Zacks Investment Research lowered shares of Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) from a strong-buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “Iron Mountain is a leading records and information management services company. Iron Mountain’s diversified revenue base, a strong product portfolio, an aggressive acquisition strategy and a promising international business are key growth catalysts. Moreover, the company’s entry into the data center market could be another positive. Over the past one year, shares have vastly outperformed the broader market and estimates have remained stable ahead of the company's fourth quarter earnings 2016 release. However, its highly leveraged balance sheet may adversely affect its top line in the long run. Besides, the company needs to be wary of the highly fragmented nature of its industry and stiff competition that can curb its progress.”

Shares of Iron Mountain Incorporated (NYSE:IRM) opened at 37.00 on Tuesday. The company has a market capitalization of $9.75 billion, a PE ratio of 140.15 and a beta of 0.95. Iron Mountain Incorporated has a 52-week low of $28.57 and a 52-week high of $41.50. The stock has a 50 day moving average price of $35.14 and a 200 day moving average price of $35.14.

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The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 15th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.95%. Iron Mountain Incorporated (Delaware) REIT’s payout ratio is 733.33%.

In other Iron Mountain Incorporated (Delaware) REIT news, EVP Anastasios Tsolakis sold 1,482 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $37.50, for a total value of $55,575.00. Following the sale, the executive vice president now owns 61,389 shares in the company, valued at approximately $2,302,087.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Neil Chatfield sold 954 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $32.74, for a total value of $31,233.96. The disclosure for this sale can be found here. Insiders sold a total of 14,303 shares of company stock worth $505,314 in the last 90 days. Company insiders own 1.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in IRM. Macquarie Group Ltd. boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 10,048.4% in the second quarter. Macquarie Group Ltd. now owns 397,208 shares of the company’s stock valued at $15,821,000 after buying an additional 393,294 shares during the last quarter. First Trust Advisors LP boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 64.5% in the third quarter. First Trust Advisors LP now owns 292,758 shares of the company’s stock valued at $10,987,000 after buying an additional 114,784 shares during the last quarter. Confluence Investment Management LLC boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 3.7% in the third quarter. Confluence Investment Management LLC now owns 1,655,817 shares of the company’s stock valued at $62,143,000 after buying an additional 58,535 shares during the last quarter. DIAM Co. Ltd. boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 18.2% in the second quarter. DIAM Co. Ltd. now owns 537,808 shares of the company’s stock valued at $21,271,000 after buying an additional 82,960 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in Iron Mountain Incorporated (Delaware) REIT by 1.0% in the third quarter. BlackRock Investment Management LLC now owns 523,311 shares of the company’s stock valued at $19,640,000 after buying an additional 4,988 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Iron Mountain Incorporated (Delaware) REIT

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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