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Iron Mountain Incorporated (NYSE:IRM), a global leader in storage and information management services and prominent player in the Specialized REITs industry, has seen its stock price touch a 52-week low, dipping to $73.49. According to InvestingPro data, the stock has experienced a sharp decline of over 10% in the past week alone. This latest price level reflects a significant decline, with the stock down nearly 33% over the past six months. Technical indicators from InvestingPro suggest the stock is currently in oversold territory. Despite market challenges, Iron Mountain maintains a strong dividend track record, having consistently paid dividends for 16 consecutive years, with a current yield of approximately 4%. Despite this downturn, Iron Mountain's position in the industry and its strategic initiatives will be closely watched by investors as they anticipate the company's next moves in an effort to recover value and momentum. For deeper insights into IRM's valuation and growth prospects, InvestingPro subscribers have access to 12 additional exclusive ProTips and comprehensive financial analysis through the Pro Research Report.
In other recent news, Iron Mountain Incorporated reported its fourth-quarter 2024 earnings, revealing a slight miss on both earnings per share (EPS) and revenue compared to analyst forecasts. The company posted an EPS of $0.50 against a forecast of $0.51, and revenues reached $1.58 billion, falling short of the expected $1.6 billion. Despite this, Iron Mountain's full-year 2024 revenue increased by 12% year-over-year to $6.15 billion, with adjusted EBITDA rising by 14% to $2.24 billion. UBS analyst Kevin McVeigh maintained a Sell rating on Iron Mountain shares, with a price target of $45, citing concerns over the company's high valuation and slowing revenue growth. Additionally, Iron Mountain announced an update on federal income tax considerations related to its REIT status, which is crucial for shareholders to understand the tax implications. In leadership news, Iron Mountain appointed Gary Aitkenhead as Executive Vice President and General Manager of its Data Centers division, a move expected to drive growth in this business segment. The company also provided a positive outlook for 2025, projecting revenue growth and further expansion in its data center and digital solutions businesses.
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