Iron Mountain Incorporated (NYSE:IRM) Shares Sold by Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC lowered its position in Iron Mountain Incorporated (NYSE:IRM) by 20.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 610,200 shares of the financial services provider’s stock after selling 155,361 shares during the quarter. Iron Mountain accounts for 4.0% of Heitman Real Estate Securities LLC’s investment portfolio, making the stock its 6th biggest position. Heitman Real Estate Securities LLC owned 0.21% of Iron Mountain worth $72,510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IRM. PNC Financial Services Group Inc. raised its stake in Iron Mountain by 2.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 53,877 shares of the financial services provider’s stock valued at $6,402,000 after purchasing an additional 1,446 shares during the period. Friedenthal Financial bought a new position in shares of Iron Mountain during the third quarter worth $824,000. Hennion & Walsh Asset Management Inc. increased its stake in Iron Mountain by 19.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 75,809 shares of the financial services provider’s stock valued at $6,794,000 after buying an additional 12,540 shares during the last quarter. Brookstone Capital Management grew its position in shares of Iron Mountain by 13.2% in the 2nd quarter. Brookstone Capital Management now owns 98,425 shares of the financial services provider’s stock valued at $9,766,000 after acquiring an additional 11,454 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Iron Mountain by 36.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 19,192 shares of the financial services provider’s stock valued at $2,281,000 after purchasing an additional 5,086 shares during the period. 80.13% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $117.96, for a total value of $1,872,615.00. Following the transaction, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,874,874. The trade was a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wendy J. Murdock sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.38, for a total transaction of $989,230.00. Following the completion of the sale, the director now directly owns 14,829 shares of the company’s stock, valued at $1,725,799.02. The trade was a 36.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,125 shares of company stock valued at $6,613,584. 2.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on IRM. Barclays cut their price target on shares of Iron Mountain from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company increased their price target on Iron Mountain from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Stifel Nicolaus lifted their target price on Iron Mountain from $117.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, BNP Paribas upgraded Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iron Mountain presently has a consensus rating of “Buy” and a consensus price target of $131.00.

Iron Mountain Stock Performance

IRM opened at $121.59 on Tuesday. Iron Mountain Incorporated has a 12-month low of $64.66 and a 12-month high of $130.24. The business has a 50 day moving average of $120.59 and a 200-day moving average of $106.19. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63. The stock has a market cap of $35.68 billion, a price-to-earnings ratio of 337.76, a PEG ratio of 7.43 and a beta of 0.98.

Iron Mountain Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.86 annualized dividend and a dividend yield of 2.35%. Iron Mountain’s dividend payout ratio (DPR) is presently 794.47%.

About Iron Mountain

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.