Cbre Investment Management Listed Real Assets LLC Increases Holdings in Iron Mountain Incorporated (NYSE:IRM)

Cbre Investment Management Listed Real Assets LLC lifted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 158.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 541,028 shares of the financial services provider’s stock after buying an additional 331,536 shares during the period. Cbre Investment Management Listed Real Assets LLC’s holdings in Iron Mountain were worth $56,867,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IRM. Key Financial Inc lifted its stake in Iron Mountain by 25,100.0% in the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider’s stock valued at $26,000 after buying an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new stake in Iron Mountain in the 4th quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain in the 3rd quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Iron Mountain in the 3rd quarter valued at approximately $36,000. Finally, Dunhill Financial LLC lifted its stake in Iron Mountain by 50.5% in the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after buying an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Down 2.1 %

Shares of Iron Mountain stock opened at $88.28 on Wednesday. The company has a fifty day moving average price of $101.46 and a 200 day moving average price of $111.56. Iron Mountain Incorporated has a twelve month low of $73.53 and a twelve month high of $130.24. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 144.72, a price-to-earnings-growth ratio of 5.15 and a beta of 1.01.

Iron Mountain (NYSE:IRM) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.70). Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company posted $0.52 earnings per share. Analysts forecast that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 17th will be given a dividend of $0.785 per share. This represents a $3.14 dividend on an annualized basis and a yield of 3.56%. This is a boost from Iron Mountain’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, March 17th. Iron Mountain’s dividend payout ratio is 514.75%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IRM. BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a report on Wednesday, November 6th. Royal Bank of Canada boosted their price target on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. StockNews.com upgraded Iron Mountain from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $127.67.

Insider Buying and Selling

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. This represents a 95.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mithu Bhargava sold 8,263 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $104.49, for a total transaction of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 343,114 shares of company stock valued at $33,323,682. Company 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.