Cbre Investment Management Listed Real Assets LLC Acquires 196,369 Shares of Iron Mountain Incorporated $IRM

Cbre Investment Management Listed Real Assets LLC lifted its holdings in Iron Mountain Incorporated (NYSE:IRM) by 18.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,269,467 shares of the financial services provider’s stock after purchasing an additional 196,369 shares during the period. Iron Mountain comprises 1.8% of Cbre Investment Management Listed Real Assets LLC’s holdings, making the stock its 17th biggest position. Cbre Investment Management Listed Real Assets LLC’s holdings in Iron Mountain were worth $129,409,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IRM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Iron Mountain by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,904 shares of the financial services provider’s stock valued at $2,573,000 after acquiring an additional 1,286 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Iron Mountain by 10.3% in the 1st quarter. Empowered Funds LLC now owns 5,728 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 537 shares during the period. Woodline Partners LP increased its holdings in shares of Iron Mountain by 41.0% in the 1st quarter. Woodline Partners LP now owns 24,742 shares of the financial services provider’s stock valued at $2,129,000 after acquiring an additional 7,193 shares during the period. Savant Capital LLC raised its position in shares of Iron Mountain by 2.4% in the 2nd quarter. Savant Capital LLC now owns 10,333 shares of the financial services provider’s stock worth $1,060,000 after acquiring an additional 238 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of Iron Mountain during the 2nd quarter worth $476,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Iron Mountain Price Performance

Iron Mountain stock opened at $107.55 on Thursday. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $115.24. The business has a fifty day moving average price of $98.29 and a 200-day moving average price of $95.67. The stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 224.06 and a beta of 1.13.

Iron Mountain Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Monday, March 16th will be paid a dividend of $0.864 per share. The ex-dividend date is Monday, March 16th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 3.2%. Iron Mountain’s payout ratio is presently 718.75%.

Insider Activity

In related news, CEO William L. Meaney sold 137,133 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $109.39, for a total value of $15,000,978.87. Following the completion of the transaction, the chief executive officer directly owned 295,975 shares of the company’s stock, valued at $32,376,705.25. This trade represents a 31.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jennifer Allerton sold 7,000 shares of Iron Mountain stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $108.88, for a total transaction of $762,160.00. Following the completion of the sale, the director owned 11,541 shares of the company’s stock, valued at $1,256,584.08. This trade represents a 37.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 391,931 shares of company stock worth $41,180,243 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IRM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Thursday, January 22nd. Loop Capital set a $130.00 price target on shares of Iron Mountain in a research report on Wednesday, March 4th. Finally, Barclays raised their price target on shares of Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus target price of $116.60.

Iron Mountain Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.