Iron Mountain buys IO Data Centers' US business for $1.3 billion

Lloyd Doyle
December 12, 2017

About 273,508 shares traded. CubeSmart (NYSE:CUBE) has declined 19.28% since December 11, 2016 and is downtrending. It has underperformed by 35.13% the S&P500. Finally, IFP Advisors Inc raised its holdings in shares of Iron Mountain Incorporated (Delaware) REIT by 2.4% in the 2nd quarter. The Teachers Insurance & Annuity Association Of America holds 262,389 shares with $9.02M value, up from 247,397 last quarter. Cubesmart now has $5.24 billion valuation. The stock increased 0.75% or $0.3 during the last trading session, reaching $40.42.

Among 5 analysts covering Iron Mountain Incorporated (NYSE:IRM), 2 have Buy rating, 2 Sell and 1 Hold. It has underperformed by 20.42% the S&P500. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Therefore 65% are positive. CubeSmart had 39 analyst reports since July 21, 2015 according to SRatingsIntel. As per Wednesday, October 11, the company rating was downgraded by Goldman Sachs. The company has a consensus rating of "Buy" and a consensus target price of $41.20. The stock of Enbridge Energy Partners, L.P. (NYSE:EEP) has "Sector Perform" rating given on Wednesday, January 25 by National Bank Canada. Its down 0.25, from 1.07 in 2017Q1. 30 funds opened positions while 63 raised stakes. Legal & General Group Plc now owns 1,279,747 shares of the financial services provider's stock worth $43,969,000 after acquiring an additional 61,365 shares in the last quarter. Raymond James And Associates holds 0.19% or 2.52M shares. Cypress Cap Mgmt Limited Liability Corporation (Wy) holds 57,300 shares or 0% of its portfolio. Bessemer Group Incorporated Inc holds 0% or 38,757 shares. The company's stock had a trading volume of 1,043,887 shares, compared to its average volume of 1,143,374. Citadel Advsr stated it has 404,068 shares. Following the sale, the senior vice president now owns 2,104 shares in the company, valued at $73,934.56. Institutional ownership in the company is *tba while the short ratio is 17.14. Investors of record on Friday, December 15th will be given a dividend of $0.5875 per share. River Road Asset Management LLC now owns 3,471,116 shares of the financial services provider's stock valued at $123,815,000 after buying an additional 114,171 shares in the last quarter. Huntington Bank owns 935 shares. Exxonmobil Invest Mgmt Tx reported 47,160 shares. Summit Equities stated it has 60,519 shares. Kayne Anderson Advisors Lp holds 0.54% or 2.92M shares in its portfolio. It also reduced Cummins Inc (NYSE:CMI) stake by 7,418 shares and now owns 33,732 shares. Alphabet Inc was reduced too.

Advantus Capital Management Inc decreased American Electric Power Co Inc (NYSE:AEP) stake by 15,248 shares to 89,414 valued at $6.21 million in 2017Q2.

Tracking the indicators for Iron Mountain Inc (IRM), we see that the 14 day Stochastic RSI indicator is showing signs of a possible bearish divergence. Therefore 40% are positive.

"Iron Mountain's deep customer relationships, global scale and excellent access to capital markets, combined with IO's strong presence in the high-growth data centre industry will provide attractive opportunities for our employees and a broader, more geographically diverse platform of facilities and services for our customers". The firm has "Buy" rating by Stifel Nicolaus given on Friday, September 1. Iron Mountain Incorporated (Delaware) REIT's quarterly revenue was up 2.4% compared to the same quarter a year ago. Stifel Nicolaus restated a "buy" rating and set a $40.00 price objective on shares of Iron Mountain Incorporated (Delaware) REIT in a research note on Sunday, September 3rd. The rating was maintained by Stifel Nicolaus with "Buy" on Friday, July 28. As per Monday, April 18, the company rating was upgraded by Stifel Nicolaus. Deutsche Bank downgraded the stock to "Sell" rating in Wednesday, June 7 report.


With a ton of ratings changes, analysts seem to be bullish Andrew Wittmann from Baird published rating update maintaing their current rating of Neutral, Baird analyst Andrew Wittmann is leading the bulls with a 43 PT from 39 reflecting an raise of 10.26%.

Investors sentiment increased to 1.34 in Q2 2017.

Several hedge funds have recently modified their holdings of the company. 224.27 million shares or 1.46% more from 221.04 million shares in 2017Q1 were reported. Ngam LP reported 0.02% of its portfolio in Iron Mountain Incorporated (NYSE:IRM). Credit Agricole S A holds 0.02% or 190,248 shares in its portfolio.

United Capital Financial Advisers LLC boosted its position in shares of Iron Mountain Incorporated (NYSE:IRM) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). Commonwealth Equity Svcs Incorporated invested in 0.01% or 42,452 shares.

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