Heitman Real Estate Securities LLC Sells 155,361 Shares of Iron Mountain Incorporated (NYSE:IRM)

Heitman Real Estate Securities LLC trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 20.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 610,200 shares of the financial services provider’s stock after selling 155,361 shares during the quarter. Iron Mountain makes up 4.0% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its 6th largest position. Heitman Real Estate Securities LLC’s holdings in Iron Mountain were worth $72,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Iron Mountain during the third quarter valued at approximately $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Iron Mountain during the 2nd quarter valued at approximately $32,000. West Branch Capital LLC acquired a new position in Iron Mountain during the third quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iron Mountain in the second quarter valued at $36,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Iron Mountain during the third quarter worth about $36,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Iron Mountain Stock Down 1.7 %

Shares of NYSE IRM opened at $121.59 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 674.63. The firm has a market capitalization of $35.68 billion, a PE ratio of 337.76, a price-to-earnings-growth ratio of 7.43 and a beta of 0.98. The firm’s 50-day moving average is $120.59 and its 200-day moving average is $106.19. Iron Mountain Incorporated has a 1 year low of $64.66 and a 1 year high of $130.24.

Iron Mountain Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Monday, December 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 2.35%. The ex-dividend date is Monday, December 16th. Iron Mountain’s payout ratio is currently 794.47%.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of Iron Mountain stock in a transaction on Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares of the company’s stock, valued at $34,697,484. The trade was a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value 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. The trade was a 36.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,125 shares of company stock worth $6,613,584. Corporate insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IRM. BNP Paribas raised shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Wells Fargo & Company increased their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays dropped their price target on Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Finally, Stifel Nicolaus raised their price target on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $131.00.

About Iron Mountain

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.