Iron Mountain Inc (IRM) Position Lifted by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV lifted its stake in Iron Mountain Inc (NYSE:IRM) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,313 shares of the financial services provider’s stock after buying an additional 2,144 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Iron Mountain were worth $3,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Iron Mountain by 15.5% during the 1st quarter. Royal Bank of Canada now owns 388,910 shares of the financial services provider’s stock worth $12,781,000 after purchasing an additional 52,277 shares during the period. Principal Financial Group Inc. boosted its stake in Iron Mountain by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 431,673 shares of the financial services provider’s stock worth $14,185,000 after purchasing an additional 6,112 shares during the period. Suntrust Banks Inc. boosted its stake in Iron Mountain by 24.0% during the 1st quarter. Suntrust Banks Inc. now owns 31,365 shares of the financial services provider’s stock worth $1,030,000 after purchasing an additional 6,065 shares during the period. DnB Asset Management AS boosted its stake in Iron Mountain by 8.0% during the 2nd quarter. DnB Asset Management AS now owns 28,242 shares of the financial services provider’s stock worth $989,000 after purchasing an additional 2,100 shares during the period. Finally, IFM Investors Pty Ltd boosted its stake in Iron Mountain by 34.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 14,156 shares of the financial services provider’s stock worth $496,000 after purchasing an additional 3,623 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on IRM shares. Zacks Investment Research upgraded shares of Iron Mountain from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, October 29th. Barclays started coverage on shares of Iron Mountain in a research note on Wednesday, July 18th. They set an “equal weight” rating and a $39.00 price target for the company. ValuEngine cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Stifel Nicolaus cut shares of Iron Mountain from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $34.00 in a research note on Friday, October 26th. Finally, Credit Suisse Group started coverage on shares of Iron Mountain in a research note on Friday, August 10th. They set an “underperform” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $37.50.

IRM stock opened at $31.18 on Friday. Iron Mountain Inc has a one year low of $30.22 and a one year high of $41.53. The firm has a market capitalization of $8.92 billion, a PE ratio of 14.64 and a beta of 0.77. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 4.18.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.28 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $1.05 billion. As a group, research analysts expect that Iron Mountain Inc will post 2.14 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Monday, December 17th will be paid a $0.611 dividend. This represents a $2.44 annualized dividend and a dividend yield of 7.84%. The ex-dividend date of this dividend is Friday, December 14th. This is a boost from Iron Mountain’s previous quarterly dividend of $0.59. Iron Mountain’s dividend payout ratio (DPR) is 110.33%.

Iron Mountain Profile

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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