Brokerages Expect Iron Mountain Incorporated (Delaware) REIT (IRM) Will Post Quarterly Sales of $1.02 Billion

Analysts expect Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) to announce sales of $1.02 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Iron Mountain Incorporated (Delaware) REIT’s earnings. The lowest sales estimate is $988.17 million and the highest is $1.04 billion. Iron Mountain Incorporated (Delaware) REIT reported sales of $938.88 million during the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The company is scheduled to report its next earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Iron Mountain Incorporated (Delaware) REIT will report full-year sales of $1.02 billion for the current fiscal year, with estimates ranging from $3.99 billion to $4.22 billion. For the next fiscal year, analysts anticipate that the business will post sales of $4.29 billion per share, with estimates ranging from $4.08 billion to $4.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Iron Mountain Incorporated (Delaware) REIT.

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Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) last issued its quarterly earnings results on Friday, February 16th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.04). Iron Mountain Incorporated (Delaware) REIT had a return on equity of 15.40% and a net margin of 4.78%. The business had revenue of $991.00 million during the quarter, compared to the consensus estimate of $964.15 million. During the same quarter last year, the firm posted $0.26 earnings per share. Iron Mountain Incorporated (Delaware) REIT’s revenue was up 6.1% compared to the same quarter last year.

Several brokerages have commented on IRM. TheStreet cut shares of Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a research report on Thursday, December 7th. Goldman Sachs began coverage on shares of Iron Mountain Incorporated (Delaware) REIT in a research report on Tuesday, March 27th. They issued a “buy” rating and a $41.00 price target on the stock. Stifel Nicolaus dropped their price target on shares of Iron Mountain Incorporated (Delaware) REIT from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, February 20th. Zacks Investment Research cut shares of Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Finally, ValuEngine cut shares of Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $40.50.

Iron Mountain Incorporated (Delaware) REIT stock traded down $0.20 during midday trading on Tuesday, hitting $33.57. The company’s stock had a trading volume of 1,657,473 shares, compared to its average volume of 2,057,353. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 3.00. Iron Mountain Incorporated has a 12 month low of $30.78 and a 12 month high of $41.53. The stock has a market cap of $9,500.88, a PE ratio of 15.85 and a beta of 0.82.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were issued a dividend of $0.5875 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $2.35 annualized dividend and a yield of 7.00%. Iron Mountain Incorporated (Delaware) REIT’s payout ratio is presently 110.33%.

In other Iron Mountain Incorporated (Delaware) REIT news, insider William L. Meaney sold 11,014 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $37.09, for a total transaction of $408,509.26. Following the sale, the insider now owns 111,592 shares in the company, valued at approximately $4,138,947.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William L. Meaney sold 24,137 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $32.08, for a total value of $774,314.96. Following the sale, the insider now owns 93,587 shares in the company, valued at approximately $3,002,270.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,029 shares of company stock worth $1,349,120. Corporate insiders own 1.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aureus Asset Management LLC raised its holdings in Iron Mountain Incorporated (Delaware) REIT by 23.1% during the 3rd quarter. Aureus Asset Management LLC now owns 8,843 shares of the financial services provider’s stock worth $344,000 after buying an additional 1,660 shares during the period. Norinchukin Bank The raised its holdings in Iron Mountain Incorporated (Delaware) REIT by 8.5% during the 4th quarter. Norinchukin Bank The now owns 21,342 shares of the financial services provider’s stock worth $805,000 after buying an additional 1,664 shares during the period. AMP Capital Investors Ltd raised its holdings in Iron Mountain Incorporated (Delaware) REIT by 3.2% during the 3rd quarter. AMP Capital Investors Ltd now owns 68,181 shares of the financial services provider’s stock worth $2,653,000 after buying an additional 2,100 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Iron Mountain Incorporated (Delaware) REIT by 10.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 22,632 shares of the financial services provider’s stock worth $854,000 after buying an additional 2,148 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in Iron Mountain Incorporated (Delaware) REIT by 5.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 43,983 shares of the financial services provider’s stock worth $1,711,000 after buying an additional 2,152 shares during the period. Hedge funds and other institutional investors own 89.21% of the company’s stock.

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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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