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

Waterfront Capital Partners LLC cut its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 1.1% during the 4th quarter, Holdings Channel reports. The firm owned 237,847 shares of the financial services provider’s stock after selling 2,745 shares during the period. Iron Mountain comprises 4.6% of Waterfront Capital Partners LLC’s investment portfolio, making the stock its 7th largest position. Waterfront Capital Partners LLC’s holdings in Iron Mountain were worth $25,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC grew its holdings in Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 7,137 shares during the period. Tidal Investments LLC boosted its position in shares of Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock valued at $2,440,000 after purchasing an additional 14,737 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Iron Mountain by 151.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 5,511 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Iron Mountain in the 4th quarter worth approximately $102,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Iron Mountain during the third quarter valued at approximately $24,122,000. Institutional investors own 80.13% of the company’s stock.

Iron Mountain Trading Up 1.3 %

Shares of NYSE IRM opened at $85.33 on Friday. The firm has a market capitalization of $25.17 billion, a PE ratio of 139.89, a PEG ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a one year low of $72.33 and a one year high of $130.24. The business has a 50-day moving average price of $86.20 and a two-hundred day moving average price of $103.49.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.60 billion. Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. During the same quarter in the prior year, the company posted $0.52 EPS. Research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were given a $0.785 dividend. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain’s dividend payout ratio is presently 514.75%.

Wall Street Analyst Weigh In

Several research firms have issued reports on IRM. Barclays decreased their price target on shares of Iron Mountain from $130.00 to $118.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Truist Financial began coverage on Iron Mountain in a report on Tuesday, April 8th. They issued a “buy” rating and a $95.00 target price on the stock. StockNews.com raised Iron Mountain from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Wells Fargo & Company dropped their price target on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, February 18th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $121.29.

Insider Activity at Iron Mountain

In other Iron Mountain news, CAO Daniel Borges sold 6,433 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 288 shares of the company’s stock, valued at $26,737.92. The trade was a 95.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William L. Meaney sold 69,125 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 318,973 shares of company stock valued at $29,370,872. 2.10% of the stock is owned by corporate insiders.

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.