Fintel reports that on November 7, 2023, UBS initiated coverage of Iron Mountain (NYSE:IRM) with a Sell recommendation.
Analyst Price Forecast Suggests 16.57% Upside
As of October 31, 2023, the average one-year price target for Iron Mountain is 70.23. The forecasts range from a low of 65.65 to a high of $78.75. The average price target represents an increase of 16.57% from its latest reported closing price of 60.25.
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The projected annual revenue for Iron Mountain is 5,558MM, an increase of 4.09%. The projected annual non-GAAP EPS is 1.89.
What is the Fund Sentiment?
There are 1487 funds or institutions reporting positions in Iron Mountain. This is an increase of 49 owner(s) or 3.41% in the last quarter. Average portfolio weight of all funds dedicated to IRM is 0.25%, an increase of 3.92%. Total shares owned by institutions decreased in the last three months by 0.63% to 262,847K shares. 
The put/call ratio of IRM is 0.53, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 20,360K shares representing 6.97% ownership of the company. In it's prior filing, the firm reported owning 25,486K shares, representing a decrease of 25.18%. The firm decreased its portfolio allocation in IRM by 20.17% over the last quarter.
AMECX - INCOME FUND OF AMERICA holds 12,762K shares representing 4.37% ownership of the company. No change in the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 12,286K shares representing 4.21% ownership of the company. In it's prior filing, the firm reported owning 12,776K shares, representing a decrease of 3.99%. The firm increased its portfolio allocation in IRM by 4.59% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 9,064K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 9,005K shares, representing an increase of 0.65%. The firm decreased its portfolio allocation in IRM by 0.27% over the last quarter.
Cohen & Steers holds 7,726K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 2,928K shares, representing an increase of 62.10%. The firm increased its portfolio allocation in IRM by 176.39% over the last quarter.
Iron Mountain Background Information
(This description is provided by the company.)
Iron Mountain Incorporated, founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of nearly 93 million square feet across approximately 1,450 facilities in 56 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working.
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