Creative Planning bought a new position in shares of Iron Mountain Inc (NYSE:IRM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,909 shares of the financial services provider’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Synovus Financial Corp boosted its stake in Iron Mountain by 402.0% during the second quarter. Synovus Financial Corp now owns 3,012 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,412 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in Iron Mountain during the second quarter worth $115,000. Klingenstein Fields & Co. LLC bought a new position in Iron Mountain during the second quarter worth $202,000. Qube Research & Technologies Ltd boosted its stake in Iron Mountain by 775.9% during the second quarter. Qube Research & Technologies Ltd now owns 5,772 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 5,113 shares in the last quarter. Finally, Chemical Bank bought a new position in Iron Mountain during the second quarter worth $207,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.

IRM has been the topic of several research analyst reports. Barclays initiated coverage on shares of Iron Mountain in a research note on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 target price on the stock. Zacks Investment Research raised shares of Iron Mountain from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. Credit Suisse Group initiated coverage on shares of Iron Mountain in a research note on Friday, August 10th. They issued an “underperform” rating and a $25.00 price objective on the stock. Berenberg Bank initiated coverage on shares of Iron Mountain in a research note on Thursday, September 20th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, ValuEngine lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.50.

Iron Mountain stock opened at $32.77 on Friday. Iron Mountain Inc has a 1-year low of $30.22 and a 1-year high of $41.53. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 15.38 and a beta of 0.77. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.97 and a current ratio of 0.97.

Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Iron Mountain had a net margin of 5.49% and a return on equity of 14.71%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Equities research analysts predict that Iron Mountain Inc will post 2.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Monday, December 17th will be paid a $0.611 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 7.46%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. The ex-dividend date is Friday, December 14th. Iron Mountain’s dividend payout ratio (DPR) is 110.33%.

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About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 85 million square feet across more than 1,400 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.

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Institutional Ownership by Quarter for Iron Mountain (NYSE:IRM)

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