Iron Mountain Incorporated (Delaware) REIT (IRM) Announces $0.59 Quarterly Dividend

Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM) announced a quarterly dividend on Wednesday, February 14th, RTT News reports. Stockholders of record on Thursday, March 15th will be paid a dividend of 0.5875 per share by the financial services provider on Monday, April 2nd. This represents a $2.35 annualized dividend and a dividend yield of 7.08%.

Iron Mountain Incorporated (Delaware) REIT has decreased its dividend by an average of 2.1% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Iron Mountain Incorporated (Delaware) REIT has a payout ratio of 109.8% indicating that 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 Incorporated (Delaware) REIT to earn $2.32 per share next year, which means the company may not be able to cover its $2.35 annual dividend with an expected future payout ratio of 101.3%.

Shares of Iron Mountain Incorporated (NYSE:IRM) traded down $0.35 during trading hours on Wednesday, hitting $33.19. The stock had a trading volume of 1,441,187 shares, compared to its average volume of 2,040,000. Iron Mountain Incorporated has a one year low of $31.91 and a one year high of $41.53. The firm has a market cap of $9,510.00, a price-to-earnings ratio of 40.98, a PEG ratio of 4.78 and a beta of 0.83. The company has a debt-to-equity ratio of 3.59, a current ratio of 1.08 and a quick ratio of 1.08.

In related news, Director Walter C. Rakowich sold 1,734 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $36.17, for a total value of $62,718.78. Following the sale, the director now owns 17,676 shares of the company’s stock, valued at approximately $639,340.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Edward Bicks sold 1,880 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $41.50, for a total value of $78,020.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,023 shares of company stock worth $686,578. 1.50% of the stock is owned by insiders.

IRM has been the topic of several recent research reports. Zacks Investment Research lowered Iron Mountain Incorporated (Delaware) REIT from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. TheStreet lowered Iron Mountain Incorporated (Delaware) REIT from a “b” rating to a “c+” rating in a report on Thursday, December 7th. ValuEngine lowered Iron Mountain Incorporated (Delaware) REIT from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Stifel Nicolaus reissued a “buy” rating and set a $43.00 price objective (up previously from $40.00) on shares of Iron Mountain Incorporated (Delaware) REIT in a report on Friday, October 20th. Finally, Evercore ISI initiated coverage on Iron Mountain Incorporated (Delaware) REIT in a report on Wednesday, October 18th. They set an “outperform” rating and a $46.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Iron Mountain Incorporated (Delaware) REIT has an average rating of “Hold” and an average price target of $41.20.

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Iron Mountain Incorporated (Delaware) REIT Company Profile

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.

Dividend History for Iron Mountain Incorporated (Delaware) REIT (NYSE:IRM)

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