Iron Mountain Incorporated (Delaware) REIT (IRM) Expected to Announce Quarterly Sales of $964.13 Million

Equities analysts expect Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) to post $964.13 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Iron Mountain Incorporated (Delaware) REIT’s earnings, with the highest sales estimate coming in at $976.88 million and the lowest estimate coming in at $945.63 million. Iron Mountain Incorporated (Delaware) REIT posted sales of $934.19 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The firm is scheduled to issue its next earnings report before the market opens on Friday, February 16th.

On average, analysts expect that Iron Mountain Incorporated (Delaware) REIT will report full year sales of $964.13 million for the current year, with estimates ranging from $3.80 billion to $3.83 billion. For the next financial year, analysts anticipate that the company will post sales of $3.97 billion per share, with estimates ranging from $3.90 billion to $4.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Iron Mountain Incorporated (Delaware) REIT.

IRM has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Iron Mountain Incorporated (Delaware) REIT from $39.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. ValuEngine cut shares of Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Evercore ISI initiated coverage on shares of Iron Mountain Incorporated (Delaware) REIT in a research note on Wednesday, October 18th. They set an “outperform” rating and a $46.00 price objective on the stock. Zacks Investment Research cut shares of Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Finally, TheStreet cut shares of Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $41.20.

In related news, CMO Theodore Maclean sold 1,495 shares of Iron Mountain Incorporated (Delaware) REIT stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $40.07, for a total transaction of $59,904.65. Following the sale, the chief marketing officer now directly owns 7,184 shares in the company, valued at $287,862.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William L. Meaney sold 11,014 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $37.09, for a total transaction of $408,509.26. Following the completion of the sale, the insider now owns 111,592 shares in the company, valued at $4,138,947.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,023 shares of company stock worth $686,578. Company insiders own 1.50% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Global X Management Co. LLC raised its position in Iron Mountain Incorporated (Delaware) REIT by 196.2% in the fourth quarter. Global X Management Co. LLC now owns 3,540 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 2,345 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Iron Mountain Incorporated (Delaware) REIT by 11,438.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,846 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 4,804 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in Iron Mountain Incorporated (Delaware) REIT in the third quarter worth about $213,000. Conning Inc. bought a new stake in Iron Mountain Incorporated (Delaware) REIT in the third quarter worth about $213,000. Finally, Solaris Asset Management LLC raised its position in Iron Mountain Incorporated (Delaware) REIT by 94.4% in the fourth quarter. Solaris Asset Management LLC now owns 5,663 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 2,750 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Shares of Iron Mountain Incorporated (NYSE IRM) opened at $33.10 on Friday. Iron Mountain Incorporated has a one year low of $31.91 and a one year high of $41.53. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 3.59. The firm has a market cap of $9,385.74, a PE ratio of 15.91, a P/E/G ratio of 4.76 and a beta of 0.83.

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About Iron Mountain Incorporated (Delaware) REIT

Iron Mountain Incorporated (Iron Mountain) is engaged in storing records, primarily paper documents and data backup media, and provide information management services. The Company offers records management services, data protection and recovery services and information destruction services. Its information management services are divided into three categories: records management services, data protection and recovery services, and information destruction services.

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