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.
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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.
Key Takeaways Iron Mountain's recurring storage revenues and pricing supported strong first-quarter 2026 growth. IRM's data center revenues jumped 47.1% as leasing stayed strong and utilization remained high.IRM grew digital and asset lifecycle businesses over 50% year over year, boosting service revenues. Iron Mountain Incorporated (IRM - Free Report) shares have rallied 30.2% in the past three months compared with the industry’s growth of 10.2%.
Iron Mountain’s recurring storage rental revenues remain resilient through pricing and strong retention, while rapid data center expansion, robust leasing demand, and growing digital and asset lifecycle management businesses continue to drive growth and diversify revenues beyond traditional records storage.
Analysts seem bullish on this Zacks Rank #3 (Hold) stock. The Zacks Consensus Estimate for its 2026 AFFO per share has been revised northward by 13 cents to $5.85 over the past two months.
Image Source: Zacks Investment Research
Factors Behind IRM Stock’s Price SurgeIron Mountain continues to rely on highly recurring storage rental revenues, supported by pricing, revenue management and strong customer retention. In the first quarter of 2026, consolidated storage rental revenues increased 15.4% year over year, while Global RIM storage rental grew 8.7%. These results indicate that pricing and revenue management continue to help offset gradual declines in physical storage volumes. Management also highlighted that the physical records storage business delivered its best quarterly growth in years, helping fund investment in faster-growing offerings.
The Global Data Center business remains Iron Mountain's primary growth engine, benefiting from sustained enterprise and hyperscale demand for secure, interconnected capacity. In the first quarter of 2026, data center revenues increased 47.1% year over year to $254.7 million, driven primarily by 46% increase in storage rental revenues, while adjusted EBITDA margin remained above 50% at 52.1%. The operating portfolio reached 507.2 megawatt (MW) from 424.2 MW a year ago and was 97.2% leased, reflecting strong utilization. Leasing activity remained healthy, with 21,849 kilowatt (KW) of new and expansion leases signed during the quarter.
Management reported 32 MW of data center leasing from the beginning of the year through April 2026, suggesting demand carried into the early second quarter. Churn remained low at 0.4%, while cash mark-to-market was 12%, pointing to pricing power on renewals. The development pipeline also expanded, with 181.5 MW under construction and 684.2 MW held for future development, bringing total potential data center capacity to 1.37 gigawatt (GW). This robust pipeline supports the company’s strategy to build and energize capacity ahead of demand and sustain high growth rates as more sites come online.
Iron Mountain is broadening beyond traditional records storage through digital and asset lifecycle management capabilities that management is increasingly cross-selling across its large customer base. Management said that the data center, digital and ALM businesses grew more than 50% year over year in first-quarter 2026, while consolidated service revenues rose 30.6% year over year to $841 million.
Within Global RIM, service revenues increased 16.5% year over year, indicating healthy demand for higher-value services alongside storage. Recent acquisitions in IT asset disposition and logistics capabilities extend the lifecycle offering set and deepen customer relationships, which can improve wallet share over time, even as paper-based workflows evolve. The company’s global footprint and broad customer mix also help scale these newer offerings across regions and industries.
Key Concerns for Iron MountainCompetition from other industry players is likely to lead to aggressive pricing pressure and hurt Iron Mountain’s prospects. High interest expenses and adverse foreign currency movements remain a concern.
Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Lamar Advertising (LAMR - Free Report) and Vornado Realty Trust (VNO - Free Report) , each carrying a Zacks Rank of 2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for LAMR’s 2026 FFO per share is pegged at $8.81, which indicates year-over-year growth of 6.66%.
The Zacks Consensus Estimate for VNO’s full-year FFO per share is pinned at $2.34, which calls for an increase of 0.86% from the year-ago period.
Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.
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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Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
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VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
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Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +24% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
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.
Momentum investors should take note of this Business Services stock. IRM has a Momentum Style Score of B, and shares are up 0.4% over the past four weeks.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.13 to $5.85 per share. IRM boasts an average earnings surprise of +3.3%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, IRM should be on investors' short list.
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.
PORTSMOUTH, N.H.--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM) (the "Company"), a global leader in information management services, today announced a proposed offering of $1.0 billion aggregate principal amount of its Senior Notes due 2035 (the “Notes”). 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 r.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
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What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
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How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +24% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
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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.
On April 16, 2026, Iron Mountain Inc IRM shares rose 3.7% today, continuing a strong upward trend that has seen the stock increase 43.1% year-to-date and 47.5% over the past year. The current price of $117.73 is just shy of its 52-week high of $118.02, while the low for the same period sits at $77.77.
GF Value™ verdict: Current price of $117.73 compared to GF Value™ of $101.12 indicates the stock is 16.4% overvalued.GF Score™ of 87/100 signifies a strong ranking, suggesting good long-term potential.Notable insider activity shows that insiders have sold $63.6 million in shares over the last three months, indicating potential concerns from those with inside knowledge. Is IRM Overvalued or Undervalued? According to the GF Value™, Iron Mountain Inc IRM is currently valued at $101.12, which means the shares are trading at a 16.4% premium to this intrinsic value. This level of overvaluation suggests that there is limited margin of safety for prospective buyers. The GF Valuation label categorizes IRM as "Modestly Overvalued," indicating that while the stock may not be excessively overpriced, there are risks associated with entering at current levels.
The overvaluation signals caution as the stock price is significantly above its intrinsic value, reflecting potentially unsustainable growth expectations. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
How Does IRM's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 245.3x 63.0x Forward P/E 50.2x N/A The current P/E ratio of 245.3x is significantly above the 5-year median P/E of 63.0x, indicating that the stock is trading at a valuation well above its historical averages. This analysis agrees with the GF Value™ verdict, reinforcing the notion that IRM is overvalued at its current price.
What Does IRM's GF Score™ Tell Us? Metric Rating GF Score™ 87/100 Financial Strength 3/10 Profitability 8/10 Growth 9/10 Valuation 7/10 Momentum 8/10 The GF Score™ of 87/100 suggests a strong overall performance, particularly in the areas of Growth (9/10) and Profitability (8/10). However, the Financial Strength score of 3/10 highlights a significant weakness that could pose risks to investors. This combination of scores indicates that while IRM has strong growth and profitability metrics, its financial stability may be a concern for potential investors.
What Are Insiders Doing with IRM Stock? In recent months, insider activity has indicated a trend of selling, with insiders unloading a total of $63.6 million worth of shares. This pattern of selling, without any buying activity, could suggest that insiders may have concerns about the company's future performance or current valuation. Such activity often warrants attention as it may reflect the sentiments of those with the most knowledge about the company's operations.
What This Means for Investors Based on the GF Value™ assessment, Iron Mountain Inc IRM is currently overvalued with its shares trading at a premium to intrinsic value. This situation may lead to potential risks for investors considering entry at this price point.
For the complete analysis, visit the Iron Mountain Inc IRM stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is IRM's GF Score™?
IRM's GF Score™ is 87/100, indicating a strong ranking that suggests good potential for long-term returns based on historical performance.
Is IRM overvalued or undervalued?
IRM is currently overvalued according to the GF Value™ assessment, with shares trading at a 16.4% premium to its intrinsic value.
What is IRM's P/E ratio?
IRM's P/E (TTM) is 245.3x, significantly above its 5-year median P/E of 63.0x, indicating that the stock is trading at a valuation well above historical levels.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Iron Mountain Incorporated (NYSE:IRM – Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $121.00 and last traded at $117.9670, with a volume of 1526779 shares. The stock had previously closed at $120.53.
Analyst Upgrades and Downgrades A number of research analysts recently weighed in on IRM shares. Barclays raised their price objective on Iron Mountain from $126.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Loop Capital set a $130.00 price objective on Iron Mountain in a research note on Wednesday, March 4th. Zacks Research downgraded Iron Mountain from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Wells Fargo & Company raised their price objective on Iron Mountain from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Iron Mountain in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Iron Mountain has a consensus rating of “Moderate Buy” and an average price target of $124.60.
Get Our Latest Stock Report on Iron Mountain
Iron Mountain Stock Performance The company has a 50-day simple moving average of $107.39 and a 200 day simple moving average of $97.59. The company has a market capitalization of $35.09 billion, a P/E ratio of 245.76 and a beta of 1.13.
Iron Mountain Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Monday, March 16th were given a $0.864 dividend. This represents a $3.46 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, March 16th. Iron Mountain’s payout ratio is currently 720.83%.
Insiders Place Their Bets In other Iron Mountain news, EVP Mithu Bhargava sold 59,725 shares of Iron Mountain stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $104.62, for a total value of $6,248,429.50. Following the transaction, the executive vice president directly owned 16,054 shares of the company’s stock, valued at $1,679,569.48. The trade was a 78.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jennifer Allerton sold 7,000 shares of Iron Mountain stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $108.88, for a total value of $762,160.00. Following the completion of the transaction, the director directly owned 11,541 shares in the company, valued at approximately $1,256,584.08. This represents a 37.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 451,648 shares of company stock valued at $48,297,449. Corporate insiders own 1.70% of the company’s stock.
Institutional Trading of Iron Mountain Several institutional investors have recently modified their holdings of IRM. Norges Bank acquired a new stake in shares of Iron Mountain during the 4th quarter worth approximately $368,890,000. Cohen & Steers Inc. grew its holdings in shares of Iron Mountain by 20.0% during the 4th quarter. Cohen & Steers Inc. now owns 18,903,716 shares of the financial services provider’s stock worth $1,568,110,000 after purchasing an additional 3,155,034 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Iron Mountain by 597.9% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,161,589 shares of the financial services provider’s stock valued at $322,292,000 after buying an additional 2,708,560 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Iron Mountain by 66.5% in the 4th quarter. Principal Financial Group Inc. now owns 4,207,596 shares of the financial services provider’s stock valued at $349,021,000 after buying an additional 1,680,438 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Iron Mountain in the 3rd quarter valued at $109,941,000. Institutional investors and hedge funds own 80.13% of the company’s stock.
About Iron Mountain (Get 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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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.
Verisk Analytics (VRSK - Free Report) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.76 per share. This compares to earnings of $1.73 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.49%. A quarter ago, it was expected that this insurance data provider would post earnings of $1.6 per share when it actually produced earnings of $1.82, delivering a surprise of +13.75%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Verisk, which belongs to the Zacks Business - Information Services industry, posted revenues of $782.6 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.86%. This compares to year-ago revenues of $753 million. 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.
Verisk shares have lost about 21% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Verisk?While Verisk has underperformed 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 Verisk 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 $1.93 on $803.78 million in revenues for the coming quarter and $7.63 on $3.22 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 16% 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.
One other stock from the same industry, Iron Mountain (IRM - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on April 30.
This real estate investment trust is expected to post quarterly earnings of $1.39 per share in its upcoming report, which represents a year-over-year change of +223.3%. The consensus EPS estimate for the quarter has been revised 2.7% higher over the last 30 days to the current level.
Iron Mountain's revenues are expected to be $1.86 billion, up 16.6% from the year-ago quarter.
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 >>>> .
PORTSMOUTH, N.H.--(BUSINESS WIRE)--Iron Mountain Incorporated (NYSE: IRM), a global leader in information management services, announces financial results for the first quarter of 2026. "We are pleased to report another quarter of exceptional results, with record performance that exceeded our expectations and showed strength across all key metrics. Our business is experiencing significant momentum, driven by outstanding performance in our growth businesses of data center, ALM, and digital and c.
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
Iron Mountain (IRM - Free Report) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +2.88%. 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 $0.61, delivering a surprise of -56.12%.
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 $1.94 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 4.31%. This compares to year-ago revenues of $1.59 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 38.1% since the beginning of the year versus the S&P 500's gain of 4.2%.
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 $1.44 on $1.91 billion in revenues for the coming quarter and $5.72 on $7.72 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 16% 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, Banzai International, Inc. (BNZI - Free Report) , has yet to report results for the quarter ended March 2026.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +80.7%. The consensus EPS estimate for the quarter has been revised 18.6% higher over the last 30 days to the current level.
Banzai International, Inc.'s revenues are expected to be $2.9 million, down 14.2% from the year-ago quarter.
Iron Mountain (IRM - Free Report) reported $1.94 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 21.6%. EPS of $1.43 for the same period compares to $0.43 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.86 billion, representing a surprise of +4.31%. The company delivered an EPS surprise of +2.88%, with the consensus EPS estimate being $1.39.
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: $841.38 million compared to the $779.29 million average estimate based on two analysts. The reported number represents a change of +30.6% year over year.Revenues- Storage Rental Revenue: $1.09 billion versus the two-analyst average estimate of $1.08 billion. The reported number represents a year-over-year change of +15.4%.Adjusted EPS-Fully Diluted from Continuing Operations: $0.6 million versus $0.52 million estimated by two analysts on average.View all Key Company Metrics for Iron Mountain here>>>
Shares of Iron Mountain have returned +13.4% over the past month versus the Zacks S&P 500 composite's +12.2% 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.
Key Takeaways IRM posted Q1 AFFO of $1.43, up 22.2% year over year and above estimates.IRM revenues jumped 21.6% on strong service growth and data center expansion.IRM raised 2026 guidance, citing pricing strength, leasing gains and demand across segments. Iron Mountain Incorporated (IRM - Free Report) reported first-quarter 2026 adjusted funds from operations (AFFO) per share of $1.43, topping the Zacks Consensus Estimate by 2.88%. The figure grew 22.2% year over year.
The quarter reflected broad-based momentum, led by strong expansion in growth businesses and solid pricing in the core storage franchise. Organic revenue growth was 17.2% year over year, underscoring continued demand and effective revenue management. The company raised its 2026 FFO per share outlook.
Total revenues of $1.94 billion beat the consensus mark by 4.31% and rose 21.6% year over year.
IRM's Revenue Mix Skews to Service UpsideStorage rental revenues increased 15.4% year over year to $1.095 billion. On a constant-currency basis, storage rental revenues rose 12.6%, supported by sustained pricing actions and resilient underlying demand.
Service revenues climbed 30.6% year over year to $841.4 million, with constant-currency growth of 27.6%. The faster service line growth continued to lift total revenue growth, aided by higher activity levels across servicing and solutions-oriented offerings.
Iron Mountain's Segment Results Show Broad StrengthGlobal RIM revenues rose 11.8% year over year to $1.404 billion, driven by higher storage rental and service revenues. Organic growth for the segment was 8.3% on a constant-currency basis, showing that the core records management engine is still expanding, even as the company scales newer offerings.
The Global Data Center segment delivered a 47.1% revenue increase to $254.7 million, reflecting continued portfolio expansion and favorable leasing dynamics. Corporate and Other revenues increased 69.7% to $277.3 million, with management attributing growth in part to Asset Lifecycle Management strength, which is reported within this segment.
IRM's Data Center Leasing and Portfolio MetricsOperationally, Iron Mountain ended the quarter with 507.2 leasable megawatts in its operating portfolio and a 97.2% leased rate by megawatts on a total portfolio basis. Stabilized assets were 98.3% leased, highlighting tight utilization as the company brings additional capacity online.
Leasing activity remained healthy. The company signed 21,849 kilowatts of new and expansion leases in the quarter, while churn was just 0.4%. Renewal pricing was favorable, with cash mark-to-market at 12% and GAAP mark-to-market at 14%, indicating continued pricing power at lease rollover.
Iron Mountain's Storage Volume and Pricing LeversIn the storage franchise, total global storage volume reached 745,276 thousand cubic feet at quarter-end. Storage facility capacity utilization improved to 81.4%, and the records management retention rate was 93.3%, reinforcing the stickiness of the long-duration storage base that supports recurring cash flows.
Pricing and productivity measures also showed up in unit economics. Storage revenue per square foot increased to $11.74, while storage NOI per square foot was $9.10. These metrics suggest ongoing benefit from revenue management initiatives, even as the company continues to invest in growth categories.
Iron Mountain's Liquidity Keeps Leverage in RangeIron Mountain exited the quarter with $250.7 million of cash and cash equivalents, up from $158.5 million at year-end 2025. As of March 31, 2026, the company had net debt of $16.97 billion, up from $16.39 billion as of Dec. 31, 2025, with a weighted average years to maturity of 4.4 years and a weighted average interest rate of 5.4%.
Management maintained its long-term net lease-adjusted leverage ratio at 4.8 in the quarter, within its targeted 4.5-5.5 range, while continuing to fund development activity across the data center platform.
IRM Raises 2026 Outlook and Dividend UpdateReflecting the strong start to the year, Iron Mountain raised full-year 2026 guidance. The company now expects revenues of $7.825-$7.925 billion and adjusted EBITDA of $2.925-$2.965 billion, both implying roughly 14% growth at the midpoint. The Zacks Consensus Estimate for 2026 revenues is pegged at $7.72 billion.
It also lifted AFFO per share guidance to $5.79-$5.86. The Zacks Consensus Estimate is pegged at $5.72, which lies below the guided range.
Shareholder returns remained a priority. On April 30, 2026, the board declared a quarterly cash dividend of $0.864 per share for the second quarter, payable July 3, 2026, to shareholders on record as of June 15, 2026.
IRM’s Zacks RankCurrently, IRM carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other REITsDigital Realty Trust (DLR - Free Report) reported first-quarter 2026 core FFO per share of $2.04, up 15.3% from $1.77 a year ago. Results beat the Zacks Consensus Estimate of $1.94, delivering a 5.15% earnings surprise. Results reflected strong leasing activity and healthy commencements from a growing backlog.
Prologis (PLD - Free Report) reported first-quarter 2026 core FFO per share of $1.50, surpassing the Zacks Consensus Estimate of $1.48. Results were supported by robust leasing activity.
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.
Iron Mountain stock price soared to a record high on Thursday after the company published a strong financial report. It rose to $125.26, up by 78% from its lowest level in April, pushing its market capitalization to over $36 billion.
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Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
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 several countries. The company started operating as a real estate investment trust (REIT) starting from the taxable year ended Dec. 31, 2014. This S&P 500 member 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.
Momentum investors should take note of this Business Services stock. IRM has a Momentum Style Score of A, and shares are up 16.7% over the past four weeks.
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 Momentum and VGM Style Scores, IRM should be on investors' short list.
Iron Mountain stock is building positive momentum. What’s pushing IRM stock higher? Trend‑Following Flows Support Today's MoveToday's action looks more like a continuation of an established trend than a reaction to any single headline. With mega‑cap momentum lifting the Nasdaq and overall risk tone improving, Iron Mountain is benefiting from a supportive backdrop even as sector breadth remains mixed.
The stock's longer‑term strength is also playing a role. Iron Mountain is up 32.56% over the past year, and dips have consistently been bought. That kind of positioning tends to amplify green‑market sessions, and Iron Mountain’s outperformance versus its sector suggests this is more than just passive Real Estate flow.
Technical Analysis: Uptrend Intact and Momentum BuildingIRM's chart remains firmly bullish. The stock is trading 7.6% above its 20‑day SMA, 15.9% above its 50‑day SMA and nearly 30% above its 200‑day SMA. This is the kind of spacing typically seen in strong, sustained uptrends. The 20‑day SMA is also above the 50‑day SMA, reinforcing the strength of the near‑term trend.
Trend confirmation is also coming from the golden cross in March, when the 50‑day SMA moved above the 200‑day SMA — a signal that often attracts longer‑term trend followers. After setting a swing low in March and a swing high in May (which also marked the 52‑week high), the stock continues to hold in the upper portion of its 52‑week range.
MACD is also leaning bullish: it's above its signal line and the histogram is positive, indicating improving upside pressure and fading selling momentum.
Key Levels Traders Are Watching Next Key Support: $110.00 — This level has acted as a recent demand zone and sits close to the 50‑day SMA ($110.67), making it a practical "line in the sand" for trend‑focused traders. Sector Performance ContextIron Mountain is outperforming the Real Estate sector by more than a full percentage point today (1.30% vs. 0.18%). With Real Estate sitting mid‑pack among the 11 sectors and Technology leading, IRM's relative strength stands out versus its immediate peer group.
IRM Shares Are ClimbingIRM Price Action: Iron Mountain shares were up 1.77% at $129.06 at the time of publication on Friday. The stock is approaching its 52-week high of $134.09, according to Benzinga Pro.
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It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFor value investors, it's all about finding good stocks at good prices, and discovering which companies are trading under their true value before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to help pick out the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
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 upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.13 to $5.85 per share. IRM 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.
April 2026 delivered another major milestone for the portfolio. We posted an insane 80% year-over-year increase. In April 2026, I received $1,742.78 in dividend income compared to $968.18 in April 2025. Looking beyond just April, the full 2026 dividend income picture continues to trend dramatically ahead of 2025. The portfolio is producing significantly more cash flow through the first four months of the year.
Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock.
By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.
However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Iron Mountain (IRM - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.
Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Here are three of the most important factors that make the stock of this real estate investment trust a great growth pick right now.
Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Iron Mountain is 3.3%, investors should actually focus on the projected growth. The company's EPS is expected to grow 175.7% this year, crushing the industry average, which calls for EPS growth of 10.8%.
Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for Iron Mountain is 16.3%, which is higher than many of its peers. In fact, the rate compares to the industry average of 6.8%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 10.3% over the past 3-5 years versus the industry average of 8.3%.
Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
The current-year earnings estimates for Iron Mountain have been revising upward. The Zacks Consensus Estimate for the current year has surged 2.8% over the past month.
Bottom LineWhile the overall earnings estimate revisions have made Iron Mountain a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination positions Iron Mountain well for outperformance, so growth investors may want to bet on it.
