Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) issued its quarterly earnings results on Friday, February 16th. The financial services provider reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.04), Bloomberg Earnings reports. The business had revenue of $991.00 million for the quarter, compared to analysts’ expectations of $964.15 million. Iron Mountain Incorporated (Delaware) REIT had a return on equity of 15.40% and a net margin of 4.78%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 EPS.

Shares of Iron Mountain Incorporated (NYSE IRM) opened at $33.01 on Tuesday. Iron Mountain Incorporated has a twelve month low of $30.95 and a twelve month high of $41.53. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.47 and a quick ratio of 1.47. The company has a market cap of $9,486.61, a PE ratio of 47.84 and a beta of 0.90.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a $0.5875 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $2.35 annualized dividend and a dividend yield of 7.12%. Iron Mountain Incorporated (Delaware) REIT’s dividend payout ratio is currently 340.58%.

In related news, insider William L. Meaney sold 11,014 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $37.09, for a total transaction of $408,509.26. Following the completion of the transaction, the insider now owns 111,592 shares in the company, valued at approximately $4,138,947.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Walter C. Rakowich sold 1,734 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $36.17, for a total transaction of $62,718.78. Following the transaction, the director now owns 17,676 shares of the company’s stock, valued at approximately $639,340.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,306 shares of company stock valued at $1,325,261. Company insiders own 1.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in Iron Mountain Incorporated (Delaware) REIT by 29.2% during the third quarter. Wells Fargo & Company MN now owns 417,024 shares of the financial services provider’s stock worth $16,222,000 after buying an additional 94,201 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Iron Mountain Incorporated (Delaware) REIT by 25.7% during the second quarter. Toronto Dominion Bank now owns 83,270 shares of the financial services provider’s stock valued at $2,861,000 after purchasing an additional 17,028 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Iron Mountain Incorporated (Delaware) REIT by 0.5% during the third quarter. Parametric Portfolio Associates LLC now owns 528,690 shares of the financial services provider’s stock valued at $20,566,000 after purchasing an additional 2,780 shares in the last quarter. Woodstock Corp lifted its holdings in Iron Mountain Incorporated (Delaware) REIT by 48.7% during the fourth quarter. Woodstock Corp now owns 25,148 shares of the financial services provider’s stock valued at $949,000 after purchasing an additional 8,236 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Iron Mountain Incorporated (Delaware) REIT by 210.7% in the fourth quarter. IFP Advisors Inc now owns 20,509 shares of the financial services provider’s stock valued at $774,000 after buying an additional 13,909 shares during the last quarter. 89.22% of the stock is currently owned by institutional investors and hedge funds.

IRM has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. TheStreet downgraded shares of Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a report on Thursday, December 7th. Stifel Nicolaus dropped their price target on shares of Iron Mountain Incorporated (Delaware) REIT from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Finally, ValuEngine cut shares of Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.40.

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Iron Mountain Incorporated (Delaware) REIT Company 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.

Earnings History for Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM)

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