Adell Harriman & Carpenter Inc. Has $34.67 Million Stake in Iron Mountain Incorporated (NYSE:IRM)

Adell Harriman & Carpenter Inc. grew its holdings in Iron Mountain Incorporated (NYSE:IRM) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 329,829 shares of the financial services provider’s stock after purchasing an additional 1,459 shares during the quarter. Iron Mountain comprises 2.4% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 12th biggest holding. Adell Harriman & Carpenter Inc. owned approximately 0.11% of Iron Mountain worth $34,668,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IRM. Ashton Thomas Securities LLC acquired a new stake in Iron Mountain in the 3rd quarter valued at approximately $31,000. West Branch Capital LLC acquired a new stake in shares of Iron Mountain in the third quarter worth $33,000. Teachers Insurance & Annuity Association of America bought a new position in Iron Mountain during the third quarter worth $36,000. Dunhill Financial LLC raised its stake in Iron Mountain by 50.5% during the 3rd quarter. Dunhill Financial LLC now owns 453 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 152 shares during the last quarter. Finally, Oakworth Capital Inc. bought a new stake in Iron Mountain in the 4th quarter valued at $55,000. 80.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Iron Mountain news, EVP Mithu Bhargava sold 8,263 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $104.49, for a total value of $863,400.87. Following the transaction, the executive vice president now owns 13,054 shares of the company’s stock, valued at approximately $1,364,012.46. The trade was a 38.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William L. Meaney sold 69,131 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $104.85, for a total value of $7,248,385.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,391 shares of company stock valued at $16,805,912. 2.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IRM shares. Wells Fargo & Company cut their price objective on shares of Iron Mountain from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays decreased their price objective on Iron Mountain from $131.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada upped their target price on Iron Mountain from $135.00 to $139.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Iron Mountain to a “strong-buy” rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of Iron Mountain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.17.

Iron Mountain Stock Performance

Shares of NYSE IRM opened at $95.34 on Friday. The business has a fifty day moving average of $105.45 and a two-hundred day moving average of $112.70. Iron Mountain Incorporated has a 52-week low of $67.09 and a 52-week high of $130.24. The stock has a market cap of $27.98 billion, a PE ratio of 264.85, a PEG ratio of 5.84 and a beta of 1.01.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 17th will be given a $0.785 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.72. This represents a $3.14 dividend on an annualized basis and a yield of 3.29%. Iron Mountain’s payout ratio is 794.47%.

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.