Iron Mountain Incorporated (NYSE:IRM) Announces $0.72 Quarterly Dividend

Iron Mountain Incorporated (NYSE:IRM) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Investors of record on Monday, December 16th will be given a dividend of 0.715 per share by the financial services provider on Tuesday, January 7th. This represents a $2.86 annualized dividend and a yield of 2.49%. The ex-dividend date is Monday, December 16th.

Iron Mountain has increased its dividend payment by an average of 0.8% per year over the last three years. Iron Mountain has a dividend payout ratio of 134.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Iron Mountain to earn $4.57 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 62.6%.

Iron Mountain Stock Performance

Iron Mountain stock traded up $0.41 during trading hours on Thursday, hitting $114.85. The stock had a trading volume of 240,179 shares, compared to its average volume of 1,601,403. Iron Mountain has a fifty-two week low of $58.55 and a fifty-two week high of $130.24. The company has a market cap of $33.69 billion, a PE ratio of 146.72, a price-to-earnings-growth ratio of 7.33 and a beta of 0.99. The company has a 50-day moving average of $118.98 and a two-hundred day moving average of $101.17. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 674.63.

Insider Buying and Selling at Iron Mountain

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the sale, the chief executive officer now owns 295,650 shares of the company’s stock, valued at $34,697,484. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $117.36, for a total value of $1,863,090.00. Following the completion of the transaction, the chief executive officer now owns 295,650 shares in the company, valued at $34,697,484. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO John Tomovcsik sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $110.00, for a total value of $110,000.00. Following the completion of the transaction, the chief operating officer now owns 14,000 shares in the company, valued at approximately $1,540,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,637 shares of company stock worth $3,210,575. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on IRM. Stifel Nicolaus raised their target price on Iron Mountain from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on Iron Mountain from $106.00 to $120.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their target price on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Barclays boosted their price target on Iron Mountain from $91.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on Iron Mountain from $82.00 to $121.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.50.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers’ work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.