Waterfront Capital Partners LLC Decreases Stake in Iron Mountain Incorporated (NYSE:IRM)

Waterfront Capital Partners LLC reduced its holdings in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 45.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 240,592 shares of the financial services provider's stock after selling 197,141 shares during the quarter. Iron Mountain comprises 3.9% of Waterfront Capital Partners LLC's holdings, making the stock its 8th largest holding. Waterfront Capital Partners LLC owned 0.08% of Iron Mountain worth $28,590,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Iron Mountain in the 3rd quarter valued at $31,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Iron Mountain in the second quarter valued at $32,000. West Branch Capital LLC acquired a new position in shares of Iron Mountain during the third quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iron Mountain during the 2nd quarter worth about $36,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Iron Mountain in the 3rd quarter valued at about $36,000. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Down 0.4 %

NYSE:IRM traded down $0.49 during trading hours on Friday, hitting $123.75. 858,209 shares of the company traded hands, compared to its average volume of 1,587,391. Iron Mountain Incorporated has a one year low of $62.95 and a one year high of $130.24. The company has a market cap of $36.32 billion, a PE ratio of 346.43, a PEG ratio of 7.47 and a beta of 0.99. The firm's 50-day simple moving average is $120.42 and its 200-day simple moving average is $105.53. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 674.63.

Iron Mountain Dividend Announcement

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 $0.715 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 2.31%. Iron Mountain's payout ratio is presently 794.47%.

Analyst Upgrades and Downgrades

IRM has been the topic of a number of research reports. Barclays dropped their price target on Iron Mountain from $133.00 to $131.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. The Goldman Sachs Group increased their target price on Iron Mountain from $106.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of Iron Mountain from $82.00 to $121.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Iron Mountain from $135.00 to $139.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, BNP Paribas raised shares of Iron Mountain to a "strong-buy" rating in a research report on Wednesday, November 6th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Iron Mountain presently has a consensus rating of "Buy" and an average price target of $131.00.

Insider Buying and Selling at Iron Mountain

In other news, CEO William L. Meaney sold 15,875 shares of the company's stock in a transaction on 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 transaction, the chief executive officer now owns 295,650 shares of the company's stock, valued at $34,697,484. This represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy J. Murdock sold 8,500 shares of Iron Mountain stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $116.38, for a total value 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 approximately $1,725,799.02. This trade represents a 36.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,125 shares of company stock worth $6,613,584 in the last quarter. 2.10% of the stock is currently owned by company insiders.

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.