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Venture Visionary Partners LLC lessened its holdings in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 51.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,735 shares of the financial services provider’s stock after selling 17,699 shares during the period. Venture Visionary Partners LLC’s holdings in Iron Mountain were worth $1,857,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Iron Mountain in the second quarter valued at approximately $4,240,342,000. Cohen & Steers Inc. increased its holdings in shares of Iron Mountain by 20.0% in the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock valued at $1,568,110,000 after purchasing an additional 3,155,034 shares during the last quarter. Principal Financial Group Inc. lifted its position in Iron Mountain by 8.5% during the first quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock worth $466,382,000 after buying an additional 358,497 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Iron Mountain by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,552,286 shares of the financial services provider’s stock worth $464,931,000 after buying an additional 122,927 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in Iron Mountain during the second quarter worth $409,843,000. Institutional investors and hedge funds own 80.13% of the company’s stock.

Wall Street Analyst Weigh In Several analysts have issued reports on IRM shares. Wells Fargo & Company upped their target price on Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Barclays lifted their price target on Iron Mountain from $143.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, September 8th. Weiss Ratings cut shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 25th. Rothschild & Co Redburn began coverage on shares of Iron Mountain in a report on Monday, September 21st. They issued a “buy” rating and a $132.00 price objective for the company. Finally, Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.83.

View Our Latest Stock Report on IRM Iron Mountain Trading Down 0.8% Shares of NYSE IRM opened at $115.55 on Thursday. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The stock has a fifty day simple moving average of $118.22 and a 200-day simple moving average of $119.55. The stock has a market capitalization of $34.40 billion, a PE ratio of 82.53 and a beta of 1.17.

Iron Mountain (NYSE:IRM – Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the company earned $1.24 EPS. Iron Mountain’s revenue was up 18.5% on a year-over-year basis. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. On average, equities analysts predict that Iron Mountain Incorporated will post 5.42 earnings per share for the current year.

Iron Mountain Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th were given a dividend of $0.8640 per share. This represents a $3.46 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 15th. Iron Mountain’s dividend payout ratio is currently 247.14%.

Insider Transactions at Iron Mountain In related news, EVP Greg McIntosh sold 5,000 shares of Iron Mountain stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $110.72, for a total value of $553,600.00. Following the completion of the transaction, the executive vice president owned 70,634 shares in the company, valued at approximately $7,820,596.48. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Meaney sold 38,474 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $110.45, for a total transaction of $4,249,453.30. Following the sale, the chief executive officer directly owned 38,474 shares in the company, valued at approximately $4,249,453.30. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 137,422 shares of company stock valued at $15,881,099. 1.70% of the stock is currently owned by corporate insiders.

Iron Mountain Profile (Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global information management and data center services company. It helps organizations protect, manage and access physical and digital information, including business records, documents, backup media and other critical assets.

The company provides records storage and retrieval, secure shredding and destruction, information governance, digitization, document management and data migration services. Iron Mountain also operates data centers and offers colocation, hybrid cloud and related infrastructure services.

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3 REITs to Watch as AI Data Center Spending Surpasses Office ConstructionIron Mountain NYSE: IRM is positioning its records management customer base as a foundation for cross-selling into data centers, asset lifecycle management and digital solutions, CFO Barry Hytinen said during Goldman Sachs’ 2026 Communacopia + Technology Conference.

Hytinen said the company serves 245,000 business-to-business clients and counts more than 95% of the Fortune 1000 among its customers. Many of those companies initially standardized on Iron Mountain for records management, creating an opportunity to expand relationships into adjacent services.

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Cross-Selling Across Growth Businesses 4 High-Yield Real Estate Stocks to Buy as Investors Get DefensiveIn asset lifecycle management, or ALM, Iron Mountain operates both an enterprise business focused on corporate IT equipment and a hyperscale data center decommissioning business. Hytinen said corporate customers often use multiple smaller vendors for IT asset disposition, while Iron Mountain is building a global offering centered on chain of custody, consistent processes, data security and secure data wiping.

“We think there’s huge cross-sell opportunity there,” Hytinen said, describing the enterprise ALM model as one in which the company can initially win a portion of a customer’s business and expand into additional regions or business lines.

Picks & Shovels: Investing in the Physical Foundation of AIDigital solutions also build on the core records business, he said. Digitization projects can begin with physical materials Iron Mountain already stores for customers, then extend to the company’s DXP platform. Hytinen said digital solutions have become increasingly recurring and software-as-a-service oriented, with the business growing 20% in the most recent quarter.

Meanwhile, the data center business overlaps with hyperscale ALM through a shared customer base. Hytinen said the company aims to become a partner that can develop, build, operate and decommission data center infrastructure for hyperscale customers globally.

Growth Portfolio and Data Center Pipeline Hytinen said Iron Mountain expects its combined growth portfolio to expand by more than 20% over the long term. The company expects to generate a little more than $1 billion in data center revenue this year, and it has already signed contracts for facilities that would add roughly 40% to the business once built and energized, he said.

The company had leased 110 megawatts year to date through July and expects to exceed its initial target of 100 megawatts by a meaningful amount. Hytinen said Iron Mountain had 325 megawatts scheduled to energize over the next 18 to 24 months, all of which remained unleased at the time of the discussion.

Those planned facilities are primarily in Tier 1 markets including Virginia, Europe and India. Iron Mountain signed a 51-megawatt lease in Mumbai in July, Hytinen said, and has multiple prospective customers interested in each of its planned buildings.

The company generally begins construction after securing a pre-lease, with large hyperscale agreements typically running 10 to 15 years. Customers generally lease capacity 12 to 18 months before delivery, while Iron Mountain can typically build a data center in nine to 10 months in most geographies, according to Hytinen.

AI inference demand is becoming a greater part of the leasing pipeline, he said. Such deployments generally require higher density and greater liquid-cooling capability, increasing both construction costs per megawatt and lease pricing.

ALM Opportunity, Records Stability and Digital Contract Iron Mountain’s ALM business is projected to reach approximately $1 billion in revenue this year, compared with about $30 million in 2021, Hytinen said. He estimated the total addressable market at $35 billion, with roughly 75% tied to corporate customers. The enterprise ALM business is expected to be the larger long-term growth contributor, he said.

In hyperscale decommissioning, memory pricing and equipment mix can affect results. Hytinen said certain memory product categories had risen by as much as 30% in recent periods, while others had declined. He expects memory pricing to remain generally stable to slightly higher for the rest of the year from second-quarter levels.

The legacy physical records operation remains a cash-generative business, with organic physical-volume growth expected to remain modestly positive, in a range of roughly 20 to 40 basis points annually, alongside strong pricing. Hytinen said the company realized about 6% pricing benefit last year and this year, while markets such as India offer outsourcing opportunities.

Digital solutions now generate more than $600 million in annual revenue, Hytinen said, up from less than $200 million five or six years ago. Iron Mountain expects its Treasury Department contract to produce more than the approximately $45 million initially anticipated this year, following better-than-expected revenue in the first two quarters. The company expects at least $100 million of annual revenue from the contract in future years, though the ultimate amount will depend on outsourcing volumes and the government’s use of multiple vendors.

Margins, Cash Flow and Capital Allocation Hytinen acknowledged that ALM is lower margin than some other Iron Mountain operations, particularly in hyperscale decommissioning, where revenue-sharing arrangements can result in low-double-digit to high-teens margins. Enterprise ALM margins can range from the mid-20% area to 30%, he said.

Data centers, by comparison, generate EBITDA margins in the low-50% range, according to Hytinen. He said each of Iron Mountain’s businesses has opportunities to improve its own margin over the next several years, even as faster growth in ALM can weigh on consolidated margins.

Looking ahead, Hytinen said cash available for discretionary uses should increase by hundreds of millions of dollars annually over the next several years. The company targets leverage slightly below five times and intends to maintain a dividend payout ratio in the low-60% range of adjusted funds from operations. As AFFO grows, he said investors should expect the dividend to continue rising.

About Iron Mountain (NYSE:IRM)Iron Mountain Incorporated NYSE: IRM is a global information management and data storage company. Founded in 1951, the company helps organizations protect, manage and preserve physical and digital information throughout its lifecycle.

Its services include records storage, document management, secure shredding and destruction, information governance, data backup and recovery, and digital transformation. Iron Mountain also operates data centers that support colocation, cloud connectivity and other infrastructure needs for businesses and public-sector organizations.

The company serves customers across a range of industries, including financial services, healthcare, government, legal services and entertainment.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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California State Teachers Retirement System grew its holdings in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 12,879.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,885,358 shares of the financial services provider’s stock after acquiring an additional 54,462,487 shares during the period. California State Teachers Retirement System owned about 18.44% of Iron Mountain worth $6,932,570,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Ameritas Advisory Services LLC grew its position in shares of Iron Mountain by 245.7% during the second quarter. Ameritas Advisory Services LLC now owns 18,870 shares of the financial services provider’s stock worth $2,383,000 after purchasing an additional 13,412 shares in the last quarter. Wedmont Private Capital raised its stake in Iron Mountain by 18.0% during the 2nd quarter. Wedmont Private Capital now owns 4,288 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 654 shares during the period. HB Wealth Management LLC lifted its holdings in Iron Mountain by 1.1% in the 2nd quarter. HB Wealth Management LLC now owns 15,577 shares of the financial services provider’s stock worth $1,968,000 after purchasing an additional 171 shares in the last quarter. Saudi Central Bank boosted its stake in Iron Mountain by 90.8% in the 2nd quarter. Saudi Central Bank now owns 20,823 shares of the financial services provider’s stock worth $2,630,000 after purchasing an additional 9,912 shares during the period. Finally, Compass Financial Management LLC bought a new position in Iron Mountain in the 2nd quarter worth approximately $66,000. Institutional investors own 80.13% of the company’s stock.

Insider Activity at Iron Mountain In other Iron Mountain news, CEO William Meaney sold 38,474 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $114.08, for a total transaction of $4,389,113.92. Following the completion of the transaction, the chief executive officer owned 38,474 shares in the company, valued at $4,389,113.92. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Greg McIntosh sold 5,000 shares of Iron Mountain stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $115.60, for a total transaction of $578,000.00. Following the completion of the transaction, the executive vice president directly owned 75,634 shares of the company’s stock, valued at $8,743,290.40. The trade was a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 132,422 shares of company stock valued at $15,803,807 over the last 90 days. 1.70% of the stock is owned by corporate insiders.

Iron Mountain Trading Down 0.7% Shares of Iron Mountain stock opened at $115.25 on Thursday. The firm has a market cap of $34.31 billion, a PE ratio of 82.33 and a beta of 1.18. The stock has a 50 day moving average of $121.58 and a 200 day moving average of $118.81. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. Iron Mountain (NYSE:IRM – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. As a group, equities research analysts forecast that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be given a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s payout ratio is currently 247.14%.

Analyst Upgrades and Downgrades A number of equities research analysts have issued reports on IRM shares. Barclays increased their price objective on shares of Iron Mountain from $143.00 to $144.00 and gave the company an “overweight” rating in a report on Tuesday. Truist Financial upped their target price on shares of Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Wall Street Zen cut shares of Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Wells Fargo & Company lifted their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Weiss Ratings cut shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 25th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Iron Mountain currently has an average rating of “Moderate Buy” and a consensus target price of $137.83.

Check Out Our Latest Research Report on Iron Mountain

Iron Mountain Profile (Free Report)

Iron Mountain Incorporated (NYSE: IRM) is a global information management and data storage company. Founded in 1951, the company helps organizations protect, manage and preserve physical and digital information throughout its lifecycle.

Its services include records storage, document management, secure shredding and destruction, information governance, data backup and recovery, and digital transformation. Iron Mountain also operates data centers that support colocation, cloud connectivity and other infrastructure needs for businesses and public-sector organizations.

The company serves customers across a range of industries, including financial services, healthcare, government, legal services and entertainment.

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It has been about a month since the last earnings report for Iron Mountain (IRM - Free Report) . Shares have lost about 5.7% in that time frame, underperforming the S&P 500.

But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Iron Mountain due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for Iron Mountain Incorporated before we dive into how investors and analysts have reacted as of late.

Iron Mountain’s Q2 AFFO Beats Estimates on Data Center and ALM Growth, '26 View UpIron Mountain reported second-quarter 2026 AFFO of $1.44 per share, up 16.1% year over year. The figure surpassed the Zacks Consensus Estimate by 2.9%.

Revenues of $2.03 billion increased 18.5% and beat the consensus mark of $1.97 billion. The upside reflected broad-based strength, with data center revenues advancing 38.8% and asset lifecycle management benefiting from robust enterprise and decommissioning activity.

Iron Mountain’s Revenue Mix Supports Broad GrowthStorage rental revenues rose 12.3% year over year to $1.13 billion. Service revenues increased 27.4% to $894.5 million, underscoring the growing contribution from faster-expanding offerings outside the traditional records storage business.

Organic revenues jumped 16.8% on a constant-currency basis, excluding acquisitions and divestitures. Organic storage rental growth was 11.3%, while organic service growth reached 24.8%, showing that internal execution rather than deal activity drove most of the quarter’s expansion.

Iron Mountain's RIM Business Stays ResilientGlobal Records and Information Management revenues increased 8.3% to $1.43 billion. Storage rental revenues in the segment rose 6.6%, while service revenues advanced 10.9%, supported by revenue management, digital solutions and continued customer activity.

The segment generated adjusted EBITDA of $620.8 million compared with $586.3 million a year earlier. Its adjusted EBITDA margin contracted 100 basis points to 43.3%, as faster service growth carried a different margin profile than the highly recurring storage business.

Global storage volume reached a record 747.9 million cubic feet, up from 735.8 million a year ago. Storage facility utilization improved to 81.6% from 80.6%, while the records management retention rate increased 40 basis points to 93.4%.

Iron Mountain's Data Center Momentum StrengthensGlobal Data Center revenues climbed to $262.9 million from $189.4 million. Storage rental revenues grew 37.5% and the segment’s adjusted EBITDA increased to $137.3 million, with margin expanding 140 basis points to 52.2%.

Iron Mountain signed 13 megawatts of new and expansion leases during the second quarter. Leasing reached 110 megawatts through July after an additional 75 megawatts were signed following quarter-end. The company also cited a backlog supporting $370 million of revenue growth beyond 2026 before including the July leasing.

The operating portfolio had 528.5 leasable megawatts and was 97.1% leased. Management expects roughly 325 megawatts of available-to-lease capacity to become energized over the next 24 months as it works toward total developable capacity of approximately 1.4 gigawatts.

Iron Mountain's ALM and Digital Engines ExpandCorporate and Other revenues surged 67.4% to $332.6 million. Service revenues rose 73.7%, reflecting strong asset lifecycle management performance across enterprise solutions and data center decommissioning.

ALM revenues increased 88% on a reported basis and 82% organically. Management also highlighted record digital revenues and growing traction for Insight DXP, its artificial intelligence-powered platform, including a multi-year managed-services agreement spanning 45 countries.

Iron Mountain's Costs and Balance Sheet Remain ManageableTotal operating expenses increased 14% to $1.66 billion, slower than revenue growth. Operating income advanced 43.7% to $373.5 million, though adjusted EBITDA margin declined 90 basis points to 35.8%, partly reflecting the mix shift toward rapidly growing service businesses.

Net lease-adjusted leverage remained at 4.8 times, within management’s target range of 4.5-5.5 times. Cash and cash equivalents were $204.8 million at quarter-end, while net debt totaled about $17.28 billion.

Iron Mountain Raises 2026 OutlookIron Mountain raised its full-year AFFO per share forecast to $5.87-$5.93 from the earlier guided range of $5.79-$5.86. The midpoint implies approximately 14% growth, supported by continued momentum across records management, data centers, digital solutions and ALM.

How Have Estimates Been Moving Since Then?Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

VGM ScoresAt this time, Iron Mountain has a nice Growth Score of B, a score with the same score on the momentum front. However, the stock was allocated a score of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook Iron Mountain has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.

Performance of an Industry PlayerIron Mountain is part of the Zacks Business - Information Services industry. Over the past month, TransUnion (TRU - Free Report) , a stock from the same industry, has gained 7.2%. The company reported its results for the quarter ended June 2026 more than a month ago.

TransUnion reported revenues of $1.31 billion in the last reported quarter, representing a year-over-year change of +14.9%. EPS of $1.23 for the same period compares with $1.08 a year ago.

TransUnion is expected to post earnings of $1.21 per share for the current quarter, representing a year-over-year change of +10%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.

The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for TransUnion. Also, the stock has a VGM Score of B.

Canada Pension Plan Investment Board bought a new position in Iron Mountain Incorporated (NYSE:IRM – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 29,362 shares of the financial services provider’s stock, valued at approximately $3,709,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Iron Mountain during the second quarter worth about $4,240,342,000. Norges Bank purchased a new stake in Iron Mountain in the 4th quarter valued at about $368,890,000. Legal & General Group Plc bought a new position in shares of Iron Mountain during the 2nd quarter worth approximately $409,843,000. Cohen & Steers Inc. lifted its position in shares of Iron Mountain by 20.0% during the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after buying an additional 3,155,034 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Iron Mountain in the 2nd quarter worth approximately $385,129,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Analyst Upgrades and Downgrades A number of brokerages recently commented on IRM. Wells Fargo & Company increased their price target on Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Barclays raised their target price on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Truist Financial lifted their target price on Iron Mountain from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings downgraded shares of Iron Mountain from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $137.67.

View Our Latest Analysis on IRM Insider Activity In related news, EVP Mark Kidd sold 6,000 shares of Iron Mountain stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total value of $736,200.00. Following the completion of the sale, the executive vice president owned 101,507 shares of the company’s stock, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the sale, the chief executive officer owned 38,474 shares in the company, valued at $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 82,948 shares of company stock valued at $10,143,093. 1.70% of the stock is currently owned by insiders.

Iron Mountain Stock Up 0.1% Shares of IRM stock opened at $117.55 on Monday. The firm has a market cap of $34.99 billion, a P/E ratio of 83.96 and a beta of 1.20. The company has a 50 day moving average of $123.89 and a 200-day moving average of $118.28. Iron Mountain Incorporated has a 12-month low of $77.77 and a 12-month high of $134.68.

Iron Mountain (NYSE:IRM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.54 by $0.06. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%.The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. Iron Mountain’s revenue for the quarter was up 18.5% on a year-over-year basis. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. As a group, equities analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current year.

Iron Mountain Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Iron Mountain’s dividend payout ratio is currently 247.14%.

About Iron Mountain (Free Report)

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.

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Advisors Capital Management LLC acquired a new position in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,925 shares of the financial services provider’s stock, valued at approximately $1,254,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IRM. Oregon Public Employees Retirement Fund lifted its holdings in Iron Mountain by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,889 shares of the financial services provider’s stock valued at $3,461,000 after purchasing an additional 100 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Iron Mountain by 15.4% in the fourth quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider’s stock valued at $65,000 after buying an additional 104 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Iron Mountain by 2.9% in the first quarter. Meeder Advisory Services Inc. now owns 3,741 shares of the financial services provider’s stock valued at $382,000 after buying an additional 107 shares during the last quarter. Corrado Advisors LLC lifted its stake in shares of Iron Mountain by 0.6% during the fourth quarter. Corrado Advisors LLC now owns 19,856 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 110 shares during the period. Finally, Essential Partners LLC boosted its position in Iron Mountain by 24.4% during the first quarter. Essential Partners LLC now owns 561 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Buying and Selling at Iron Mountain In related news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $122.70, for a total transaction of $736,200.00. Following the completion of the sale, the executive vice president directly owned 101,507 shares of the company’s stock, valued at approximately $12,454,908.90. This represents a 5.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $121.67, for a total value of $4,681,131.58. Following the completion of the sale, the chief executive officer owned 38,474 shares of the company’s stock, valued at approximately $4,681,131.58. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 127,422 shares of company stock worth $15,810,652 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Iron Mountain Price Performance NYSE IRM opened at $122.19 on Friday. Iron Mountain Incorporated has a 1-year low of $77.77 and a 1-year high of $134.68. The firm has a market capitalization of $36.38 billion, a P/E ratio of 87.28 and a beta of 1.20. The business’s 50-day simple moving average is $124.52 and its 200-day simple moving average is $117.08. Iron Mountain (NYSE:IRM – Get Free Report) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The company’s revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Iron Mountain has set its Q3 2026 guidance at 1.470-1.470 EPS and its FY 2026 guidance at 5.870-5.930 EPS. On average, equities research analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

Iron Mountain Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Tuesday, September 15th will be issued a dividend of $0.864 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.46 annualized dividend and a dividend yield of 2.8%. Iron Mountain’s payout ratio is presently 247.14%.

Analyst Upgrades and Downgrades Several equities analysts recently commented on IRM shares. Weiss Ratings upgraded Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. raised their price target on Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Barclays upped their price objective on shares of Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Truist Financial set a $140.00 price objective on shares of Iron Mountain in a report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.17.

Check Out Our Latest Research Report on IRM

Iron Mountain Company Profile (Free Report)

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.

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3 REITs to Watch as AI Data Center Spending Surpasses Office ConstructionIron Mountain NYSE: IRM reported record second-quarter results for 2026, with revenue rising 19% year over year to $2.03 billion and adjusted EBITDA increasing 16% to $727 million, as growth in data centers, asset lifecycle management and digital solutions outpaced the company’s expectations.

President and Chief Executive Officer Will Meaney said organic revenue grew 17% during the quarter, while adjusted funds from operations, or AFFO, increased 17%. The company’s data center, asset lifecycle management, or ALM, and digital businesses collectively grew by more than 50%, contributing 35% of second-quarter revenue, up 750 basis points from a year earlier.

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4 High-Yield Real Estate Stocks to Buy as Investors Get Defensive“Our team delivered another outstanding performance with record-breaking second quarter results exceeding our expectations across all metrics,” Meaney said.

Data Center Leasing and Capacity Iron Mountain’s data center business generated $263 million in second-quarter revenue, up $73 million, or 39%, from the prior year. The segment’s adjusted EBITDA rose $41 million to $137 million, and its adjusted EBITDA margin increased 140 basis points year over year to 52.2%.

Picks & Shovels: Investing in the Physical Foundation of AIThe company signed 13 megawatts of new data center leases in the second quarter, including a 10-megawatt lease in Amsterdam. In July, it signed an additional 75 megawatts of leases, bringing year-to-date leasing to 110 megawatts. July activity included a 25-megawatt lease that fully leased Iron Mountain’s London Three asset and a 51-megawatt, 10-year agreement with a major global hyperscaler in Mumbai.

Meaney said the company has about 325 megawatts of capacity expected to be energized during the next 24 months, following leasing activity in the first half and July. He said demand is strong across the company’s pipeline, including at its Richmond campus, in Europe and in India.

Management said it expects to “meaningfully exceed” its original 100-megawatt full-year leasing target, though executives noted that large hyperscale leases can be uneven from quarter to quarter. Chief Financial Officer Barry Hytinen said the company plans to emphasize its energization schedule rather than issue annual leasing guidance, describing the available capacity as located in attractive markets with robust customer pipelines.

ALM Growth Drives Revenue Upside ALM revenue rose 88% year over year to $288 million, including 82% organic growth. Hytinen said the segment exceeded the company’s prior projection by more than $45 million, supported by both enterprise ALM services and hyperscale data center decommissioning.

Enterprise ALM revenue grew more than 60% organically, aided by expansion with existing customers and new contract wins. Data center decommissioning revenue increased more than 100% from the prior year, partially reflecting about $30 million of timing benefits from large hyperscaler projects that were accelerated into the second quarter.

Meaney characterized ALM as a multibillion-dollar opportunity, citing a $35 billion addressable market. The company said the enterprise channel accounts for roughly 75% of that market and offers recurring activity and cross-selling opportunities across Iron Mountain’s customer base of more than 240,000 customers.

Iron Mountain raised its full-year ALM revenue outlook and now expects the business to approach $1 billion in 2026 revenue. Hytinen said the enterprise ALM business is expected to grow more than 50% this year and generate slightly more than $600 million of full-year revenue.

The company also recently acquired Group ATF, an ALM provider in France and Belgium. Hytinen said the transaction closed around Aug. 1 and involves annual revenue in the high teens of millions. Iron Mountain expects approximately $7 million of revenue contribution during the second half, with the acquired business carrying an EBITDA margin in the low 20% range before expected cost and revenue synergies.

Records and Digital Businesses Continue to Expand Global records and information management revenue reached a quarterly record of $1.4 billion, up 8% on a reported basis and 7% organically. Storage revenue rose 5% organically, while services revenue increased 9% organically.

Iron Mountain’s digital business grew more than 25%, according to Hytinen. Meaney said digital solutions posted record quarterly revenue and that more than 45% of digital revenue is now recurring. He also cited traction for the company’s AI-powered InSight DXP platform, including new deployments with financial services and fintech customers in the United Kingdom and Australia.

Hytinen said physical storage volumes continued to increase, with the company storing more physical volume for customers than at any prior point. He expects physical volumes to remain modestly positive, supported by continued outsourcing in markets including India.

The company also said its Internal Revenue Service digital-services contract ramped faster than expected. Hytinen said the contract generated more than $15 million of second-quarter revenue, compared with about $9 million in the first quarter, and that Iron Mountain continues to expect annual revenue from the program to exceed $100 million in 2027.

Raised 2026 Outlook Iron Mountain raised its full-year financial outlook following the second-quarter performance. The company now expects:

Total revenue of $7.94 billion to $8.01 billion, representing 16% growth at the midpoint. Adjusted EBITDA of $2.945 billion to $2.975 billion, representing 15% growth at the midpoint. AFFO of $1.76 billion to $1.78 billion, or $5.87 to $5.93 per share. For the third quarter, the company expects approximately $1.98 billion in revenue, $745 million in adjusted EBITDA and $440 million in AFFO, or $1.47 per share.

Iron Mountain generated $888 million in year-to-date operating cash flow, up $315 million from the prior-year period. The company invested $553 million in growth capital expenditures and $38 million in recurring capital expenditures during the second quarter. It ended the period with net lease-adjusted leverage of 4.8 times and declared a quarterly dividend of $0.864 per share, payable in early October.

About Iron Mountain (NYSE:IRM)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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways Iron Mountain's Q2 results are expected to show growth in revenues and AFFO per share.Iron Mountain's data center expansion and strong connectivity demand may boost leasing activity.Q2 revenues are projected to rise 14.9%, while currency moves and interest costs may weigh on results. Iron Mountain Incorporated (IRM - Free Report) is slated to release second-quarter 2026 results on Aug. 5, before the opening bell. The quarterly results are likely to display year-over-year growth in revenues and adjusted funds from operations (AFFO) per share.

In the last reported quarter, this real estate investment trust (REIT) delivered an AFFO per share surprise of 2.88%. The quarter reflected broad-based momentum, led by strong expansion in growth businesses and solid pricing in the core storage franchise.

Over the trailing four quarters, Iron Mountain’s AFFO per share surpassed the Zacks Consensus Estimate on all occasions, the average beat being 3.25%. The graph below depicts this surprising history:

Factors to Consider Ahead of IRM’s Q2 ResultsIn the second quarter, Iron Mountain’s earnings are likely to have been supported by stable recurring revenues from its core storage and records management businesses, which are expected to have driven overall revenue growth during the period.

Alongside its storage operations, Iron Mountain continues to strengthen performance through the expansion of its faster-growing segments, particularly data centers. Strong demand for connectivity, interconnection and colocation space is likely to have boosted leasing activity, supporting growth in the company’s global data center segment during the second quarter.

Foreign currency movements, along with higher interest expenses, are expected to have acted as headwinds to the quarterly performance.

Projections for IRMThe Zacks Consensus Estimate for storage rental revenues is pegged at $1.13 billion, up from $1.01 billion reported in the year-ago period. The consensus estimate for service revenues is pinned at $840.5 million, up from $702 million reported in the prior-year quarter. The consensus estimate for its global data center segment revenues is pegged at $239.5 million, up from $189.4 million reported in the year-ago period.

The consensus estimate for quarterly total revenues is pegged at $1.97 billion, indicating an increase of 14.9% from the prior-year quarter’s reported figure.

The company’s activities in the to-be-reported quarter were inadequate to garner analysts’ confidence. The Zacks Consensus Estimate for the quarterly AFFO per share has remained unchanged at $1.40 over the past three months. The figure implies significant growth from the year-ago quarter’s reported number.

Here’s What Our Quantitative Model Predicts for IRMOur proven model does not conclusively predict a surprise in terms of AFFO per share for Iron Mountain this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an FFO beat, which is not the case here.

Iron Mountain has an Earnings ESP of 0.00% and a Zacks Rank of 3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks That Warrant a LookHere are two stocks from the broader REIT industry — Host Hotels & Resorts (HST - Free Report) and Lamar Advertising (LAMR - Free Report) — that you may want to consider, as our model shows that these have the right combination of elements to report a surprise this quarter.

HST, scheduled to report quarterly numbers on Aug. 5, has an Earnings ESP of +1.48% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Lamar Advertising is slated to report quarterly numbers on Aug. 6. LAMR has an Earnings ESP of +0.22% and a Zacks Rank of 3 at present.

Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.

Key Takeaways Iron Mountain's recurring storage revenues and pricing supported strong first-quarter 2026 growth. IRM's data center revenues jumped 47.1% as leasing stayed strong and utilization remained high.IRM grew digital and asset lifecycle businesses over 50% year over year, boosting service revenues. Iron Mountain Incorporated (IRM - Free Report) shares have rallied 30.2% in the past three months compared with the industry’s growth of 10.2%.

Iron Mountain’s recurring storage rental revenues remain resilient through pricing and strong retention, while rapid data center expansion, robust leasing demand, and growing digital and asset lifecycle management businesses continue to drive growth and diversify revenues beyond traditional records storage.

Analysts seem bullish on this Zacks Rank #3 (Hold) stock. The Zacks Consensus Estimate for its 2026 AFFO per share has been revised northward by 13 cents to $5.85 over the past two months.

Image Source: Zacks Investment Research

Factors Behind IRM Stock’s Price SurgeIron Mountain continues to rely on highly recurring storage rental revenues, supported by pricing, revenue management and strong customer retention. In the first quarter of 2026, consolidated storage rental revenues increased 15.4% year over year, while Global RIM storage rental grew 8.7%. These results indicate that pricing and revenue management continue to help offset gradual declines in physical storage volumes. Management also highlighted that the physical records storage business delivered its best quarterly growth in years, helping fund investment in faster-growing offerings.

The Global Data Center business remains Iron Mountain's primary growth engine, benefiting from sustained enterprise and hyperscale demand for secure, interconnected capacity. In the first quarter of 2026, data center revenues increased 47.1% year over year to $254.7 million, driven primarily by 46% increase in storage rental revenues, while adjusted EBITDA margin remained above 50% at 52.1%. The operating portfolio reached 507.2 megawatt (MW) from 424.2 MW a year ago and was 97.2% leased, reflecting strong utilization. Leasing activity remained healthy, with 21,849 kilowatt (KW) of new and expansion leases signed during the quarter.

Management reported 32 MW of data center leasing from the beginning of the year through April 2026, suggesting demand carried into the early second quarter. Churn remained low at 0.4%, while cash mark-to-market was 12%, pointing to pricing power on renewals. The development pipeline also expanded, with 181.5 MW under construction and 684.2 MW held for future development, bringing total potential data center capacity to 1.37 gigawatt (GW). This robust pipeline supports the company’s strategy to build and energize capacity ahead of demand and sustain high growth rates as more sites come online.

Iron Mountain is broadening beyond traditional records storage through digital and asset lifecycle management capabilities that management is increasingly cross-selling across its large customer base. Management said that the data center, digital and ALM businesses grew more than 50% year over year in first-quarter 2026, while consolidated service revenues rose 30.6% year over year to $841 million.

Within Global RIM, service revenues increased 16.5% year over year, indicating healthy demand for higher-value services alongside storage. Recent acquisitions in IT asset disposition and logistics capabilities extend the lifecycle offering set and deepen customer relationships, which can improve wallet share over time, even as paper-based workflows evolve. The company’s global footprint and broad customer mix also help scale these newer offerings across regions and industries.

Key Concerns for Iron MountainCompetition from other industry players is likely to lead to aggressive pricing pressure and hurt Iron Mountain’s prospects. High interest expenses and adverse foreign currency movements remain a concern.

Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Lamar Advertising (LAMR - Free Report) and Vornado Realty Trust (VNO - Free Report) , each carrying a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for LAMR’s 2026 FFO per share is pegged at $8.81, which indicates year-over-year growth of 6.66%.

The Zacks Consensus Estimate for VNO’s full-year FFO per share is pinned at $2.34, which calls for an increase of 0.86% from the year-ago period.

Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.