Sat, Jan. 24, 8:25 AM
- In a low-yield world, the newly launched iBillionaire High Dividend Index - which tracks the trading moves of 25 investing-savvy billionaire investors such as Stanley Druckenmiller, James Dinan and Nelson Peltz - actually lives up to its name with a dividend yield of 5.34%.
- At 24%, the index has a high allocation of energy shares, including OXY, TRP, CNP, COP, BP, ATLS, CVI, WMB, APL, RIG and ARP.
- Also worth noting is that the index contains some high-yielding mortgage REITs, an area most investors hate right now but where billionaires seem to find value; examples are NRF, AGNC and CIM.
- No mutual fund or ETF tracks this index, but it offers a fishing pond of income investment ideas to research further.
- The top 20 holdings: TLM, CVC, GM, TIME, AEE, D, STAY, KMI, TROX, EXC, STNG, PPL, IRM, PFE, KKR, KAR, F, MIC, LO, ABBV.
Dec. 21, 2014, 1:09 PM
- Iron Mountain (NYSE:IRM) will pay $44.5M to "resolve a civil complaint regarding pricing issues associated with Records Management, Data Management and Secure Shredding services that the company provided under U.S. General Services Administration (GSA) Multiple Award Schedule contracts."
- The company has also "agreed to small settlements with certain State of California entities." Last year, Iron Mountain agreed to pay $800K to settle a whistleblower suit alleging it didn't follow government rules for the shredding of documents.
Dec. 15, 2014, 7:59 AM
- Recall Holdings rejects Iron Mountain’s (NYSE:IRM) A$2.2B (US$1.8B) takeover bid as too low but says it is open to further discussions if it receives a fresh offer.
- Recall says the A$7/share offer, a premium of 9.4% to Friday's closing price, does not reflect the company’s fundamental value and does not offer its shareholders a fair slice of the potentially US$3.9B in value that could be created through a merger.
Nov. 3, 2014, 10:24 AM
- To satisfy tax rules related to its pending REIT conversion, Iron Mountain (IRM +0.9%) is distributing $700M ($3.61/share) in cash and stock.
- The distribution is payable on Nov. 4 to shareholders on record as of Sep. 30. Shareholders can either receive the payment entirely in stock, or through a mixture of stock and a $1.04/share cash payment.
- The storage management services firm will issue 15.8M shares as part of the distribution, thereby boosting its share count by 8%.
Oct. 30, 2014, 6:51 AM
Oct. 14, 2014, 6:38 PM
- In a business update detailing its 2014 M&A activity, Iron Mountain (NYSE:IRM) discloses it has bought Keepers Brazil, a provider of record and data protection services for 300+ clients.
- IRM notes Keepers "stores and manages 1.4 million boxes and more than 95,000 tapes across five facilities in Sao Paulo," and that the Brazilian records-management market is "expected to continue to grow in the high single digits annually for the next three to five years."
- Altogether, the company has spent $150M on international acquisitions this year - that figure that includes the buyout of various international JV partners and the purchase of Czech records-management firm ALCZ.
- Bloomberg reported in September IRM is looking to buy Australia's Recall Holdings.
Sep. 29, 2014, 5:36 PM
Sep. 29, 2014, 2:06 PM
- A source tells Bloomberg Iron Mountain (IRM +6.2%) may buy Recall Holdings for $2B-$2.5B. That would represent a hefty premium to Recall's current $1.37B market cap.
- Bloomberg also reports "nothing has been decided and the talks may still fall apart." Wooden pallet maker Brambles reportedly drew bids in the $2B range when it put Recall on the block in 2012; it ultimately decided to spin off the business.
- Earlier: Iron Mountain reportedly looking to buy Recall
Sep. 29, 2014, 1:44 PM
- Australia's Recall Holdings, publicly traded in Sydney, is a major rival for Iron Mountain's (IRM +5.1%) document management/data protection business. The company closed overnight trading with a $1.38B market cap.
- Bloomberg reports Iron Mountain is working with Evercore to buy Recall. Shares have popped in response.
Sep. 26, 2014, 12:45 PM
Jul. 31, 2014, 6:06 AM
Jun. 26, 2014, 12:45 PM
Jun. 26, 2014, 9:17 AM
Jun. 25, 2014, 5:42 PM
Jun. 25, 2014, 4:11 PM
- Following favorable private letter rulings from the IRS, Iron Mountain's (IRM) board has approved the company's conversion into a REIT. REIT status is effective for the taxable year starting Jan. 1, 2014.
- The IRS rulings include one related to "the characterization of the company's steel racking structures as real estate for REIT purposes under the Internal Revenue Code." Back in 2013, the IRS said it was "tentatively adverse" to IRM's REIT conversion.
- Equinix (EQIX), awaiting a REIT ruling of its own, has ticked higher AH.
May. 28, 2014, 5:33 PM| Comment!
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Iron Mountain Inc is a global provider of information protection and storage services. The reportable operating segments of the Company are North American Business, International Business and Corporate.
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