Iron Mountain Incorporated (Delaware) REIT (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. Iron Mountain Incorporated (Delaware) REIT had a return on equity of 15.40% and a net margin of 4.78%. The business had revenue of $991.00 million for the quarter, compared to analysts’ expectations of $964.15 million. During the same quarter in the prior year, the business earned $0.26 EPS. The company’s revenue was up 6.1% compared to the same quarter last year.

Iron Mountain Incorporated (NYSE:IRM) opened at $33.01 on Tuesday. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.47 and a current ratio of 1.47. Iron Mountain Incorporated has a 52 week low of $30.95 and a 52 week high of $41.53. The company has a market cap of $9,486.61, a P/E ratio of 47.84 and a beta of 0.90.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a dividend of $0.5875 per share. 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 (DPR) is presently 340.58%.

In other Iron Mountain Incorporated (Delaware) REIT news, insider William L. Meaney sold 11,014 shares of the company’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 transaction, the insider now owns 111,592 shares in the company, valued at approximately $4,138,947.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William L. Meaney sold 24,137 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $32.08, for a total transaction of $774,314.96. Following the completion of the sale, the insider now directly owns 93,587 shares in the company, valued at $3,002,270.96. The disclosure for this sale can be found here. Insiders have sold a total of 39,306 shares of company stock worth $1,325,261 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Elkfork Partners LLC purchased a new position in Iron Mountain Incorporated (Delaware) REIT during the fourth quarter valued at $442,000. Certified Advisory Corp acquired a new stake in shares of Iron Mountain Incorporated (Delaware) REIT in the fourth quarter valued at about $128,000. KCM Investment Advisors LLC acquired a new stake in shares of Iron Mountain Incorporated (Delaware) REIT in the fourth quarter valued at about $374,000. Xact Kapitalforvaltning AB raised its position in shares of Iron Mountain Incorporated (Delaware) REIT by 15.5% in the fourth quarter. Xact Kapitalforvaltning AB now owns 36,065 shares of the financial services provider’s stock valued at $1,361,000 after buying an additional 4,829 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Iron Mountain Incorporated (Delaware) REIT by 171.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 144,796 shares of the financial services provider’s stock valued at $5,463,000 after buying an additional 91,515 shares during the last quarter. 89.22% of the stock is currently owned by hedge funds and other institutional investors.

IRM has been the subject of a number of recent analyst reports. TheStreet cut shares of Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a research note on Thursday, December 7th. ValuEngine cut shares of Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Zacks Investment Research cut shares of Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Finally, Stifel Nicolaus reduced 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 report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Iron Mountain Incorporated (Delaware) REIT has an average rating of “Hold” and an average target price 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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