Iron Mountain: Unlikely To Trade Higher Than Today
Summary
- Iron Mountain Incorporated is a data storage REIT with two segments: data centers and paper storage facilities.
- The stock has outperformed other data center REITs and the broader REIT index despite the decline in service revenue growth.
- The company's high leverage, poor balance sheet, and slowing growth do not justify its premium valuation, which leads me to believe that now is a good time to sell.
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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