Iron Mountain Incorporated (IRM) Stock

IRM benefits from solid cash flows in its storage and records management sector, along with a focus on data centers. However, competition and high interest rates pose challenges.

IRM has purchased sites for data center development in Richmond, VA, and Manassas, VA, to enhance its worldwide data center collection.

Iron Mountain, a leading company in information management services, has purchased two data center development sites in Virginia to enhance its growth in the data center market. This acquisition adds over 100 acres to their portfolio and is expected to provide more than 350 megawatts of future capacity. As a result, the company's total data center capacity will significantly increase.

Iron Mountain Incorporated (NYSE:IRM) will be participating in the JPMorgan Ultimate Services Investor Conference on November 14, 2024, at 1:50 PM ET. The company's Chief Financial Officer, Barry Hytinen, will be present. Alex Hess from JPMorgan, part of the equity research team, will also be joining the call.

IRM is expected to benefit from strong cash flows generated by its storage and records management services, the growth of its data center operations, and a solid financial position.

To be a successful investor, you need to think more deeply than just using basic formulas, as Howard Marks explains in "The Most Important Thing." Iron Mountain has changed from document storage to cloud storage and saw great returns, but its stock is now too high-priced, so it's a good time to sell. On the other hand, Sun Communities is undergoing changes in management and structure, making it a good buying opportunity with the possibility of 30% annual returns, even though its earnings may drop in the short term.

IRM's results for the third quarter show an increase in revenue and adjusted EBITDA compared to the same period last year.

IRM's Q3 results show an increase in revenues compared to last year, supported by strong performance in storage, services, and the data-center sector.

While the revenue and earnings per share (EPS) for Iron Mountain (IRM) provide insight into its performance for the quarter ending September 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.