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Iron Mountain Inc . (NYSE:IRM), a prominent player in the Specialized REITs industry with a market capitalization of $26.5 billion, recently reported a significant stock transaction by its Senior Vice President and Chief Accounting Officer, Daniel Borges. According to InvestingPro data, the company has maintained consistent dividend payments for 16 consecutive years, currently offering a 3.56% yield. According to a Form 4 filing with the SEC, Borges sold 6,433 shares of Iron Mountain stock on March 3, 2025, at an average price of $92.84 per share, totaling approximately $597,239. This transaction comes as the stock has experienced a 16.05% decline year-to-date, though the company maintains strong revenue growth of 12.22% over the last twelve months.
In addition to the sale, Borges also engaged in several other transactions on March 1, 2025. He acquired shares through the vesting of performance units and restricted stock units, but these acquisitions were at no cost. Furthermore, Borges disposed of shares to cover tax obligations, resulting in a total transaction value of $319,852 at a price of $93.17 per share.
These transactions are part of a pre-arranged trading plan, indicating a strategic approach to managing his holdings in the company. As of the latest filing, Borges holds 288 shares directly.
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, just below the expected $0.51, and revenues of $1.58 billion, falling short of the anticipated $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. The company also announced positive revenue and adjusted EBITDA guidance for 2025, projecting a 9% growth in revenue at the midpoint.
Additionally, UBS analyst Kevin McVeigh maintained a Sell rating on Iron Mountain with a price target of $45.00, expressing concerns over weakening fundamentals in the fourth quarter and a decrease in client retention rates. McVeigh highlighted challenges in the data center segment, noting a significant increase in churn rate due to older clients relocating operations. Iron Mountain’s anticipated capital expenditures for 2025 are expected to reach upwards of $2 billion, with a planned 10% dividend increase.
Furthermore, Iron Mountain updated its 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 SEC, replaces previous descriptions of the company’s federal income tax treatment.
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