Iron Mountain Inc (IRM) Position Boosted by Credit Suisse AG
Credit Suisse AG lifted its position in shares of Iron Mountain Inc (NYSE:IRM) by 7.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 400,319 shares of the financial services provider’s stock after buying an additional 27,705 shares during the period. Credit Suisse AG owned 0.14% of Iron Mountain worth $13,819,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in IRM. BlackRock Inc. lifted its stake in shares of Iron Mountain by 2.6% during the third quarter. BlackRock Inc. now owns 19,893,119 shares of the financial services provider’s stock valued at $686,710,000 after buying an additional 509,524 shares during the period. AXA raised its stake in Iron Mountain by 1,856.0% during the third quarter. AXA now owns 365,064 shares of the financial services provider’s stock worth $12,602,000 after purchasing an additional 346,400 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in Iron Mountain by 21.7% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,787,952 shares of the financial services provider’s stock worth $62,596,000 after purchasing an additional 319,006 shares during the period. Moody National Bank Trust Division raised its stake in Iron Mountain by 1,004.4% during the third quarter. Moody National Bank Trust Division now owns 204,475 shares of the financial services provider’s stock worth $7,059,000 after purchasing an additional 185,960 shares during the period. Finally, Summit Global Investments purchased a new position in Iron Mountain during the second quarter worth approximately $5,579,000. 88.17% of the stock is currently owned by institutional investors and hedge funds.
IRM has been the topic of a number of recent analyst reports. Stifel Nicolaus downgraded shares of Iron Mountain from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $34.00 in a research note on Friday, October 26th. Barclays cut their price target on shares of Iron Mountain from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 30th. Zacks Investment Research raised shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, November 19th. Bank of America initiated coverage on shares of Iron Mountain in a research note on Tuesday, November 20th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, Berenberg Bank initiated coverage on shares of Iron Mountain in a research note on Thursday, September 20th. They set a “buy” rating and a $52.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.00.
Iron Mountain (NYSE:IRM) last released its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Iron Mountain had a net margin of 5.49% and a return on equity of 14.71%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Research analysts anticipate that Iron Mountain Inc will post 2.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Monday, December 17th will be given a $0.611 dividend. The ex-dividend date is Friday, December 14th. This represents a $2.44 annualized dividend and a dividend yield of 7.11%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.59. Iron Mountain’s dividend payout ratio is presently 110.33%.
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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