Portsmouth, New Hampshire-based Iron Mountain Incorporated (IRM) provides records management, data management solutions, and information destruction services. Valued at $37.9 billion by market cap, the company serves banking, energy, entertainment, health care, insurance, law firm, life science, retail, and pharmaceutical industries.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and IRM perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the REIT - specialty industry.
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Despite its notable strength, IRM slipped 5.1% from its 52-week high of $134.09, achieved on May 6. Over the past three months, IRM stock gained 18.5%, outperforming the Nasdaq Composite’s ($NASX) 16% gains during the same time frame.
www.barchart.com Shares of IRM rose 53.4% on a YTD basis, outperforming NASX’s YTD 11.4% gains. However, in the longer term, the stock climbed 24.1% over the past 52 weeks, underperforming NASX’s 31.7% returns over the last year.
To confirm the bullish trend, IRM is trading above its 200-day moving average since early February. The stock has been trading above its 50-day moving average since early January, with slight fluctuations.
www.barchart.com On Apr. 30, IRM shares closed up more than 10% after reporting its Q1 results. Its revenue stood at $1.9 billion, up 21.5% year over year. The company’s AFFO per share increased 22.2% year over year to $1.43.
In the competitive arena of REIT - specialty, Digital Realty Trust, Inc. (DLR) has taken the lead over IRM, showing resilience with 19.1% gains on a YTD basis and a 4.3% uptick over the past 52 weeks.
Wall Street analysts are bullish on IRM’s prospects. The stock has a consensus “Strong Buy” rating from the 12 analysts covering it, and the mean price target of $131.54 suggests a potential upside of 3.4% from current price levels.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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