provider’s stock worth $47,547,000 after purchasing an additional 110,551 shares during the last quarter. Tidal Investments LLC raised its position in shares of Iron Mountain by 284.1% during the 1st quarter. Tidal Investments LLC now owns 18,416 shares of the financial services provider’s stock worth $1,477,000 after purchasing an additional 13,621 shares during the last quarter. Swedbank AB acquired a new position in shares of Iron Mountain during the 1st quarter worth about $19,445,000. Atria Investments Inc acquired a new position in shares of Iron Mountain during the 1st quarter worth about $1,873,000. Finally, PGGM Investments raised its holdings in Iron Mountain by 40.7% in the 1st quarter. PGGM Investments now owns 22,369 shares of the financial services provider’s stock valued at $1,794,000 after acquiring an additional 6,475 shares during the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Iron Mountain Stock Performance

NYSE:IRM opened at $124.24 on Friday. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $36.46 billion, a P/E ratio of 345.12, a PEG ratio of 7.47 and a beta of 0.99. The company has a 50 day moving average price of $120.22 and a 200 day moving average price of $105.40. Iron Mountain Incorporated has a fifty-two week low of $62.95 and a fifty-two week high of $130.24.

Iron Mountain Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.30%. Iron Mountain’s payout ratio is currently 794.47%.

Insider Buying and Selling

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $118.97, for a total value of $1,888,648.75. Following the completion of the transaction, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $35,173,480.50. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Wendy J. Murdock sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the transaction, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. This represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,125 shares of company stock valued at $6,613,584. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays cut their price objective on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Stifel Nicolaus increased their price objective on shares of Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company increased 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, October 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $131.00.

Iron Mountain 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.