Iron Mountain Incorporated (Delaware)Common Stock REIT ($IRM) Stock Forecast: Down 6.0% Today

What is Iron Mountain Incorporated (Delaware)Common Stock REIT?

Iron Mountain (IRM) is a company focusing on storage and information management services, including data centers, and has been showing strong performance in these areas.

Why is Iron Mountain Incorporated (Delaware)Common Stock REIT going down?

IRM stock is down 6.0% on Nov 7, 2024 14:43

• Reported strong Q3 results with increased revenues exceeding expectations, although faced a significant drop in stock price.
• Possible reasons for the stock price decrease include Q3 earnings falling short of estimates, with adjusted earnings per share at 44 cents, potentially disappointing investors.
• Despite outperforming the market in the past 5 years, the recent market reaction to Q3 results suggests short-term concerns among investors.
• The decline in IRM's stock price today may be due to investors taking profits after the earnings report, even though the company remains strong in its core businesses and data center demand.

IRM Price Chart

IRM Technical Analysis

IRM News

Iron Mountain's Q3 AFFO Beat Estimates, Revenues Rise Y/Y

IRM's Q3 results reflect a year-over-year rise in revenues backed by solid storage and service segments and the data-center business performance.

https://www.zacks.com/stock/news/2365492/iron-mountains-q3-affo-beat-estimates-revenues-rise-yy

Why Is Iron Mountain Stock Plunging On Wednesday? - Iron Mountain ( NYSE:IRM )

Iron Mountain Inc. ( NYSE: IRM ) reported third-quarter financial results Wednesday before the bell, following which the stock price declined. Here are the key metrics from the quarter. Q3 Earnings Details: The company reported that the third quarter adjusted earnings per share was 44 cents.

https://www.benzinga.com/news/earnings/24/11/41780782/why-is-iron-mountain-stock-plunging-on-wednesday

$100 Invested In Iron Mountain 5 Years Ago Would Be Worth This Much Today - Iron Mountain ( NYSE:IRM )

Iron Mountain IRM has outperformed the market over the past 5 years by 15.97% on an annualized basis producing an average annual return of 29.67%. Currently, Iron Mountain has a market capitalization of $37.08 billion.

https://www.benzinga.com/insights/news/24/11/41777948/100-invested-in-iron-mountain-5-years-ago-would-be-worth-this-much-today

Iron Mountain ( IRM ) Q3 FFO and Revenues Surpass Estimates

Iron Mountain (IRM) delivered FFO and revenue surprises of 1.80% and 0.06%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2364941/iron-mountain-irm-q3-ffo-and-revenues-surpass-estimates

Iron Mountain to Post Q3 Earnings: What's in the Cards for the Stock?

IRM's Q3 results are likely to show strength in core storage and record management businesses and solid data center demand, despite higher interest expenses.

https://www.zacks.com/stock/news/2363711/iron-mountain-to-post-q3-earnings-whats-in-the-cards-for-the-stock

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Iron Mountain Incorporated (Delaware)Common Stock REIT Price History

22.01.2024 - IRM Stock was up 6.1%

• Iron Mountain (IRM) posted record Q4 results and announced the acquisition of Regency, showcasing strong performance in its storage and service segments.
• Despite missing the consensus revenue estimate, IRM's storage rental revenue grew by 13% year-on-year, demonstrating solid growth in its core business.
• The company's Q4 AFFO beat estimates, with revenues rising year-on-year, driven by robust performance in its data-center business.
• The market reacted positively to Iron Mountain's strong earnings growth and expansion plans, leading to a bullish movement in the stock price.

07.10.2024 - IRM Stock was down 6.0%

• Reported strong Q3 results with increased revenues exceeding expectations, although faced a significant drop in stock price.
• Possible reasons for the stock price decrease include Q3 earnings falling short of estimates, with adjusted earnings per share at 44 cents, potentially disappointing investors.
• Despite outperforming the market in the past 5 years, the recent market reaction to Q3 results suggests short-term concerns among investors.
• The decline in IRM's stock price today may be due to investors taking profits after the earnings report, even though the company remains strong in its core businesses and data center demand.

29.01.2024 - IRM Stock was up 5.1%

• Positive Q4 2023 earnings call may have boosted investor confidence in Iron Mountain's performance.
• Highlighting Iron Mountain as a growth investment possibly attracted more growth investors to the stock.
• Iron Mountain's SmartSelect Composite Rating increased to 96, indicating the stock is outperforming many others.
• Decrease in short interest for Iron Mountain suggests fewer investors are betting against the stock, potentially leading to a short squeeze and driving the stock price higher.

14.10.2023 - IRM Stock was up 5.4%

• Coastal Investment Advisors Inc. has acquired shares of IRM, indicating confidence in the company's performance.
• Iron Mountain has exceeded its data center lease guidance, which may have contributed to the bullish movement.
• The company's transformation from a mushroom company to the world's largest document storage company, along with record Q3 earnings, could have positively influenced investor sentiment.
• The well-covered and growing dividend yield of 4.3% may have attracted investors to IRM stock.

22.01.2024 - IRM Stock was up 6.6%

• Fourth-quarter fiscal 2023 revenue for IRM grew by 11% year-on-year, with storage rental revenue increasing by 13% and service revenue by 8%.
• IRM surpassed FFO and revenue expectations for the quarter ending December 2023.
• Record revenues and adjusted EBITDA were reported by IRM for Q4 and the full year 2023, showcasing robust financial performance.
• Positive earnings and growth projections, including expansion initiatives like Project Matterhorn, likely spurred the bullish movement in IRM's stock price.

22.01.2024 - IRM Stock was up 6.3%

• Today, IRM experienced a strong bullish movement in the market, likely driven by the following factors:
• IRM reported record revenues and Adjusted EBITDA for Q4 and full year 2023, exceeding expectations and showcasing strong financial performance.
• The company's positive Q4 earnings, supported by strength in core storage and record management businesses, along with solid data center demand, contributed to the bullish sentiment.
• Investors may also be optimistic about IRM's future prospects, especially in the context of potential market dynamics influenced by recent political developments, as some sources indicated benefits for REITs like Iron Mountain Inc. from these policy priorities.
• Overall, IRM's robust financial results and positive market positioning likely fueled the bullish movement in its stock price today.

03.07.2023 - IRM Stock was down 5.4%

• The bearish movement in the stock of IRM today could be attributed to the following factors:
• 1. Earnings Miss: The company's Q2 earnings missed the Wall Street consensus by a penny, indicating potential concerns about its financial performance. This could have led to a negative sentiment among investors, resulting in the bearish movement.
• 2. Flat FFO per Share: Despite achieving record revenue and adjusted EBITDA, IRM's normalized FFO per share remained flat with the previous quarter. This lack of growth in key financial metrics may have disappointed investors and contributed to the bearish market movement.
• 3. Dividend Increase: While IRM announced a 5.1% increase in its quarterly dividend, the market may have expected a higher dividend raise. The relatively modest increase in dividend payout could have failed to meet investor expectations, leading to a negative reaction in the stock price.
• 4. Anticipation of Earnings Announcement: The bearish movement in IRM's stock could also be influenced by market anticipation of the company's Q2 earnings results, which were scheduled to be announced the following day. Investors may have taken a cautious approach, resulting in selling pressure on the stock.
• Overall, the combination of an earnings miss, flat FFO per share, a relatively modest dividend increase, and market anticipation of the earnings announcement likely contributed to the bearish movement in IRM's stock today.

06.10.2024 - IRM Stock was down 8.1%

• Iron Mountain (IRM) did not meet market expectations in its third-quarter financial results, resulting in a decline in the stock price.
• Even though IRM exceeded revenue and FFO estimates, the market responded negatively to its adjusted earnings per share of 44 cents in Q3.
• Investors seemed disappointed by IRM's performance in comparison to Wall Street estimates, prompting a sell-off of the stock.
• The market's reaction indicates that while IRM demonstrated strength in core storage and data center demand, concerns about earnings performance dampened investor sentiment, leading to the bearish movement.

05.08.2024 - IRM Stock was down 2.9%

• Unusual options activity observed for IRM, with a notable number of options trades executed.
• The significant volume of options trades may suggest heightened speculation or hedging maneuvers by market participants.
• The decline in IRM's stock price could be attributed to investors responding to the unusual options activity, potentially triggering higher selling pressure on the stock.

06.10.2024 - IRM Stock was down 6.8%

• Today's bearish movement in IRM stock can be attributed to the following factors:
• Despite surpassing revenue and FFO estimates in Q3, investors may have been disappointed by the marginal beats, leading to profit-taking.
• Concerns about higher interest expenses could have weighed on investor sentiment, overshadowing the strength in core storage and record management businesses.
• The market may have reacted negatively to Wall Street estimates for key metrics, possibly indicating a cautious outlook on IRM's future performance.
• Overall market conditions or sector-specific trends could have also influenced the bearish movement in IRM stock today.

03.10.2023 - IRM Stock was up 6.0%

• The bullish movement in IRM's stock today can be attributed to a combination of factors:
• 1. Strong Q3 2023 Earnings: The positive earnings report released by Iron Mountain Incorporated indicates a solid performance in their storage segment and data center business. This news likely boosted investor confidence and contributed to the bullish market movement.
• 2. Dividend Declaration: Iron Mountain's announcement of a $0.65/share quarterly dividend, in line with previous payouts, may have attracted income-seeking investors. The forward yield of 4.34% is also appealing, potentially driving up demand for the stock.
• 3. Interest Expense Impact: Although Iron Mountain's Q3 earnings missed estimates, the market movement remained bullish. This suggests that the impact of higher interest expenses on the company's earnings was overshadowed by other positive factors, such as strong performance in their storage segment.
• Overall, the combination of positive earnings, dividend declaration, and solid performance in key business segments likely contributed to the bullish market movement in IRM's stock today.

03.06.2024 - IRM Stock was up 1.8%

• IRM has seen a strong bullish movement, rising 27.5% year-to-date, outperforming the market.
• The company's recurring revenue model and expansion into the data center business are likely driving its performance despite the current elevated interest rate environment.
• Investors seem optimistic about IRM's growth prospects, leading to the bullish movement in the stock today.
• The positive outlook for IRM's performance over the past 5 years, with an average annual return of 23.62%, also contributes to the bullish sentiment surrounding the stock.