Iron Mountain Incorporated (Delaware) REIT (IRM) Expected to Post Earnings of $0.57 Per Share

Brokerages predict that Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) will post earnings of $0.57 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Iron Mountain Incorporated (Delaware) REIT’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.53. Iron Mountain Incorporated (Delaware) REIT posted earnings of $0.50 per share in the same quarter last year, which suggests a positive year over year growth rate of 14%. The business is scheduled to report its next quarterly earnings results on Thursday, February 22nd.

On average, analysts expect that Iron Mountain Incorporated (Delaware) REIT will report full year earnings of $2.14 per share for the current fiscal year, with EPS estimates ranging from $2.11 to $2.16. For the next financial year, analysts expect that the firm will post earnings of $2.34 per share, with EPS estimates ranging from $2.24 to $2.45. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Iron Mountain Incorporated (Delaware) REIT.

Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Iron Mountain Incorporated (Delaware) REIT had a return on equity of 15.49% and a net margin of 5.54%. The business had revenue of $966.00 million during the quarter, compared to analysts’ expectations of $960.99 million. During the same quarter last year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis.

A number of research analysts have recently weighed in on the company. Zacks Investment Research cut Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. ValuEngine upgraded Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. TheStreet lowered Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a research note on Thursday, December 7th. Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 price objective (up previously from $40.00) on shares of Iron Mountain Incorporated (Delaware) REIT in a research note on Friday, October 20th. Finally, Evercore ISI assumed coverage on Iron Mountain Incorporated (Delaware) REIT in a research note on Wednesday, October 18th. They set an “outperform” rating and a $46.00 price objective on the stock. Two equities research 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 company’s stock. Iron Mountain Incorporated (Delaware) REIT currently has an average rating of “Hold” and a consensus price target of $41.20.

In related news, CMO Theodore Maclean sold 1,495 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $40.07, for a total transaction of $59,904.65. Following the sale, the chief marketing officer now owns 7,184 shares of the company’s stock, valued at $287,862.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick J. Keddy sold 23,428 shares of the stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $39.04, for a total value of $914,629.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,203 shares of company stock worth $1,190,879. Corporate insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of IRM. BlackRock Inc. boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 5.0% in the 2nd quarter. BlackRock Inc. now owns 18,924,442 shares of the financial services provider’s stock worth $650,244,000 after buying an additional 896,751 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 25.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,579,236 shares of the financial services provider’s stock worth $139,231,000 after buying an additional 720,270 shares during the last quarter. Pictet Asset Management Ltd. boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 89.2% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,462,729 shares of the financial services provider’s stock worth $56,900,000 after buying an additional 689,800 shares during the last quarter. Athos Capital Ltd boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 7,231.4% in the 3rd quarter. Athos Capital Ltd now owns 675,958 shares of the financial services provider’s stock worth $9,112,000 after buying an additional 666,738 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 40.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,282,533 shares of the financial services provider’s stock worth $88,518,000 after buying an additional 652,239 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Iron Mountain Incorporated (NYSE:IRM) traded down $0.21 during mid-day trading on Friday, hitting $36.83. The stock had a trading volume of 1,122,468 shares, compared to its average volume of 1,577,183. Iron Mountain Incorporated has a twelve month low of $32.53 and a twelve month high of $41.53. The stock has a market capitalization of $10,420.00, a PE ratio of 45.47, a P/E/G ratio of 5.25 and a beta of 1.00. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 3.59.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were paid a dividend of $0.5875 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 6.38%. This is a positive change from Iron Mountain Incorporated (Delaware) REIT’s previous quarterly dividend of $0.55. Iron Mountain Incorporated (Delaware) REIT’s dividend payout ratio (DPR) is presently 290.12%.

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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.

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