#6 - Iron Mountain (NYSE:IRM)
Iron Mountain (NYSE: IRM) A common theme for low-risk stocks is the ability to generate reliable revenue from a consistent customer base. That’s one of the reasons Iron Mountain makes this list. IRM is in the records and data storage industry. When you think about how much data you have in cloud storage, it’s not hard to extrapolate that with the data that businesses generate, some of which is, by necessity still in paper form. Iron Mountain has over 230,000 organizations as customers, including almost 95% of the Fortune 1,000. This is a market that is sure to grow and because it’s a hassle to move data and records that are already securely stored, Iron Mountain has an excellent retention rate. In fact, approximately 25% of the boxes in their storage facilities have been there for 22 years. As an investor, you can also count on Iron Mountain to produce a dividend (currently paying out at a 7.65% annual yield). As a REIT, the company is obligated to return at least 90% of its earnings to shareholders as dividends. So even if the stock underperforms, you still have the security that comes from regular dividend payouts.
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.
- Current Price
- $119.10
- Consensus Rating
- Buy
- Ratings Breakdown
- 6 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $129.40 (8.6% Upside)
