Iron Mountain jumps after Q1 results beat expectations and outlook is raised

Iron Mountain (IRM) is up 7.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The move higher appears tied to a strong first-quarter 2026 earnings release featuring record performance across key metrics, including AFFO, alongside an increase to full-year 2026 guidance. Investors also reacted to continued momentum in the company’s higher-growth businesses, particularly data centers, digital, and asset lifecycle management.

Details:

Iron Mountain reported first-quarter 2026 revenue of about $1.94 billion, up roughly 22% year over year, alongside higher profitability metrics such as Adjusted EBITDA.

The company generated AFFO of about $426 million (roughly $1.43 per share), up more than 20% versus the prior-year quarter, supporting the narrative of accelerating cash-flow generation.

Management increased full-year 2026 financial guidance, signaling confidence that demand trends and execution remain strong after the quarter’s results.

The board declared a quarterly cash dividend of $0.864 per share for the second quarter, reinforcing the stock’s income appeal for REIT-focused investors.

Sources:

MarketScreener, StreetInsider, RTTNews

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$IRM Insider Trading Activity

$IRM insiders have traded $IRM stock on the open market 41 times in the past 6 months. Of those trades, 1 have been purchases and 40 have been sales.

Here’s a breakdown of recent trading of $IRM stock by insiders over the last 6 months:

WILLIAM L MEANEY (President and CEO) has made 0 purchases and 27 sales selling 686,788 shares for an estimated $70,793,507.
MITHU BHARGAVA (EVP, GM Digital Business Unit) has made 0 purchases and 5 sales selling 59,725 shares for an estimated $6,248,238.
MARK KIDD (EVP, GM Data Centers & ALM) has made 0 purchases and 7 sales selling 43,306 shares for an estimated $4,269,150.
JENNIFER ALLERTON sold 7,000 shares for an estimated $762,160
CHRISTIE B. KELLY purchased 33 shares for an estimated $2,954

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

$IRM Hedge Fund Activity

We have seen 441 institutional investors add shares of $IRM stock to their portfolio, and 494 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 12,644,276 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $1,048,842,694
COHEN & STEERS, INC. added 3,155,034 shares (+20.0%) to their portfolio in Q4 2025, for an estimated $261,710,070
PRINCIPAL FINANCIAL GROUP INC added 1,680,438 shares (+66.5%) to their portfolio in Q4 2025, for an estimated $139,392,332
PICTET ASSET MANAGEMENT HOLDING SA removed 1,431,228 shares (-62.3%) from their portfolio in Q1 2026, for an estimated $146,185,627
BLACKROCK, INC. added 1,210,594 shares (+3.8%) to their portfolio in Q4 2025, for an estimated $100,418,772
CITADEL ADVISORS LLC added 1,058,080 shares (+1726.3%) to their portfolio in Q4 2025, for an estimated $87,767,736
ROYAL BANK OF CANADA removed 1,013,112 shares (-44.1%) from their portfolio in Q4 2025, for an estimated $84,037,640

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$IRM Government Contracts

We have seen $11,159,941 of award payments to $IRM over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

FUNDING FOR ENTERPRISE DIGITIZATION PHASE III: $5,958,280
DATA CENTER COLOCATION SERVICES: $1,763,306
RECORDS MANAGEMENT SERVICES FOR THE VBA OFFICE OF BUSINESS INTEGRATION.: $1,383,355
DATA CENTER RELOCATION REVISED SOO AND DOCUMENTS BASED ON OPTION PERIOD #1 NOT BEING EXECUTED IN TIME ACQ-2...: $1,113,659
OFF-SITE RECORDS STORAGE, SCANNING, DIGITIZATION AND PAPER SHREDDING AT ICE FACILITIES.: $308,193

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$IRM Congressional Stock Trading

Members of Congress have traded $IRM stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $IRM stock by members of Congress over the last 6 months:

SENATOR MARKWAYNE MULLIN has traded it 3 times. They made 0 purchases and 3 sales worth up to $80,000 on 02/04, 12/18.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API.

$IRM Analyst Ratings

Wall Street analysts have issued reports on $IRM in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Overweight" rating on 11/12/2025
JP Morgan issued a "Overweight" rating on 11/06/2025

To track analyst ratings and price targets for $IRM, check out Quiver Quantitative's $IRM forecast page.

$IRM Price Targets

Multiple analysts have issued price targets for $IRM recently. We have seen 3 analysts offer price targets for $IRM in the last 6 months, with a median target of $127.0.

Here are some recent targets:

Eric Luebchow from Wells Fargo set a target price of $135.0 on 04/21/2026
Brendan Lynch from Barclays set a target price of $127.0 on 02/23/2026
Andrew Steinerman from JP Morgan set a target price of $111.0 on 11/06/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.