Iron Mountain Incorporated (IRM) To Go Ex-Dividend on March 17th

Iron Mountain Incorporated (NYSE:IRM) announced a quarterly dividend on Thursday, February 13th,RTT News reports. Stockholders of record on Monday, March 17th will be paid a dividend of 0.785 per share by the financial services provider on Friday, April 4th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Iron Mountain’s previous quarterly dividend of $0.72.

Iron Mountain has raised its dividend by an average of 1.7% per year over the last three years. Iron Mountain has a dividend payout ratio of 126.5% 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 research analysts expect Iron Mountain to earn $4.55 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 62.9%.

Iron Mountain Stock Performance

Shares of Iron Mountain stock opened at $95.34 on Friday. The firm has a market cap of $27.98 billion, a PE ratio of 264.85, a price-to-earnings-growth ratio of 5.84 and a beta of 1.01. The firm’s 50-day simple moving average is $105.45 and its 200-day simple moving average is $112.70. Iron Mountain has a 1 year low of $67.09 and a 1 year high of $130.24.

Insiders Place Their Bets

In other news, EVP Mithu Bhargava sold 8,263 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $104.49, for a total value of $863,400.87. Following the completion of the transaction, the executive vice president now directly owns 13,054 shares in the company, valued at $1,364,012.46. This trade represents a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William L. Meaney sold 15,872 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $112.99, for a total transaction of $1,793,377.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,391 shares of company stock worth $16,805,912. Insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Barclays dropped their price objective on shares of Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada increased their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Iron Mountain presently has an average rating of “Moderate Buy” and a consensus price target of $129.17.

Iron Mountain Company Profile

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.