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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.

Iron Mountain Expands Footprint in the Middle East with Social Development Bank Partnership LEAP 2026 – Iron Mountain (NYSE: IRM), a global leader in information management services, today announced an agreement with the Social Development Bank in Saudi Arabia to support the bank’s ongoing digital transformation by modernizing document-intensive financing processes through AI-powered intelligent document processing. The bank will leverage Iron Mountain InSight® DXP’s intelligent document processing capabilities across its small and medium enterprise (SME) loan operations.

The initiative illustrates how Iron Mountain helps organizations transition from traditional document management to AI-enabled business processes. InSight DXP converts complex, unstructured content into governed, actionable information, improving operational efficiency and enabling better-informed decisions.

“At Social Development Bank, our approach to digital transformation goes beyond automating existing processes. We’re focused on leveraging advanced technologies and artificial intelligence to enhance operational efficiency, strengthen data quality and governance, and continuously improve the experience of our beneficiaries. This collaboration with Iron Mountain supports that direction by establishing a more intelligent, scalable foundation for our financing operations,” said Abdulrahman Bin Fehaid, Executive Director of Cybersecurity and Business Continuity, overseeing Documents and Archives Management, Social Development Bank.

Insight DXP will automatically classify documents, extract relevant information, validate it against lending business rules, and identify missing or inconsistent documentation. The solution will also include human review, focusing primarily on exceptions and cases requiring further attention or judgment.

By reducing manual processing, the initiative will help Social Development Bank enhance the efficiency and consistency of its document workflows, improve data quality, and support faster processing to deliver a more seamless financing experience for beneficiaries. Initial implementation will focus on select SME lending processes to establish a scalable, AI-ready foundation to support additional products, document types, and workflows. Project implementation is underway with go-live targeted in Q3 2026.

“Across Saudi Arabia and the wider Middle East region, organizations are moving beyond basic digitization to drive measurable business outcomes. Iron Mountain’s collaboration with the Social Development Bank demonstrates how intelligent information management can support national digital transformation priorities, strengthen operational resilience, and create a foundation for future growth,” said Wojciech Bajda, Vice President, MENAT, Iron Mountain.

This initiative is part of Iron Mountain’s accelerated regional expansion, including a recent strategic partnership with stc Bahrain to drive enterprise digital transformation in Bahrain.

Learn more about Iron Mountain InSight® DXP.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) partners with more than 240,000 customers across 61 countries, including approximately 95% of the Fortune 1000. We serve as the trusted guardians of what matters most, helping unlock what’s possible. By connecting physical, digital, and intelligent workflows, our lifecycle solutions help organizations realize enterprise value at scale. From complex challenges across information management and digital transformation to data security, data centers, and asset lifecycle management, we empower organizations to navigate an ever-changing landscape to prepare for tomorrow’s possibilities. Our longstanding commitment to safety, security, sustainability, and continuous innovation defines everything we do.

To learn more about Iron Mountain, please visit www.IronMountain.com.

About the Social Development Bank

The Bank considers social development to be an important pillar of development in empowering citizens through the provision of accessible financing products and programmes to contribute effectively and influentially.

Building, development and boosting the national economy, and since its inception, the Bank for Social Development has witnessed fundamental developments that it has developed today as one of the most important development institutions.

Which plays an active and influential role in the process of social and economic development within the components of the dear country, in the belief of rational leadership in the importance of the roles that have been played by

Provides it in the area of affordable development finance programmes for the children of this country, on the one hand, and supports small and emerging enterprises as an important contributor to building the economy of the Kingdom on the other.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260901766297/en/

Disclosures I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.

Click for the complete disclosure

PORTSMOUTH, N.H.--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM), a global leader in information management services, announced today that it will present at two upcoming investor conferences: Goldman Sachs Communacopia + Technology Conference 2026 Date: Tuesday, September 8, 2026 Time: 11:30 am PT (2:30 pm ET) Presenter: Barry A. Hytinen, Executive Vice President and Chief Financial Officer RBC Capital Markets 2026 Global Communications Infrastructure Conference Date: Tuesday, Septemb.

Freestone Grove Partners LP purchased a new position in Iron Mountain Incorporated (NYSE:IRM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,753 shares of the financial services provider’s stock, valued at approximately $600,000.

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

Insiders Place Their Bets In other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $122.70, for a total transaction of $736,200.00. Following the completion of the transaction, the executive vice president owned 101,507 shares in the company, valued at approximately $12,454,908.90. This represents a 5.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William L. Meaney sold 38,474 shares of Iron Mountain 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 directly owned 38,474 shares in the company, valued at $4,681,131.58. This represents a 50.00% decrease in their position. 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 ninety days, insiders sold 82,948 shares of company stock valued at $10,143,093. Company insiders own 1.70% of the company’s stock.

Iron Mountain Stock Performance NYSE IRM opened at $117.55 on Monday. The stock has a market cap of $34.99 billion, a price-to-earnings ratio of 83.96 and a beta of 1.20. The business has a 50 day simple moving average of $123.89 and a 200 day simple moving average of $118.28. Iron Mountain Incorporated has a 52-week low of $77.77 and a 52-week high of $134.68. Iron Mountain (NYSE:IRM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. 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 previous year, the firm posted $1.24 earnings per share. The business’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, analysts predict that Iron Mountain Incorporated will post 5.42 EPS for the current year.

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

Analysts Set New Price Targets Several equities research analysts have commented on the stock. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. 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. Wells Fargo & Company upped their price objective on shares of Iron Mountain from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Barclays lifted their target price on Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.67.

Read Our Latest Analysis on Iron Mountain

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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Callan Family Office LLC purchased a new position in Iron Mountain Incorporated (NYSE:IRM – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,041 shares of the financial services provider’s stock, valued at approximately $1,142,000.

A number of other hedge funds also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its position in Iron Mountain by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 33,889 shares of the financial services provider’s stock worth $3,461,000 after acquiring an additional 100 shares in the last quarter. Rothschild Investment LLC boosted its holdings in shares of Iron Mountain by 15.4% in the 4th quarter. Rothschild Investment LLC now owns 780 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 104 shares during the period. Meeder Advisory Services Inc. increased its position in shares of Iron Mountain by 2.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,741 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 107 shares during the last quarter. Corrado Advisors LLC raised its holdings in Iron Mountain by 0.6% during the 4th 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 lifted its position in Iron Mountain by 24.4% in the first quarter. Essential Partners LLC now owns 561 shares of the financial services provider’s stock worth $57,000 after buying 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 other Iron Mountain news, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction on 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 directly owned 101,507 shares in the company, valued at approximately $12,454,908.90. This represents a 5.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock in a transaction on Friday, August 7th. The stock was sold at an average price of $121.67, for a total value of $4,681,131.58. Following the transaction, the chief executive officer directly owned 38,474 shares in the company, valued at $4,681,131.58. The trade was a 50.00% decrease in their position. 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 sold a total of 127,422 shares of company stock valued at $15,810,652 over the last quarter. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth A number of research analysts have weighed in on IRM shares. JPMorgan Chase & Co. boosted their price objective on shares of Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Zacks Research raised shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Wall Street Zen lowered Iron Mountain from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Truist Financial set a $140.00 target price on Iron Mountain in a research note on Friday, May 1st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.17. Get Our Latest Stock Report on Iron Mountain

Iron Mountain Price Performance IRM stock opened at $121.34 on Tuesday. The company has a market capitalization of $36.12 billion, a PE ratio of 86.68 and a beta of 1.20. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The firm’s 50-day moving average is $124.42 and its 200 day moving average is $117.50.

Iron Mountain (NYSE:IRM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.97 billion. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the business 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. Sell-side analysts forecast that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year.

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

Iron Mountain 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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B. Metzler seel. Sohn & Co. AG bought a new position in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,219 shares of the financial services provider’s stock, valued at approximately $4,322,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BDFS Capital LLC purchased a new position in shares of Iron Mountain during the fourth quarter worth about $340,000. Allstate Corp raised its stake in Iron Mountain by 105.1% in the fourth quarter. Allstate Corp now owns 22,427 shares of the financial services provider’s stock valued at $1,860,000 after purchasing an additional 11,492 shares in the last quarter. Intact Investment Management Inc. lifted its position in Iron Mountain by 103.4% during the fourth quarter. Intact Investment Management Inc. now owns 71,600 shares of the financial services provider’s stock valued at $5,939,000 after purchasing an additional 36,400 shares during the last quarter. Stevens Capital Management LP bought a new stake in Iron Mountain during the fourth quarter valued at approximately $1,262,000. Finally, Deutsche Bank AG purchased a new position in Iron Mountain in the 2nd quarter worth approximately $385,129,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

Iron Mountain Stock Down 0.6% Shares of IRM opened at $122.19 on Friday. The stock has a market capitalization of $36.38 billion, a P/E ratio of 87.28 and a beta of 1.20. Iron Mountain Incorporated has a twelve month low of $77.77 and a twelve month high of $134.68. The firm has a fifty day simple moving average of $124.52 and a two-hundred day simple moving average of $117.08.

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, beating analysts’ consensus estimates of $0.54 by $0.06. Iron Mountain had a net margin of 5.54% and a negative return on equity of 85.44%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the company earned $1.24 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. 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. Sell-side analysts expect that Iron Mountain Incorporated will post 5.42 EPS for the current fiscal year. Iron Mountain Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be given a $0.864 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s dividend payout ratio (DPR) is currently 247.14%.

Insider Activity at Iron Mountain In related news, CEO William L. Meaney sold 38,474 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was 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 $4,681,131.58. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark Kidd sold 6,000 shares of Iron Mountain 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 owned 101,507 shares in the company, valued at approximately $12,454,908.90. This trade represents a 5.58% decrease in their position. 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 127,422 shares of company stock worth $15,810,652 over the last three months. Insiders own 1.70% of the company’s stock.

Analysts Set New Price Targets IRM has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Iron Mountain from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Iron Mountain from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on shares of Iron Mountain from $121.00 to $138.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Barclays increased their target price on Iron Mountain from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.17.

View Our Latest Stock Report on Iron Mountain

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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Capital Financial Group Inc. Co. ADV bought a new position in Iron Mountain Incorporated (NYSE:IRM – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 15,979 shares of the financial services provider’s stock, valued at approximately $2,018,000. Iron Mountain accounts for approximately 1.1% of Capital Financial Group Inc. Co. ADV’s holdings, making the stock its 19th biggest position.

Several other institutional investors have also made changes to their positions in IRM. Bell Investment Advisors Inc acquired a new stake in shares of Iron Mountain during the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its stake in Iron Mountain by 444.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 283 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 231 shares during the period. Dynamic Wealth Strategies LLC acquired a new position in Iron Mountain in the 1st quarter worth approximately $31,000. Garton & Associates Financial Advisors LLC purchased a new position in Iron Mountain during the 4th quarter worth approximately $25,000. Finally, Johnson Financial Group Inc. acquired a new stake in Iron Mountain during the 3rd quarter valued at $32,000. 80.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes A number of research firms have recently issued reports on IRM. Wells Fargo & Company increased 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. JPMorgan Chase & Co. lifted their price target on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Zacks Research raised Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Barclays raised their price objective on Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. Finally, Truist Financial set a $140.00 target price on Iron Mountain in a research note on Friday, May 1st. Five 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 an average rating of “Moderate Buy” and a consensus price target of $135.17.

Check Out Our Latest Report on IRM Iron Mountain Stock Up 0.3% Iron Mountain stock opened at $129.80 on Tuesday. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The company’s fifty day simple moving average is $124.68 and its 200-day simple moving average is $116.38. The stock has a market cap of $38.64 billion, a P/E ratio of 92.71 and a beta of 1.20.

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, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter last year, the firm earned $1.24 earnings per share. The business’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. On average, equities research analysts expect that Iron Mountain Incorporated will post 5.42 earnings per share for the current fiscal year.

Iron Mountain Dividend Announcement 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 issued a dividend of $0.864 per share. This represents a $3.46 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 15th. Iron Mountain’s payout ratio is currently 247.14%.

Insider Transactions at Iron Mountain In related news, Director Walter C. Rakowich sold 757 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $124.45, for a total transaction of $94,208.65. Following the transaction, the director owned 1,135 shares of the company’s stock, valued at approximately $141,250.75. This trade represents a 40.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Iron Mountain stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $121.67, for a total transaction 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 $4,681,131.58. This trade represents 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. Insiders have sold 135,368 shares of company stock valued at $16,807,080 in the last quarter. Corporate insiders own 1.70% of the company’s stock.

Iron Mountain 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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Greg W. McIntosh, EVP, Chief Commercial Officer, reported a sale of 11,839 shares of Iron Mountain Incorporated (IRM +1.82%) on Aug. 6, 2026, according to a SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$1.5 millionShares sold11,839Post-transaction shares (directly held)80,634Post-transaction value$9.83 millionTransaction value based on SEC Form 4 weighted average sale price ($127.13); post-transaction value based on August 06, 2026, market close ($121.96).

Key questionsHow did the Rule 10b5-1 plan influence this transaction?
The sale was conducted pursuant to a trading plan adopted by McIntosh on May 8, 2026, which allows for scheduled transactions to be executed at predetermined times to manage personal liquidity and diversification.What were the mechanics of the derivative conversion?
The insider exercised 11,839 stock options at a strike price of $37.00 per share and immediately sold the shares at a weighted average price of $127.13 per share to capture the spread.What is the status of the insider's remaining equity position?
Following this transaction, McIntosh continues to hold 80,634 shares of common stock directly, maintaining a significant equity stake valued at $9.83 million as of the Aug. 6, 2026, market close.How has the stock performed relative to this transaction?
As of the transaction date on Aug. 6, 2026, Iron Mountain had delivered a one-year total return of 40%, providing a favorable valuation environment for the planned exercise and sale.Company OverviewMetricValueShare Price (as of market close 2026-08-07)$121.15Market Capitalization$37 billionRevenue (TTM)$7.6 billionNet Income (TTM)$434 millionCompany SnapshotIron Mountain provides comprehensive storage and information management solutions, including physical document storage, data centers, and secure asset management services across its global network of approximately 1,450 facilities spanning over 90 million square feet.The company operates a recurring revenue business model centered on long-term service contracts with customers who require secure storage, retrieval, and management of critical physical and digital assets.Iron Mountain serves more than 225,000 organizations globally, including corporations, financial institutions, healthcare providers, and government agencies that depend on secure information management and regulatory compliance solutions.

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Established in 1951, Iron Mountain has evolved into the global leader in storage and information management, operating in approximately 50 countries and serving a diversified customer base across multiple industries.

The company's competitive advantage derives from its extensive physical infrastructure, proprietary technology platforms, and deep expertise in regulatory compliance and data security.

With a market capitalization of $37 billion and TTM revenues of $7.6 billion, Iron Mountain maintains a strong market position as a specialized real estate investment trust focused on mission-critical asset management.

What this transaction means for investorsThis sale shouldn’t concern investors. It represented a small percentage of the executive’s stake in the company’s stock. McIntosh still retains a sizable stake after the sale.

Additionally, it was completed under a Rule 10b5-1 plan. This is designed to allow insiders to make pre-planned sales for personal reasons without the appearance of acting on non-public information or on any reason tied to their view of the stock’s valuation or business performance.

Importantly, Iron Mountain’s TTM revenue grew 13% year over year. Operating profit grew even faster, by 35%. The company has strong momentum driven by AI and data center demand. It has leased 110 megawatts so far this year and still has 325 megawatts in the pipeline.

The stock trades at a high multiple of earnings, but analysts expect stronger earnings growth in the coming years that may justify the premium.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Iron Mountain. The Motley Fool has a disclosure policy.

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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PORTSMOUTH, N.H.--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM), a global leader in information management services, announces financial results for the second quarter of 2026. “We delivered another record-breaking quarter, with our second quarter results exceeding our expectations due to our team's strong execution of our growth plans and the continued trust of our clients. Our ongoing success continues to be driven by the collective strength in our physical records storage and growt.

For the quarter ended June 2026, Iron Mountain (IRM - Free Report) reported revenue of $2.03 billion, up 18.5% over the same period last year. EPS came in at $1.44, compared to $0.48 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.97 billion, representing a surprise of +3.2%. The company delivered an EPS surprise of +2.86%, with the consensus EPS estimate being $1.40.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Iron Mountain performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenues- Service Revenue: $894.45 million versus the two-analyst average estimate of $840.49 million. The reported number represents a year-over-year change of +27.4%.Revenues- Storage Rental Revenue: $1.13 billion compared to the $1.13 billion average estimate based on two analysts. The reported number represents a change of +12.3% year over year.Adjusted EPS-Fully Diluted from Continuing Operations: $0.6 million versus $0.53 million estimated by two analysts on average.View all Key Company Metrics for Iron Mountain here>>>

Shares of Iron Mountain have returned +8.4% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Iron Mountain (IRM - Free Report) came out with quarterly earnings of $1.44 per share, beating the Zacks Consensus Estimate of $1.4 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +2.86%. A quarter ago, it was expected that this real estate investment trust would post earnings of $1.39 per share when it actually produced earnings of $0.6, delivering a surprise of -56.83%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Iron Mountain, which belongs to the Zacks Business - Information Services industry, posted revenues of $2.03 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.20%. This compares to year-ago revenues of $1.71 billion. The company has topped consensus revenue estimates three times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Iron Mountain shares have added about 51.3% since the beginning of the year versus the S&P 500's gain of 13%.

What's Next for Iron Mountain?While Iron Mountain has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Iron Mountain was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.47 on $1.98 billion in revenues for the coming quarter and $5.85 on $7.92 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Business - Information Services is currently in the top 24% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Business Services sector, Pixelworks (PXLW - Free Report) , has yet to report results for the quarter ended June 2026. The results are expected to be released on August 11.

This maker of chips used in high-end digital video devices is expected to post quarterly loss of $0.20 per share in its upcoming report, which represents a year-over-year change of +80%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Pixelworks' revenues are expected to be $0.3 million, down 96.4% from the year-ago quarter.

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.

Posted by Defense World Staff on Jul 27th, 2026

Entropy Technologies LP boosted its holdings in Iron Mountain Incorporated (NYSE:IRM – Free Report) by 370.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,399 shares of the financial services provider’s stock after purchasing an additional 20,785 shares during the quarter. Entropy Technologies LP’s holdings in Iron Mountain were worth $2,696,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IRM. Cohen & Steers Inc. raised its holdings in shares of Iron Mountain by 20.0% during the fourth quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares during the period. State Street Corp boosted its holdings in shares of Iron Mountain by 1.9% in the 3rd quarter. State Street Corp now owns 17,131,787 shares of the financial services provider’s stock valued at $1,759,494,000 after buying an additional 322,144 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Iron Mountain by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 8,292,653 shares of the financial services provider’s stock valued at $685,374,000 after buying an additional 102,073 shares during the period. Invesco Ltd. grew its position in shares of Iron Mountain by 18.1% during the 3rd quarter. Invesco Ltd. now owns 5,066,516 shares of the financial services provider’s stock valued at $516,481,000 after buying an additional 776,933 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Iron Mountain by 8.5% during the 1st quarter. Principal Financial Group Inc. now owns 4,566,093 shares of the financial services provider’s stock valued at $466,382,000 after buying an additional 358,497 shares during the last quarter. Institutional investors own 80.13% of the company’s stock.

Analysts Set New Price Targets A number of equities analysts have issued reports on IRM shares. Truist Financial set a $140.00 target price on shares of Iron Mountain in a report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings cut Iron Mountain from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 9th. Wall Street Zen downgraded Iron Mountain from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.33.

Check Out Our Latest Stock Report on IRM

Iron Mountain Stock Performance Iron Mountain stock opened at $128.33 on Monday. Iron Mountain Incorporated has a one year low of $77.77 and a one year high of $134.68. The company has a 50-day simple moving average of $125.31 and a 200-day simple moving average of $112.65. The firm has a market capitalization of $38.18 billion, a P/E ratio of 141.03 and a beta of 1.19.

Iron Mountain (NYSE:IRM – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. Iron Mountain had a net margin of 3.76% and a negative return on equity of 91.56%. Iron Mountain’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted $1.17 EPS. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. As a group, sell-side analysts forecast that Iron Mountain Incorporated will post 5.4 earnings per share for the current year.

Iron Mountain Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were paid a $0.864 dividend. The ex-dividend date was Monday, June 15th. This represents a $3.46 annualized dividend and a dividend yield of 2.7%. Iron Mountain’s dividend payout ratio (DPR) is presently 380.22%.

Insider Activity at Iron Mountain In other news, CAO Daniel Borges sold 7,189 shares of Iron Mountain stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Walter C. Rakowich sold 757 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $124.45, for a total value of $94,208.65. Following the transaction, the director owned 1,135 shares of the company’s stock, valued at approximately $141,250.75. This represents a 40.01% 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 90 days, insiders have sold 137,260 shares of company stock valued at $17,361,672. Company insiders own 1.70% of the company’s stock.

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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Posted by Defense World Staff on Jul 21st, 2026

California Public Employees Retirement System trimmed its position in shares of Iron Mountain Incorporated (NYSE:IRM – Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 502,460 shares of the financial services provider’s stock after selling 11,095 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Iron Mountain worth $51,321,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $25,000. Johnson Financial Group Inc. acquired a new position in Iron Mountain during the third quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC lifted its stake in Iron Mountain by 17,500.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 352 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 350 shares during the last quarter. Bayban acquired a new stake in shares of Iron Mountain in the 4th quarter valued at $33,000. Finally, DV Equities LLC bought a new position in shares of Iron Mountain in the 4th quarter valued at $34,000. 80.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In Several analysts recently weighed in on the company. Wall Street Zen upgraded Iron Mountain from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. JPMorgan Chase & Co. lifted their target price on Iron Mountain from $121.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Barclays boosted their target price on Iron Mountain from $127.00 to $143.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Wells Fargo & Company increased their target price on shares of Iron Mountain from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Iron Mountain from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.33.

Check Out Our Latest Analysis on Iron Mountain

Insider Transactions at Iron Mountain In other news, CEO William L. Meaney sold 38,474 shares of Iron Mountain stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $122.83, for a total transaction of $4,725,761.42. Following the transaction, the chief executive officer owned 38,474 shares in the company, valued at approximately $4,725,761.42. The trade was a 50.00% decrease in their ownership of the stock. 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, CAO Daniel Borges sold 7,189 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $125.50, for a total transaction of $902,219.50. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 137,260 shares of company stock worth $17,361,672. 1.70% of the stock is currently owned by insiders.

Iron Mountain Trading Up 0.3% Iron Mountain stock opened at $124.23 on Tuesday. The stock has a 50-day moving average price of $125.35 and a two-hundred day moving average price of $111.45. Iron Mountain Incorporated has a 12 month low of $77.77 and a 12 month high of $134.68. The company has a market capitalization of $36.96 billion, a PE ratio of 136.52 and a beta of 1.19.

Iron Mountain (NYSE:IRM – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. Iron Mountain had a negative return on equity of 91.56% and a net margin of 3.76%.The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the business posted $1.17 earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Iron Mountain has set its Q2 2026 guidance at 1.400-1.400 EPS and its FY 2026 guidance at 5.790-5.860 EPS. As a group, analysts predict that Iron Mountain Incorporated will post 5.4 earnings per share for the current fiscal year.

Iron Mountain Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Monday, June 15th were issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 15th. Iron Mountain’s payout ratio is presently 380.22%.

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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PORTSMOUTH, N.H.--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM), a global leader in information management services, will report its second quarter 2026 financial results before market hours on Wednesday, August 5, 2026. The Company will also host a conference call to discuss results on the same day. The earnings press release, conference call slides, and supplemental financial information will be available at: https://investors.ironmountain.com, under “Quarterly Results” prior to the.

The widespread acceptance and success of the work-from-home trend have enabled the Zacks Business – Information Services industry to address the rising demand for services that ensure risk mitigation, cost reduction and productivity improvement.

The increased adoption of technology is benefiting companies like Recruit Holdings Co., Ltd. (RCRUY - Free Report) , Iron Mountain Incorporated (IRM - Free Report) and Verisk Analytics, Inc. (VRSK - Free Report) , supporting them to offer digitally transformed, personalized and value-added services.

About the Industry The Zacks Business – Information Services industry comprises companies that offer a range of services, including software, data, risk, research, information and analytics solutions. These companies operate in a dynamic business environment characterized by evolving customer behavior, preferences and demographics. The key focus within the industry is currently on channeling money and efforts toward more effective operational components, such as technology, digital transformation and data-driven decision-making, to identify demand sources and target end markets.

3 Trends Shaping the Future of the Information Industry Healthy Demand Environment: The industry is mature and has experienced steady growth in recent years. Revenues, income and operating cash should continue to grow as the economy improves.

Demand for Customer-Centric Solutions: The pandemic stoked a many-fold increase in demand for specific solutions that ensure risk mitigation, cost reduction and productivity improvement. These, in turn, have opened up more business opportunities for industry players. These companies are now modifying their business strategies to offer more customer-centric solutions.

Increased Adoption of Technologies: Digital transformation, automation in assembling and the use of big data in enhancing business information will likely fuel the industry’s growth in the days to come. Companies are shifting from conventional data solutions to technical and domain-specific expertise, data analytics solutions, financial consultancy and operational consultancy services.

Zacks Industry Rank Indicates Encouraging Near-Term Prospects The Business – Information Services industry is housed within the broader Zacks Business Services sector. It carries a Zacks Industry Rank #46, which places it in the top 19% of 245 Zacks industries.

The group’s Industry Rank, which is the average of the Zacks Rank of all the member stocks, indicates outperformance in the near term. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than two to one.

Before we present a few stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and current valuation.

Industry's Price Performance Over the past year, the Zacks Business – Information Services industry has underperformed the Zacks Business Services sector and the S&P 500 Composite.

The industry has declined 23.2% against the S&P 500 composite’s growth of 21.6%. The broader sector has declined 20.2% in the said time frame.

One-Year Price Performance

Industry's Current Valuation Based on the forward 12-month price-to-earnings (P/E), which is commonly used for valuing business information services stocks, the industry is currently trading at 18.67X compared with the S&P 500’s 20.88X and the sector’s 17.02X.

Over the past five years, the industry has traded at a high of 32.54X and a low of 17.8X, with a median of 25.49X.

Price to Forward 12 Months P/E Ratio

3 Business Information Service Stocks in Focus We are presenting three stocks that are well-positioned to grow in the near term.

Recruit Holdings Co., Ltd.: The company offers human resources and digital solutions services globally.

The Human Resources Technology segment is the company's largest growth driver and plays a significant role in the company’s overall sustainability. The segment provides efficient and scalable recruitment solutions to millions of users worldwide through advanced data analytics and artificial intelligence capabilities. Its Marketing Matching Technologies segment growth is another key catalyst of the company’s financial well-being, offering multiple online platforms and software solutions designed to connect consumers and businesses across industries, such as housing, travel, dining, beauty and education.

The company’s long-term strategy of continued investment in technology and digital transformation is also paving the way to success. RCRUY leverages artificial intelligence, machine learning and data-driven insights to enhance user experiences and improve matching accuracy across its platforms. Additionally, acquisitions and partnerships have also expanded the company’s global reach, revenue streams and technological expertise.

The Zacks Consensus Estimate for the company’s fiscal 2026 EPS has increased 3.9% in the past 60 days to 53 cents. RCRUY currently has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. 

Iron Mountain Incorporated: It is a global provider of records & information management services and data center space & solutions.

IRM consistently drives growth through highly recurring storage rental fees, sustained by effective revenue management and strong customer retention. The company reported that its consolidated storage rental revenues grew 15.5% year over year, while global records and information management storage rental revenues rose 8.7% in its last reported quarter.

The Global Data Center business is the key driver for IRM’s overall growth. The business is benefiting from sustained enterprise and hyperscale demand for secure, interconnected capacity. Revenues from the data center business increased 47.1% year over year to $254.7 million, supported primarily by storage rental revenue growth of 46% and an adjusted EBITDA margin growth of 52.1%. The completion of Project Matterhorn, aimed at shifting from a product-based approach to a solutions-led sales model and building a more standardized global operating platform in 2025, elevated the company’s first-quarter 2026 performance. Total revenues increased 21.6% year over year to $1.94 billion, with organic revenue growth of 17.2%. Adjusted EBITDA rose 22.1% to $708 million during the said time frame.

Iron Mountain continues to demonstrate a strong commitment to its shareholders, paying consistent dividends over time. Recently, the company declared a quarterly cash dividend, payable in July 2026, following the 10% dividend increase announced in late 2025.

The Zacks Consensus Estimate for the company’s 2026 EPS has increased 2.3% in the past 60 days to $5.85. IRM currently carries a Zacks Rank #3 (Hold).

Verisk Analytics: The company offers data analytics and technology solutions to the insurance industry.

VRSK continues to strengthen the quality of its revenue stream, with subscription revenues accounting for more than 80% of total revenues in 2025. The company has been raising prices during contract renewals, supporting growth in annualized recurring revenues. Its transition from a transaction-based model to a subscription-driven framework enhances revenue visibility and stability. Subscription fees are typically paid in advance, either quarterly or at the start of the subscription period, supporting stronger cash flow. Additionally, markets tend to assign higher valuations to SaaS-oriented companies, creating long-term value for shareholders. New offerings such as Claims Coverage Identifier and Provider Scoring are expected to attract new clients while encouraging existing customers to adopt subscription-based solutions.

VRSK has also consistently rewarded shareholders through dividends and share repurchases, steadily increasing returns. Meanwhile, its liquidity position remains solid, with a current ratio of 1.2 at the end of the fourth quarter of 2025, above the industry level and comfortably indicating the company’s ability to meet short-term obligations.

The Zacks Consensus Estimate for the company’s 2026 EPS has marginally increased in the past 60 days to $7.63. VRSK currently carries a Zacks Rank #3.

Iron Mountain (IRM +1.91%) works with some of the largest companies on the planet. More than 95% of Fortune 500 corporations and over 240,000 businesses count on Iron Mountain to store physical and digital assets.

Its data centers have gained momentum due to the artificial intelligence (AI) boom, and that's part of the reason the stock has more than doubled over the past five years. The rally doesn't appear to be over, as fundamentals remain strong.

Image source: Getty Images.

Iron Mountain has a customer list that is hard to beat Not only does Iron Mountain have a large customer base, but it has also been working with some of the top businesses for decades. Banks, governments, tech giants, and other companies have been customers for multiple decades.

Once customers start using Iron Mountain, they tend to stick around. The company has a 98% retention rate and gets to raise its prices as customers demand more physical and digital space. Iron Mountain's customers have the flexibility to pay more when needed, and that's made it easy for the real estate investment trust to deliver double-digit year-over-year revenue growth rates for several consecutive quarters, including Q1. Total sales were up by 21.6% year over year during that quarter.

Iron Mountain was recently named a 2026 Google Cloud Partner of the Year in the Business Applications category. That's a notable achievement since Alphabet is a long-term customer. Google's parent company will likely stick around, and the award suggests other cloud providers will continue to use Iron Mountain's service. Accolades like these can also attract new customers.

Revenue growth has been accelerating in recent quarters. The company delivered 16.6% year-over-year revenue growth in Q4 and 12.6% year-over-year growth in Q3. The growth rate is trending upward, and that has helped the stock beat the S&P 500 year to date.

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A solid yield is hard to find with this type of growth Iron Mountain's financial growth comes from a diversified group of customers. Rising AI spend also positions the company to accelerate revenue growth in future quarters. While Iron Mountain's service is a valuable component of the AI build-out, it's one of the few growth stocks that comes with a solid dividend yield.

The yield is nearly 3% right now, and the company raises its quarterly dividend at least once per year. It has hiked its dividend twice per year in some instances. The company's most recent dividend hike came in November 2025, when the quarterly dividend went from $0.785 per share to $0.864 per share, marking a 10% year-over-year increase.

A 10% dividend growth rate is one of the best indicators of a financially robust company that is still gaining market share.  The high yield, impressive dividend growth rate, and star-studded customer pool make Iron Mountain worth closer consideration.

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PORTSMOUTH, N.H.--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM) (the "Company"), a global leader in information management services, today announced that it has priced an upsized offering of a total of $1.5 billion aggregate principal amount of its 6.250% Senior Notes due 2035 (the “Notes”). This represents an increase of $500 million in the combined aggregate principal amount of the Notes, from the previously announced amount of $1.0 billion. The Notes will initially be fully and unconditionally guaranteed by the Company’s subsidiaries that are obligors under each series of its existing notes. The Company intends to use the net proceeds from the offering of the Notes to repay all or a portion of the amounts outstanding under the Company’s revolving credit facility and to pay related fees and expenses, with any remaining proceeds to be used for general corporate purposes.

The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or under any state securities law, and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management needs. Our longstanding commitment to safety, security, sustainability and innovation in support of our customers underpins everything we do.

More News From Iron Mountain Incorporated

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Stock to Watch: Iron Mountain (IRM - Free Report) Boston, MA-based Iron Mountain Incorporated provides records & information management services and data center space & solutions in many countries. The company began operating as a real estate investment trust (REIT) starting from the taxable year ended Dec. 31, 2014. This S&P 500 company serves more than 240,000 customers from various industries through several facilities.

IRM is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Additionally, the company could be a top pick for growth investors. IRM has a Growth Style Score of B, forecasting year-over-year earnings growth of 175.9% for the current fiscal year.

Two analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.13 to $5.85 per share. IRM also boasts an average earnings surprise of +3.3%.

With a solid Zacks Rank and top-tier Growth and VGM Style Scores, IRM should be on investors' short list.

PORTSMOUTH, N.H.--(BUSINESS WIRE)--Iron Mountain has been named 2026 Google Cloud Partner of the Year, Business Applications: Media & Entertainment.

Key Takeaways IRM is expected to post Q1 revenue growth of 16.6% year over year to $1.86 billion.Iron Mountain's storage and records management units are likely to support recurring revenue growth.IRM's data center expansion and strong leasing demand are expected to boost segment results. Iron Mountain Incorporated (IRM - Free Report) is slated to release first-quarter 2026 results on April 30, 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 a surprise of 3.6% in terms of AFFO per share. Results reflected solid performances across all segments, including the storage, service, global RIM and data center business. Higher interest expenses in the quarter undermined the performance to an extent.

Over the trailing four quarters, Iron Mountain’s AFFO per share surpassed the Zacks Consensus Estimate on all occasions, the average beat being 2.75%. The graph below depicts this surprising history:

Factors to Consider Ahead of IRM’s Q1 ResultsIn the first 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 quarter.

The company’s aggressive expansion strategy, including acquisitions and development initiatives, is also expected to have complemented organic growth in storage revenues, aiding top-line performance in the reported period.

The elevated cost of sales and higher selling, general and administrative expenses stemming from international business expansion, along with increased 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 $1.08 billion, up from $948.4 million reported in the year-ago period. The consensus estimate for service revenues stands at $779.3 million, up from $644.2 million reported in the prior-year quarter. The consensus estimate for its global data center segment revenues is pinned at $233.1 million, up from $173.2 million reported in the year-ago period.

The consensus estimate for quarterly total revenues stands at $1.86 billion, indicating an increase of 16.6% from the prior-year quarter’s reported figure.

For the first quarter, the company’s activities in the to-be-reported quarter were adequate to garner analysts’ confidence. The Zacks Consensus Estimate for the quarterly AFFO per share has increased 4 cents to $1.39 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 — BXP, Inc. (BXP - Free Report) and Cousins Properties (CUZ - 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.

BXP, scheduled to report quarterly numbers on April 28, has an Earnings ESP of +0.17% and a Zacks Rank of 3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Cousins Properties is slated to report quarterly numbers on April 29. CUZ has an Earnings ESP of +0.94% 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.

In its upcoming report, Iron Mountain (IRM - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.39 per share, reflecting an increase of 223.3% compared to the same period last year. Revenues are forecasted to be $1.86 billion, representing a year-over-year increase of 16.6%.

Over the last 30 days, there has been an upward revision of 2.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

Given this perspective, it's time to examine the average forecasts of specific Iron Mountain metrics that are routinely monitored and predicted by Wall Street analysts.

It is projected by analysts that the 'Revenues- Service Revenue' will reach $779.29 million. The estimate points to a change of +21% from the year-ago quarter.

The average prediction of analysts places 'Revenues- Storage Rental Revenue' at $1.08 billion. The estimate indicates a year-over-year change of +13.6%.

Analysts' assessment points toward 'Depreciation and amortization' reaching $270.60 million.

View all Key Company Metrics for Iron Mountain here>>>

Over the past month, shares of Iron Mountain have returned +10.3% versus the Zacks S&P 500 composite's +12.2% change. Currently, IRM carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

April 30 (Reuters) - Iron Mountain (IRM.N), opens new tab raised its annual forecast on Thursday, as ​companies increasingly rely on its data centers to ‌meet growing demand for artificial intelligence capabilities.

Demand for computing power needed to train AI models and run applications such as ChatGPT has driven ​a data center boom, expanding the market for ​companies such as Iron Mountain that lease such spaces.

Learn about the latest breakthroughs in AI and tech with the Reuters Artificial Intelligencer newsletter. Sign up here.

Iron ⁠Mountain, which operates as a real estate investment trust, ​reported adjusted funds from operations (AFFO) of $1.43 per share for the ​first quarter, above analysts' estimates of $1.26 according to data compiled by LSEG.

The company is also benefiting from stable cash flows from its core ​storage and records management business, which has a large and ​diversified customer base including Boeing (BA.N), opens new tab, Akamai Technologies (AKAM.O), opens new tab and Coca-Cola (KO.N), opens new tab.

It now expects full-year ‌revenue ⁠between $7.83 billion and $7.93 billion, compared with estimates of $7.74 billion. The company's previous forecast was between $7.63 billion and $7.78 billion.

The annual AFFO is expected between $5.79 and $5.86 per share, compared with estimates ​of $4.68 per share. ​The prior ⁠expectation was between $5.69 and $5.79

"Looking ahead, we are accelerating our cross-selling efforts in ALM and Digital ​and we are off to a strong start ​to ⁠the year in data center leasing, where we have already leased 32 megawatts through April," President and CEO, William Meaney said.

Iron ⁠Mountain ​posted first-quarter revenue of $1.94 billion, compared ​with estimates of $1.86 billion.

Additionally, the company's board also declared a quarterly cash dividend ​of $0.864 per share of common stock on Thursday.

Reporting by Arunesh Sinha

Our Standards: The Thomson Reuters Trust Principles., opens new tab