GSI Capital Advisors LLC Reduces Stock Position in Iron Mountain Incorporated (NYSE:IRM)

GSI Capital Advisors LLC trimmed its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,029 shares of the financial services provider’s stock after selling 9,196 shares during the period. Iron Mountain comprises about 1.4% of GSI Capital Advisors LLC’s holdings, making the stock its 29th biggest position. GSI Capital Advisors LLC’s holdings in Iron Mountain were worth $2,736,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Merit Financial Group LLC raised its holdings in Iron Mountain by 91.5% during the fourth quarter. Merit Financial Group LLC now owns 14,933 shares of the financial services provider’s stock worth $1,570,000 after purchasing an additional 7,137 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Iron Mountain by 254.1% during the 3rd quarter. Tidal Investments LLC now owns 20,536 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 14,737 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Iron Mountain by 151.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,147 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,511 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at about $24,122,000. Finally, Proficio Capital Partners LLC acquired a new stake in Iron Mountain in the 4th quarter valued at about $102,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

Insider Activity

In other Iron Mountain news, EVP Mithu Bhargava sold 1,738 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $161,355.92. Following the completion of the sale, the executive vice president now owns 13,054 shares of the company’s stock, valued at $1,211,933.36. This trade represents a 11.75 % 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. Also, CEO William L. Meaney sold 172,552 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $91.33, for a total transaction of $15,759,174.16. Following the sale, the chief executive officer now owns 237,402 shares in the company, valued at $21,681,924.66. This represents a 42.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 318,979 shares of company stock valued at $30,666,904. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. Wells Fargo & Company reduced their target price on Iron Mountain from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Barclays dropped their price target on Iron Mountain from $130.00 to $118.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, StockNews.com downgraded Iron Mountain from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.67.

Iron Mountain Stock Up 1.0 %

Shares of Iron Mountain stock opened at $86.93 on Wednesday. Iron Mountain Incorporated has a fifty-two week low of $73.53 and a fifty-two week high of $130.24. The business’s fifty day moving average is $94.03 and its two-hundred day moving average is $107.88. The firm has a market cap of $25.53 billion, a PE ratio of 142.50, a P/E/G ratio of 5.15 and a beta of 1.04.

Iron Mountain (NYSE:IRM) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Iron Mountain had a negative return on equity of 401.83% and a net margin of 2.95%. During the same quarter last year, the company posted $0.52 earnings per share. Equities research analysts anticipate that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 17th will be given a $0.785 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.14 annualized dividend and a dividend yield of 3.61%. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. Iron Mountain’s dividend payout ratio is presently 514.75%.

Iron Mountain Company Profile

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