APG Asset Management N.V. Invests $16.16 Million in Iron Mountain Incorporated (NYSE:IRM)

APG Asset Management N.V. bought a new stake in Iron Mountain Incorporated (NYSE:IRM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 159,200 shares of the financial services provider's stock, valued at approximately $16,160,000. APG Asset Management N.V. owned about 0.05% of Iron Mountain at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Key Financial Inc raised its stake in shares of Iron Mountain by 25,100.0% during the 4th quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after acquiring an additional 251 shares in the last quarter. Halbert Hargrove Global Advisors LLC purchased a new position in Iron Mountain in the fourth quarter worth $26,000. IMG Wealth Management Inc. acquired a new position in shares of Iron Mountain during the fourth quarter worth $26,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Iron Mountain by 46.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 155 shares during the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in shares of Iron Mountain in the 4th quarter worth $53,000. 80.13% of the stock is currently owned by institutional investors.

Insider Activity at Iron Mountain

In other news, CEO William L. Meaney sold 69,125 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $99.83, for a total transaction of $6,900,748.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Daniel Borges sold 6,433 shares of Iron Mountain stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.84, for a total value of $597,239.72. Following the completion of the transaction, the chief accounting officer now owns 288 shares of the company's stock, valued at approximately $26,737.92. This represents a 95.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 318,973 shares of company stock worth $29,370,872 in the last three months. Company insiders own 2.10% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Iron Mountain from $125.00 to $112.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. StockNews.com raised shares of Iron Mountain from a "sell" rating to a "hold" rating in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their target price on shares of Iron Mountain from $135.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Truist Financial assumed coverage on shares of Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price objective on the stock. Finally, Barclays lowered 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. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Iron Mountain presently has an average rating of "Buy" and an average target price of $121.29.

Iron Mountain Trading Down 0.6 %

IRM traded down $0.53 during midday trading on Tuesday, hitting $83.86. 366,784 shares of the company were exchanged, compared to its average volume of 1,815,498. The company's 50 day simple moving average is $89.09 and its 200 day simple moving average is $105.22. The firm has a market capitalization of $24.63 billion, a price-to-earnings ratio of 137.48, a price-to-earnings-growth ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 1-year low of $72.33 and a 1-year high of $130.24.

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

Iron Mountain Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 17th were issued a dividend of $0.785 per share. This represents a $3.14 annualized dividend and a dividend yield of 3.74%. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Monday, March 17th. Iron Mountain's payout ratio is 514.75%.

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.