IRM

Iron Mountain (IRM) Declares $0.65 Dividend

Iron Mountain said on February 22, 2024 that its board of directors declared a regular quarterly dividend of $0.65 per share ($2.60 annualized). Previously, the company paid $0.65 per share.

Shares must be purchased before the ex-div date of March 14, 2024 to qualify for the dividend. Shareholders of record as of March 15, 2024 will receive the payment on April 4, 2024.

At the current share price of $72.10 / share, the stock's dividend yield is 3.61%.

Looking back five years and taking a sample every week, the average dividend yield has been 6.33%, the lowest has been 3.78%, and the highest has been 11.04%. The standard deviation of yields is 1.85 (n=234).

The current dividend yield is 1.47 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 4.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.05%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1557 funds or institutions reporting positions in Iron Mountain. This is an increase of 51 owner(s) or 3.39% in the last quarter. Average portfolio weight of all funds dedicated to IRM is 0.27%, an increase of 2.83%. Total shares owned by institutions decreased in the last three months by 1.01% to 266,946K shares. IRM / Iron Mountain Incorporated Put/Call Ratios The put/call ratio of IRM is 0.76, indicating a bullish outlook.

Analyst Price Forecast Suggests 5.75% Downside

As of January 20, 2024, the average one-year price target for Iron Mountain is 67.96. The forecasts range from a low of 44.44 to a high of $78.75. The average price target represents a decrease of 5.75% from its latest reported closing price of 72.10.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Iron Mountain is 6,126MM, an increase of 11.78%. The projected annual non-GAAP EPS is 2.16.

What are Other Shareholders Doing?

IRM / Iron Mountain Incorporated Shares Held by Institutions

Cohen & Steers holds 22,476K shares representing 7.70% ownership of the company. In it's prior filing, the firm reported owning 7,440K shares, representing an increase of 66.90%. The firm increased its portfolio allocation in IRM by 212.96% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 12,024K shares representing 4.12% ownership of the company. In it's prior filing, the firm reported owning 12,286K shares, representing a decrease of 2.18%. The firm increased its portfolio allocation in IRM by 11.81% over the last quarter.

AMECX - INCOME FUND OF AMERICA holds 10,411K shares representing 3.57% ownership of the company. In it's prior filing, the firm reported owning 12,762K shares, representing a decrease of 22.58%. The firm decreased its portfolio allocation in IRM by 14.26% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,075K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 9,064K shares, representing an increase of 0.12%. The firm increased its portfolio allocation in IRM by 8.73% over the last quarter.

Geode Capital Management holds 7,065K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 7,538K shares, representing a decrease of 6.70%. The firm decreased its portfolio allocation in IRM by 3.16% over the last quarter.

Iron Mountain Background Information
(This description is provided by the company.)

Iron Mountain Incorporated, 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 nearly 93 million square feet across approximately 1,450 facilities in 56 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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