DailyIQ
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IRM·Iron Mountain Incorporated

$120.90
-0.29 (-0.24%)
Overnight$124.16+3.26 (+2.70%)
High
$123.86
Open
$122.62
Market Cap
37.51B
52W High
$134.68
Low
$120.59
P. Close
$120.90
P/E
89.60
52W Low
$77.77
Fwd P/E
44.66
DailyIQ Est.
$145.88
Inst. Ownership
2.9%
Short Interest
2.73%
Technical Score (1D)
32
SELL
News Sentiment
53
MIXED
Iron Mountain’s latest earnings highlight that its data center leasing arm has become the primary engine of future revenue growth, a shift from its traditional records business. The company’s legacy records operations generate a steady cash flow that now funds the expansion of its data center portfolio, ensuring that growth can be financed internally. This internal funding model reduces reliance on external capital and supports the maintenance of healthy operating margins across the leasing segment. As a result, investors can expect a more sustainable revenue trajectory over the next 1–10 trading days, with the data center segment likely to drive incremental earnings. The buy rating issued by analysts underscores confidence that the data center portfolio will continue to scale while preserving profitability. Market participants should watch the pace of new data center acquisitions, as accelerated purchases could signal aggressive expansion plans. Additionally, monitoring occupancy rates in the competitive data center market will provide insight into the company’s ability to sustain high utilization levels. Any slowdown in acquisition activity or a dip in occupancy could temper the projected growth trajectory. Therefore, keeping an eye on acquisition announcements and occupancy reports will be key to assessing whether Iron Mountain’s data center strategy remains on track.
Earnings Summary
Iron Mountain is a global real‑estate‑backed asset manager that provides information management, digital transformation, and data‑center services to a broad client base, positioning it within the specialty REIT sector. In the last two quarters, Q1 2026 and Q2 2026, earnings per share surged to $1.43 and $1.44, respectively, both well above estimates of $0.5202 and $0.5639, while revenue climbed to $1.93615 billion and $2.02906 billion, up from $1.7541 billion and $1.84317 billion in Q3 and Q4 2025; the trend shows consistent revenue growth and a dramatic EPS increase. Historically, the company has posted five of the last six EPS beats, with revenue rising each quarter and EPS jumping from $0.50 in Q4 2024 to $1.44 in Q2 2026, reflecting a strong earnings trajectory that has attracted analyst upgrades. Recent earnings call commentary highlighted a 19% year‑over‑year revenue rise driven by a 39% jump in data‑center income, a raised full‑year revenue outlook, and a reaffirmed dividend; analysts have lifted price targets and noted robust demand for digital storage. Investors should watch for the next quarterly guidance, as management’s focus on cost‑control initiatives and digital transformation could further improve margins; monitoring storage utilization metrics, dividend policy, and any regulatory changes affecting data‑center operations will be key to assessing the sustainability of the earnings momentum. The company’s disciplined capital allocation, including continued share repurchases and modest dividend increases, has reinforced its cash‑flow profile and provided a buffer against potential market volatility.

EPS

EstBeatMiss
$0.34$0.65$0.96$1.27$1.58Q2'25Q3'25Q4'25Q1'26Q2'26Q3'26
QtrEstActual+/−
Q3'26$0.61 - -
Q2'26$0.56$1.44+155.4%
Q1'26$0.52$1.43+174.9%
Q4'25$0.49$1.44+196.3%
Q3'25$0.53$0.54+2.4%
Q2'25$0.50$0.48-4.2%

Revenue

EstBeatMiss
$1.7B$1.8B$1.9B$2.0B$2.1BQ2'25Q3'25Q4'25Q1'26Q2'26Q3'26
QtrEstActual+/−
Q3'26$2.0B - -
Q2'26$2.0B$2.0B+2.1%
Q1'26$1.9B$1.9B+3.0%
Q4'25$1.8B$1.8B+3.4%
Q3'25 - $1.8B -
Q2'25 - $1.7B -

Market Data

IRM Stock Snapshot

IRM is currently trading at $124.16, giving Iron Mountain Incorporated a market cap of 37.51B and a P/E ratio of 89.6. Today's range spans $120.59–$123.86, with shares opening at $122.62 and moving up $2.16 (1.8%) from the prior close. DailyIQ's technical score sits at 32/100 (SELL) with a news sentiment reading of 53/100.

Over the past year IRM has traded between $77.77 and $134.68 - the current price is +59.7% off the 52-week low and -7.8% from the high. 17 analysts cover the stock with a Buy consensus and a mean 12-month target of $144.60 (range $140.00–$153.00), implying upside of +16.5%.

IRM scores 32/100 (SELL) and trades at $124.16 - in the upper portion of its 52-week range in the $77.77–$134.68 annual range. Sentiment at 53/100 is neutral. (P/E: 89.6) For a large-cap in Real Estate with 37.51B in capitalization, a SELL signal means that sector rotation money leaving Real Estate will likely exit through names like this first - the combination of negative technicals and neutral news flow is exactly what systematic sector rotation models identify as underweight candidates.

The current SELL phase for IRM (32/100) at $124.16 (in the upper portion of its 52-week range) suggests that the market is discounting either a fundamental deterioration or a sector headwind that hasn't fully appeared in the earnings line yet. Sentiment at 53/100 (neutral) confirms that news flow is not providing a counternarrative. At 37.51B in Real Estate capitalization, IRM has the liquidity for institutional exits to be orderly, but orderly doesn't mean shallow within the $77.77–$134.68 range.

Last updated: August 9, 2026

Company Insights: Iron Mountain Inc. (IRM)

Iron Mountain's revenue climbed to $2.029 billion in Q2 2026, a 4.9 % rise over Q1 2026, while Q1 revenue of $1.936 billion marked a 9.6 % quarterly increase. The company’s earnings per share remained flat, hovering around $1.44, yet consistently beat consensus estimates across the last four quarters. This earnings beat pattern highlights disciplined cost control and efficient capital allocation amid a growing data‑center portfolio. The firm’s 52‑week high of $134.68 and low of $77.77 place the current price of $121.15 36.6 % above the low and 21.1 % below the high, indicating a moderate upside potential within the existing range. Market sentiment is on a rising trajectory, with a 14‑day trend score of 83 and a delta of 26, suggesting growing investor confidence.

Iron Mountain has delivered a robust 35.7 % return over the past year, outperforming many peers in the REIT sector. The company’s 86.5x forward P/E places it well above the peer average of 30.1, reflecting a valuation premium driven by its specialty data‑center and information‑management services. Analysts have recently revised price targets upward, with BNP Paribas setting a new mean target of $145 and other banks adjusting to $147 and $153, reinforcing a bullish consensus. The firm’s EPS trajectory, with a 188 % jump in Q4 2025 and 230 % in Q1 2026, demonstrates a strong earnings acceleration that supports the upward price target. Yet the high P/E suggests that upside may be limited if the market discounts growth expectations or if macro‑economic headwinds tighten real‑estate financing costs.

The 52‑week range anchors the current valuation; at $121.15 the stock sits roughly one‑third above the low, providing a buffer for potential downside while still offering upside toward the analyst mean of $144.5. A 21.1 % gap to the high implies a 12‑13 % upside from the current price, assuming the target materializes. The recent data‑center income surge of 39 % and a 19 % YoY revenue rise to $1.03 billion in Q2 2026 have prompted upward revisions, indicating that the company’s core services are gaining traction. Nevertheless, the premium valuation relative to peers warrants careful monitoring of earnings sustainability and capital allocation decisions. Investors should weigh the potential for continued data‑center expansion against the risk of overvaluation in a tightening interest‑rate environment.

The analyst consensus, now hovering around $144.5, signals a 19 % upside from the 52‑week midpoint of $134.68. BNP Paribas’s adjustment to $145 from $138 underscores confidence in the company’s raised 2026 revenue outlook. The firm’s earnings beat pattern and stable EPS suggest that the upside is supported by fundamentals, yet the high P/E may temper enthusiasm if growth stalls. The rising sentiment score, coupled with a 35.7 % YTD return, points to a positive market trajectory that aligns with the consensus view. However, the company’s exposure to real‑estate financing costs and regulatory changes in data‑center operations remains a risk that could dampen future performance. A balanced view acknowledges the upside potential while recognizing valuation and macro‑economic constraints.

Iron Mountain’s performance has been bolstered by a 39 % jump in data‑center income and a 19 % YoY revenue rise to $1.03 billion in Q2 2026, driving upward revisions in analyst targets. The firm’s earnings have consistently beaten estimates, with EPS surging 188 % in Q4 2025 and 230 % in Q1 2026, reinforcing its earnings quality narrative. Despite these strengths, the 86.5x forward P/E indicates a valuation premium over peers such as AMT, ARE, AVB, BXP, and CBRE, which average 30.1x. The rising sentiment trend and a 35.7 % YTD return suggest investor optimism, but the high valuation may limit upside if growth expectations are not met. Overall, the company presents a balanced mix of growth drivers, valuation considerations, and risk factors that warrant a nuanced investment approach.

Revenue Growth

Iron Mountain’s Q2 2026 revenue of $2.029 billion reflects a 4.9 % quarterly rise, underscoring steady top‑line momentum.

The company’s 39 % jump in data‑center income signals a strong shift toward high‑margin services within its portfolio.

Consistent revenue acceleration across quarters supports a bullish outlook for future earnings expansion.

Earnings Consistency

EPS has remained stable around $1.44 across successive quarters, demonstrating disciplined cost control.

The firm has consistently beaten earnings estimates, with a 188 % jump in Q4 2025 and 230 % in Q1 2026.

Such earnings resilience provides a solid foundation for the upward price target revisions.

Data‑Center Upside

Data‑center income grew 39 % YoY, positioning the company as a leader in high‑growth digital infrastructure.

The surge in digital transformation services has expanded the firm’s client base across 61 countries.

This growth trajectory underpins the recent upward revisions in analyst price targets.

Valuation Premium

The forward P/E of 86.5x places Iron Mountain well above the peer average of 30.1x, indicating a valuation premium.

High valuation reflects market expectations of continued earnings acceleration and data‑center expansion.

Investors must weigh the premium against potential upside limited by macro‑economic headwinds.

Peer Comparison

Compared to peers AMT, ARE, AVB, BXP, and CBRE, Iron Mountain trades at a substantial premium, highlighting its specialty REIT positioning.

Peer averages show a lower P/E, suggesting that the market views IRM’s growth prospects more favorably.

This relative valuation underscores the company’s differentiated service mix within the sector.

Sentiment Momentum

A 14‑day sentiment trend score of 83 and a delta of 26 indicate rising investor confidence.

The 35.7 % YTD return aligns with the positive sentiment, reinforcing market enthusiasm.

Sustained sentiment gains may support further upside if earnings continue to beat expectations.

Dividend & Capital

Iron Mountain maintains a consistent dividend policy, providing income stability for income‑focused investors.

Capital allocation decisions, including buybacks, have historically supported share price appreciation.

Monitoring dividend sustainability and capital deployment remains essential for long‑term value creation.

Positioning IRM

Iron Mountain’s current price of $121.15 sits 36.6 % above the 52‑week low and 21.1 % below the high, offering a moderate upside toward the analyst mean of $144.5. Add exposure when the stock approaches the lower end of its range and sentiment remains positive, as mean‑reversion can be reliable in this context. Reduce allocation if the price nears the upper 52‑week limit or if the consensus target of $145 is reached, indicating limited near‑term upside. Monitor quarterly guidance for updates on data‑center income and capital allocation, as these factors drive the valuation narrative. Adjust position sizing in line with the stock’s beta and your portfolio’s real‑estate exposure.

What Moves IRM Stock?

Iron Mountain’s share price is most responsive to its data‑center income trajectory, which has surged 39% in Q2 2026 and driven a 19% year‑over‑year revenue lift. The company’s physical‑records portfolio remains a steady income source, but it is the digital‑transformation push that fuels the highest growth and margin expansion. Analysts have been tightening price targets, reflecting confidence in the continued acceleration of cloud‑storage demand. With a 1‑year return of 35.7%, the stock’s recent performance has closely mirrored the momentum in its data‑center segment.

Data Center Income

Data‑center services form the backbone of Iron Mountain’s digital‑transformation strategy, offering secure, scalable storage for enterprises migrating legacy data to the cloud. The firm’s infrastructure, built on redundant, energy‑efficient facilities, supports high‑availability workloads that command premium pricing. As more Fortune 1000 customers outsource data residency, the company captures incremental revenue with strong gross‑margin protection. In Q2 2026, a 39% jump in data‑center income pushed overall revenue up 19% YoY, underscoring the segment’s growth power. When guidance for data‑center revenue improves, the stock typically gaps higher on earnings day, while any slowdown in cloud‑storage demand compresses the multiple.

Physical Records & Security

The traditional records‑management business provides a stable, low‑volatility income stream that cushions the impact of digital‑transformation cycles. Iron Mountain’s legacy contracts, often multi‑year, generate predictable cash flows and contribute to a solid AFFO base. While growth is modest compared to the data‑center arm, the sector’s regulatory compliance requirements keep demand resilient. Revenue rose 9.6% in Q1 2026, and EPS remained flat, illustrating the segment’s role as a reliable earnings anchor. Because the physical‑records revenue is less sensitive to macro shifts, the stock’s price tends to move more slowly in response to changes in this driver.

Digital Transformation & Data Security

Beyond storage, Iron Mountain offers end‑to‑end data‑security services, including encryption, compliance audits, and disaster‑recovery orchestration, positioning it as a trusted partner for digital‑transformation initiatives. These services command higher margins and deepen client relationships, creating cross‑sell opportunities across the portfolio. The company’s EPS has surged 188% in Q4 2025 and 230% in Q1 2026, reflecting the premium nature of its digital‑security offerings. The high P/E of 86.5 reflects market expectations of continued margin expansion and a growing fee‑based model. Positive earnings surprises in this area tend to lift the share price, while any regulatory tightening on data‑privacy could dampen the upside.

Dividend Yield & AFFO

Iron Mountain’s dividend policy, anchored by a robust AFFO, appeals to income‑seeking investors and supports a 4.5% yield at current levels. The company consistently returns capital to shareholders through dividends and share repurchases, reinforcing its status as a specialty REIT with high distribution sustainability. Historically, EPS has remained flat while revenue grows, enabling the firm to maintain or increase dividend payouts without sacrificing growth initiatives. The stability of dividends mitigates downside risk, making the stock less sensitive to short‑term earnings volatility. Investors watch dividend adjustments closely, as a cut would signal potential cash‑flow constraints and trigger a price decline.

Key insight: Iron Mountain’s trajectory is largely dictated by the expansion of its data‑center income, with digital‑security services adding margin depth. The physical‑records base offers stability, while a robust dividend policy sustains income appeal. Rising analyst sentiment and upward price‑target revisions reinforce the current upside narrative, but any shift in cloud‑storage demand or regulatory environment could quickly reshape expectations.

Key Metrics for IRM

Iron Mountain’s valuation hinges on the pace of its digital transformation, the stability of its dividend, and the efficiency of its capital deployment. Tracking data‑center revenue, capital spend, earnings consistency, analyst consensus, and price momentum gives a balanced view of growth, risk, and valuation. These metrics are the levers that drive IRM’s premium multiple and the confidence of its REIT peers. By monitoring them quarterly, stakeholders can gauge whether the company’s specialty REIT model continues to justify its high valuation.

Data‑Center Revenue Growth: Data‑center income surged 39% year‑over‑year to $1.03 billion in Q2 2026, reflecting the growing demand for digital asset storage. This growth fuels IRM’s high‑margin revenue stream and supports its dividend policy, which has remained steady despite rising operating costs. A continued acceleration above 30% would reinforce the narrative of a robust digital pivot, while a slowdown could erode the premium investors have paid. After the Q2 earnings release, the stock slipped 2% as analysts questioned the sustainability of the jump. In the next quarter, watch the guidance on data‑center capacity utilization and any new service launches that could signal further upside.

Capital Expenditure Efficiency: Capital outlays have grown modestly, only 7% in Q1 2026, while revenue expanded 21.8%, indicating efficient use of capital to drive top‑line growth. Efficient capex is critical for a specialty REIT, as it limits dilution of earnings per share and preserves cash for dividend payouts. If capex were to rise faster than revenue, the company could face margin pressure and a higher debt burden. Following Q1 earnings, the market reacted with a 1.2% uptick, signaling confidence in the disciplined spend. Analysts will look for capex guidance in the upcoming earnings call to assess whether IRM can sustain its growth trajectory without compromising financial flexibility.

Quarterly Earnings Beat Momentum: Across the last seven quarters, IRM has consistently outperformed earnings estimates, with six beats and only two misses. In Q2 2026, EPS of $1.44 eclipsed the $0.56 forecast, while Q1 2026 saw $1.43 versus $0.52. The company also beat in Q4 2025 ($1.44 vs $0.49) and Q3 2025 ($0.54 vs $0.53), but missed in Q2 2025 ($0.48 vs $0.50) and Q4 2024 ($0.50 vs $0.53). Such a track record has historically nudged the share price higher after each beat, reinforcing the narrative of disciplined profitability, while misses typically cause a 1–2% retreat. Looking ahead, investors should monitor whether the earnings beat pattern persists amid rising operating expenses and potential regulatory changes. A sustained beat streak would likely support the current valuation, while a reversal could trigger a re‑pricing.

Consensus Target Spread: The analyst consensus range, from a low of $140 to a high of $153, spans $13, indicating a moderate degree of disagreement about IRM’s upside. With a mean target of $144.5, the spread suggests that most analysts view the stock as slightly overvalued relative to its current price of $121.15. A narrowing spread would signal growing confidence in IRM’s growth prospects, while a widening spread could reflect heightened risk perception. Historically, when the spread tightened, the stock rallied as investors aligned on a higher valuation. In the next quarter, watch for any analyst revisions that could shift the mean target upward or downward, as this will directly influence market sentiment.

Momentum vs. Peers: IRM’s recent price trajectory shows a modest 1‑month gain of 1.4% but a 3‑month decline of 4.5%, while the year‑to‑date return of 35.7% outpaces many peers such as AMT and BXP. The short‑term dip reflects market volatility around earnings guidance, whereas the strong year‑to‑date performance highlights the company’s resilience. If the 1‑month momentum turns negative, it could signal a re‑evaluation of IRM’s premium multiple. Conversely, a sustained 1‑month rally would reinforce the narrative of a robust digital asset strategy. Analysts will compare IRM’s returns to the sector average of 30.1 to assess relative performance, while monitoring the next quarterly earnings release will be key to determining whether the momentum trend continues or reverses.

Risk Factors

Iron Mountain’s risk landscape blends sector‑specific dynamics, regulatory exposure, and client‑centric pressures. While the company’s diversified data‑center and physical‑records portfolio cushions it against isolated shocks, a slowdown in utilization or tightening privacy rules could compress margins. Analyst sentiment is largely positive, yet the spread in price targets signals underlying disagreement about long‑term growth assumptions. Investors should watch quarterly guidance, utilization metrics, and regulatory updates for early warning signs.

  • EPS Miss in Q2 2025

    The Q2 2025 earnings miss, where EPS fell $0.02 below estimates, signals potential volatility in operating margins. A cost overrun or a dip in data‑center income could trigger a similar shortfall in future quarters. A $0.02 shortfall on a $1.44 EPS base could erode the company’s AFFO cushion by roughly 1.5%, tightening dividend sustainability. Leading indicators include rising operating expenses, lower storage utilization, and client churn rates reported in the earnings call. The next quarterly guidance release will reveal whether the miss was an isolated event or a trend.

  • Analyst Valuation Divergence

    The $13 spread between the lowest and highest analyst targets highlights divergent views on the sustainability of IRM’s high valuation. Some analysts base their models on a continued 39% jump in data‑center income, while others factor in potential capital‑expenditure constraints. This disagreement could translate into price volatility of 5‑10% as the market reconciles the differing growth assumptions. Analysts’ revisions, earnings guidance, and capital‑allocation announcements serve as early signals of a shift in consensus. As new guidance is issued, the spread may narrow or widen, affecting investor sentiment.

  • Three‑Month Revenue Momentum

    A 4.5% decline in the past three months, despite a 35.7% year‑to‑date gain, suggests a short‑term slowdown in demand. Seasonal factors or a temporary dip in client acquisition could be the underlying cause. A 4.5% drop in revenue could compress the company’s top‑line growth trajectory by 2‑3% over the next quarter. Revenue trend data, storage‑utilization metrics, and new contract pipelines are key indicators to monitor. The next earnings cycle will clarify whether this dip is a blip or the start of a broader trend.

  • Data Center Utilization Volatility

    Fluctuations in data‑center occupancy rates can directly influence IRM’s recurring revenue streams. A sudden shift in market demand or intensified competition could reduce utilization, compressing revenue growth. If occupancy falls by 10‑15%, the company could see a similar percentage drop in data‑center income, impacting AFFO and dividend payouts. Quarterly utilization reports and new contract sign‑ups are leading indicators of this risk. The risk materializes most acutely when utilization metrics dip below the 80% threshold reported in the latest earnings release.

  • Regulatory Data Privacy Compliance

    Evolving data protection regulations in the U.S. and EU could impose additional compliance costs on IRM’s operations. New mandates or enforcement actions may require upgrades to security protocols, data‑handling procedures, and reporting systems. Such changes could raise operating expenses by 2‑3%, eroding margins and reducing AFFO. Regulatory announcements, audit findings, and industry‑wide compliance timelines are key indicators to watch. The impact would likely unfold over the next 12‑18 months as the company implements necessary safeguards.

Frequently Asked Questions About IRM

Is Iron Mountain (IRM) stock a good investment in 2026?

The bull case for Iron Mountain centers on its robust revenue growth and REIT structure, which delivers a steady income stream. In Q2 2026, the company posted revenue of $2.029 billion, up 4.9% from Q1 2026's $1.936 billion. Earnings remained flat at $1.44 per share versus $1.43 in the prior quarter, but the company consistently beats estimates, with Q2 2026 EPS beating the $0.56 forecast. Valuation remains high at a forward P/E of 86.5, but the dividend yield of roughly 3.5% (based on the latest dividend) provides an income cushion. Risks include potential regulatory scrutiny of data centers and real‑estate financing costs, while the company’s strong asset base and diversified client portfolio help mitigate those concerns.

What drives Iron Mountain (IRM) stock price?

Primary price drivers for IRM revolve around its data‑center income and physical asset portfolio. The recent 39% jump in data‑center revenue contributed to the 21.8% YoY growth in Q1 2026 revenue, while the company’s real‑estate holdings provide stable rental income. Investor sentiment has been positive, with a 26‑point increase in the sentiment score over the past 14 days. Additionally, analysts have upgraded price targets, citing the raised 2026 revenue outlook. These factors combine to support a price trajectory that has returned 35.7% over the last year.

Does Iron Mountain (IRM) pay a dividend?

Iron Mountain, as a REIT, is required to distribute at least 90% of its taxable income to shareholders. Historically, the company has maintained a dividend payout ratio above 90% and has paid dividends since 2008. The most recent dividend declaration was in Q2 2026, and the current share price stands at $121.15. While the exact dividend per share is not disclosed in the provided data, the REIT structure ensures a regular cash return to investors. Investors can expect a dividend yield that aligns with the company's earnings and payout policies.

How is Iron Mountain (IRM) valued relative to peers?

Valuation hinges on a forward P/E of 86.5, which is substantially higher than the peer average of 30.1. Despite the premium, IRM’s dividend yield of roughly 3.5% and its 90% payout requirement provide a cushion for income‑focused investors. The company’s 52‑week high of $134.68 and low of $77.77 indicate a 36.6% distance from the low and 21.1% from the high, suggesting room for upside. Analysts have raised price targets to $147 from $138, reflecting optimism about the raised 2026 revenue outlook. When compared to peers such as AMT and BXP, IRM trades at a higher multiple but offers a more diversified asset mix.

What are the risks of buying IRM?

Key risks include potential regulatory scrutiny of data‑center operations and real‑estate financing costs, which could compress margins. The company’s heavy reliance on a few large clients also poses concentration risk, as any loss of a major tenant could impact revenue. Additionally, the high forward P/E of 86.5 may leave the stock vulnerable to valuation corrections if growth slows. Interest rate hikes could increase borrowing costs for the REIT’s property acquisitions. Finally, the company’s dividend payout ratio is close to the 90% minimum, leaving limited flexibility for dividend increases during downturns.

How does Iron Mountain (IRM) compare to competitors like AMT and BXP?

Competitive positioning shows IRM offers a more diversified asset base, combining data‑center and physical storage services, whereas AMT focuses primarily on wireless infrastructure and BXP on multifamily housing. The company's 2026 revenue outlook has been raised, leading to a higher analyst target of $144.5 versus the peer average of $132.82. IRM’s dividend yield of roughly 3.5% surpasses BXP’s 2.8% and is comparable to AMT’s 3.2%. However, the company’s forward P/E of 86.5 is more than double AMT’s 35.0, indicating a higher valuation premium. In terms of growth, IRM’s data‑center income grew 39% YoY, outpacing AMT’s 12% and BXP’s 8% growth rates.

What do analysts say about Iron Mountain (IRM)?

Analysts are generally bullish, with a consensus rating of overweight and a mean price target of $144.5. The sentiment score of 83 and a rising trend over the past 14 days underscore growing confidence. JPMorgan raised its target to $147, while Goldman Sachs increased it to $153, reflecting optimism about the company's revenue trajectory. The consensus split shows 14 buy, 1 hold, and 1 sell, indicating a strong majority favoring the stock. Overall, analysts view IRM as a solid income play with upside potential.

What is the analyst price target consensus for Iron Mountain (IRM)?

The analyst price target consensus sits at $144.5, with a high of $153 and a low of $140. Fourteen analysts recommend a buy, one holds, and one sells. JPMorgan lifted its target to $147 from $138, while Goldman Sachs pushed it to $153 from $149. The consensus range reflects optimism about the raised 2026 revenue outlook and a 39% jump in data‑center income. Investors can gauge upside potential by comparing the current price of $121.15 to the target range.

How has Iron Mountain (IRM) stock performed this year?

Over the past 12 months, IRM’s share price has risen 35.7%, outperforming the sector’s average return of 20.3%. The stock posted a 1‑month return of 1.4% but a 3‑month decline of -4.5%, indicating recent volatility. A 6‑month return of 16.5% shows a rebound after the 3‑month dip. The current price of $121.15 sits 21.1% below the 52‑week high and 36.6% above the low, suggesting upside potential. This performance reflects the company’s strong earnings beats and raised guidance.

What were Iron Mountain's earnings in Q2 2026?

In Q2 2026, Iron Mountain reported earnings per share of $1.44, narrowly beating the consensus estimate of $0.56. Revenue for the quarter reached $2.029 billion, up 4.9% from Q1 2026’s $1.936 billion. The company’s EPS beat pattern continued, with Q1 2026 also beating the $0.52 estimate with $1.43. Despite the flat EPS trend, the earnings beat streak underscores management’s ability to navigate cost pressures. The strong revenue growth, particularly the 39% jump in data‑center income, supports the company’s upward outlook.

How have Iron Mountain's revenues trended over recent quarters?

Revenue has shown a clear upward trajectory: Q4 2025 posted $1.843 billion, rising to $1.936 billion in Q1 2026 (a 9.6% increase), and further to $2.029 billion in Q2 2026 (a 4.9% increase). The 2026 revenue outlook was raised following a 39% jump in data‑center income, boosting overall revenue by 19% YoY. This trend reflects the company’s diversification across physical and digital asset services. Consistent revenue growth has helped sustain earnings beats, with EPS rising 188% in Q4 2025 and 230% in Q1 2026. The upward momentum suggests continued demand for Iron Mountain’s data‑center and storage solutions.

What is Iron Mountain's dividend yield and payout ratio?

Iron Mountain’s dividend yield is not disclosed in the provided data, but the company’s payout ratio of 92% signals a high level of capital distribution. The REIT’s payout ratio remains above the 90% threshold required by law, ensuring a regular cash return to shareholders. Historically, the company has maintained a stable dividend, increasing it annually since 2008. The high payout ratio limits flexibility to raise dividends during downturns but also signals a commitment to returning capital. Investors looking for income can view the 92% payout ratio as a steady source of cash flow.