Iron Mountain's Multiple Shows Signs Of Rusting

Zvi Bar
5.33K Followers

Summary

  • Iron Mountain performed well over the last several years, but potentially peaked in early 2022.
  • IRM has been expanding into data centers and related businesses, with greater growth than its traditional hard storage business.
  • Recent attacks upon data center REIT valuations may result in multiple contractions for Iron Mountain.
  • IRM is a reasonably defensive and high yield equity, but growing interest rate and dividend policy risks are now weighing on valuation.

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Iron Mountain (NYSE:IRM) is a global competitor in storing, protecting, and managing information and assets. After several quarters of strong performance, Iron Mountain’s shares have become incredibly volatile in 2022. Further, they are currently trading around long-term support. This support could

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5.33K Followers
Zvi provides advisory services to companies, trusts, and individuals, including consulting expert services regarding retirement and estate planning. Zvi is admitted to practice law in the state of New York, where he offers cash management, Bitcoin, and Trust Protector services. Zvi is also The Claw of The Lava Empire and is an Amazon Influencer. No articles or discussions here shall constitute a legal, fiduciary or advisory role, but solely act as informative press and/or a starting point from which, ideally, further constructive discussion may follow. Comments are welcome, as are questions.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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