Iron Mountain EVP sells stock for $161,355

Mithu Bhargava, the Executive Vice President and General Manager of the Digital Business Unit at Iron Mountain Inc . (NYSE:IRM), a prominent player in the Specialized REITs industry with a market capitalization of $26.5 billion, recently reported a notable stock transaction. On March 3, 2025, Bhargava sold 1,738 shares of Iron Mountain common stock at an average price of $92.84 per share, amounting to a total sale of approximately $161,355. The transaction comes as the stock has declined 16% year-to-date, currently trading at $88.24.

Earlier, on March 1, Bhargava also executed a transaction involving the acquisition of 2,662 shares through the vesting of restricted stock units, with no cash exchanged in the process. Additionally, on the same day, Bhargava disposed of 924 shares to cover tax obligations associated with the vesting, at a price of $93.17 per share, totaling around $86,089. For comprehensive insider trading analysis and additional insights, InvestingPro subscribers can access detailed reports and trading patterns.

These transactions were part of Bhargava’s ongoing management of her equity holdings in the company. Iron Mountain maintains a strong dividend track record, having paid dividends for 16 consecutive years, with a current yield of 3.56%.

In other recent news, Iron Mountain Incorporated reported its fourth-quarter 2024 earnings, which showed a slight miss on earnings per share, posting $0.50 against the forecasted $0.51. Revenues also came in below expectations at $1.58 billion compared to the anticipated $1.6 billion. Despite these shortfalls, the company demonstrated robust growth in several areas, with full-year revenue increasing by 12% to $6.15 billion and adjusted EBITDA rising by 14% to $2.24 billion. The Records and Information Management and Data Center businesses were significant contributors, with the latter growing by 25% to $620 million.

In other developments, UBS analyst Kevin McVeigh maintained a Sell rating on Iron Mountain, citing concerns over weakening fundamentals in the fourth quarter and a decrease in client retention rates. He pointed out that the company’s retention rate decreased to 92.6% from 92.7% in the previous quarter and highlighted a significant increase in the churn rate for data centers. The analyst also noted that Iron Mountain’s anticipated capital expenditures for 2025 could reach upwards of $2 billion, raising concerns about financial constraints.

Additionally, Iron Mountain announced an update on federal income tax considerations relevant to its REIT status, ensuring shareholders are informed of the tax context in which the company operates. This update, filed with the Securities and Exchange Commission, supersedes previous descriptions of the company’s federal income tax treatment. These recent developments provide investors with key insights into Iron Mountain’s financial performance and strategic direction.

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