Iron Mountain Incorporated (NYSE:IRM - Get Free Report) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Monday, December 16th will be given a dividend of 0.715 per share by the financial services provider on Tuesday, January 7th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Monday, December 16th.
Iron Mountain has raised its dividend payment by an average of 0.8% annually over the last three years. Iron Mountain has a dividend payout ratio of 134.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Iron Mountain to earn $4.57 per share next year, which means the company should continue to be able to cover its $2.86 annual dividend with an expected future payout ratio of 62.6%.
Iron Mountain Price Performance
IRM stock traded up $2.53 during trading on Thursday, hitting $116.97. The stock had a trading volume of 2,278,475 shares, compared to its average volume of 1,610,838. Iron Mountain has a 1-year low of $58.55 and a 1-year high of $130.24. The stock has a market cap of $34.31 billion, a price-to-earnings ratio of 146.72, a price-to-earnings-growth ratio of 7.33 and a beta of 0.99. The company's 50 day moving average price is $118.98 and its two-hundred day moving average price is $101.17. The company has a debt-to-equity ratio of 674.63, a quick ratio of 0.79 and a current ratio of 0.79.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Iron Mountain from $82.00 to $121.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price objective on Iron Mountain from $117.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. The Goldman Sachs Group upped their target price on Iron Mountain from $106.00 to $120.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Wells Fargo & Company upped their target price on Iron Mountain from $120.00 to $135.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Finally, Barclays upped their target price on Iron Mountain from $91.00 to $133.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $115.50.
Check Out Our Latest Stock Report on Iron Mountain
Insider Activity at Iron Mountain
In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Iron Mountain news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $117.36, for a total transaction of $1,863,090.00. Following the completion of the sale, the chief executive officer now directly owns 295,650 shares in the company, valued at $34,697,484. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Edward Baker-Greene sold 2,262 shares of the company's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $109.75, for a total value of $248,254.50. Following the sale, the executive vice president now owns 9,049 shares of the company's stock, valued at $993,127.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,637 shares of company stock worth $3,210,575. 2.10% of the stock is currently owned by insiders.
About Iron Mountain
(
Get Free Report)
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.
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