The market has seen significant movement relating to Iron Mountain IRM, a well-established REIT that specializes in data centers. Recently, Iron Mountain has seen a surge in stock interest with Sanctuary Advisors LLC acquiring 95,499 and Geode Capital Management raising their stock position. There have been concerns about the company being overpriced, but this has not deterred new investments in the company from Oddo BHF Asset Management Sas, Valued Retirements Inc., and Savoie Capital LLC among others.
Former IG Group CEO June Felix has been appointed to the company's board, strengthening its finetech expertise. The company's profits have also been strong, with Q3 FFO and revenues surpassing estimates. Data center expansion appears to be a strong point for the company, who recently announced a 350MW Virginia Acquisition Deal. Despite this, the company's net income has turned negative and Iron Mountain's stock plunged in recent trading.
The company is projected to continue its success in the data sector, with AI-driven growth propelling Iron Mountain to record highs. However, some market observers, like Jim Cramer, have expressed dislike for the stock, and Barclays PLC and Vestcor Inc have reduced their shareholdings.
Iron Mountain IRM News Analytics from Wed, 12 Jun 2024 07:00:00 GMT to Sat, 14 Dec 2024 22:07:23 GMT - Rating 3 - Innovation -2 - Information 7 - Rumor -3
