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Iron Mountain - Government Trades

Iron Mountain

Iron Mountain Inc is a record management services provider. It is organized as a REIT. Most of its revenue comes from its storage business, with the rest coming from value-added services. The firm primarily caters to enterprise clients in developed markets. Its business segments include Global RIM Business; Global Data Center Business; and Corporate and Other Business.

Iron Mountain Incorporated

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Iron Mountain reported a total revenue increase of 12.2% compared to the prior year, driven by a 9% increase in storage rental revenue and a 17.2% increase in service revenue.

What&#39;s Going On With Iron Mountain Shares After Q1 Earnings?

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The S&amp;P 500 notched a marvelous rally in the first three months of 2024, banking on AI optimism and hopes that the Federal Reserve will cut interest rates in the second half of this year.

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Wall Street watches a company&#39;s quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.

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Iron Mountain Inc reported 11% revenue growth in Q4, missing consensus estimate. Storage rental revenue grew 13%, adjusted EBITDA margin expanded. Dividend declared, FY24 outlook below consensus.

Specialized REIT Iron Mountain Clocks Strong Earnings Growth in Q4, Eyes Expansion with Project Matterhorn

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Iron Mountain Incorporated (Delaware)Common Stock REIT

Iron Mountain Inc

iRadimed Corp

IR-Med Inc

INFORMATION SVCS CORP ORD by Information Svcs Corp

Information Services Corp

Iron Mountain's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) short percent of float has risen 17.24% since its last report. The company recently reported that it has 12.47 million shares sold short, which is 5.1% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.33 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Iron Mountain Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1719597622_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Iron Mountain has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Iron Mountain's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Iron Mountain's peer group average for short interest as a percentage of float is 5.10%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Looking Into Iron Mountain's Recent Short Interest

Goldman Sachs analyst George Tong maintains Iron Mountain (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) with a Buy and raises the price target from $89 to $101.

Price Target

Analyst Ratings

Goldman Sachs Maintains Buy on Iron Mountain, Raises Price Target to $101

As of June 17, 2024, four stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Essex Property Trust Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>)</h3>
<ul>
<li>On June 14, Scotiabank analyst Nicholas Yulico maintained Essex Property Trust with a Sector Outperform and raised the price target from $283 to $285. The company's stock gained around 4% over the past five days and has a <a href="https://www.benzinga.com/quote/ESS">52-week high of $279.09</a>.</li>
<li>RSI Value: 71.28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>ESS Price Action: Shares of Essex Property Trust rose 1.2% to close at $278.50 on Friday.</li>
</ul>
<h3 class="wp-block-heading">InnSuites Hospitality Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHT#NYSE">IHT</a>)</h3>
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<li>On Jan. 8, InnSuites Hospitality Trust announced a semi-annual dividend of 1 cent per share after clocking December revenue of $0.52 million. The company's stock gained around 31% over the past month and <a href="https://www.benzinga.com/quote/IHT">has a 52-week high</a> of $3.62.</li>
<li>RSI Value: 78.37</li>
<li>IHT Price Action: Shares of InnSuites Hospitality Trust fell 2.2% to close at $1.75 on Friday.</li>
</ul>
<h3 class="wp-block-heading">Iron Mountain Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>)</h3>
<ul>
<li>On May 2, the company, under the helm of CEO William Meaney, reported first-quarter adjusted earnings per share of 43 cents. Quarterly revenue of $1.477 billion, beating the street view of $1.453 billion. Iron Mountain declared a quarterly cash dividend of 65 cents per share for the second quarter, which is payable on July 5, 2024, for shareholders of record on June 17, 2024. The company's stock gained around 7% over the past month and has a <a href="https://www.benzinga.com/quote/IRM">52-week high</a> of $89.91.</li>
<li>RSI Value: 74.06</li>
<li>IRM Price Action: Shares of Iron Mountain gained 0.3% to close at $88.02 on Friday.</li>
</ul>
National Storage Affiliates Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSA#NYSE">NSA</a>)
<ul>
<li>On May 1, National Storage posted weaker-than-expected quarterly sales. The company's stock jumped around 6% over the past five days and has a 52-week high of $42.54.</li>
<li>RSI Value: 73.81</li>
<li>NSA Price Action: Shares of National Storage Affiliates Trust gained 0.4% to close at $40.85 on Friday.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/06/39331770/wall-streets-most-accurate-analysts-weigh-in-on-3-tech-stocks-with-over-3-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Tech Stocks With Over 3% Dividend Yields</a>

Iron Mountain (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) has outperformed the market over the past 5 years by 9.46% on an annualized basis producing an average annual return of 22.63%. Currently, Iron Mountain has a market capitalization of $26.24 billion. 
Buying $100 In IRM: If an investor had bought $100 of IRM stock 5 years ago, it would be worth $276.41 today based on a price of $89.53 for IRM at the time of writing.
<h3>Iron Mountain's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718200886_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 5 Years Ago, You Would Have $300 Today

It was reported on May 8, that Wendy J Murdock, Board Member at Iron Mountain (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) executed a significant insider sell, according to an SEC filing.
What Happened: After conducting a thorough analysis, Murdock sold 3,547 shares of Iron Mountain. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0001020569/000102056924000134//Archives/edgar/data/1020569/000102056924000134/0001020569-24-000134-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday. The total transaction value is $275,247.
Iron Mountain's shares are actively trading at $76.0, experiencing a down of 2.61% during Thursday's morning session.
<h3>Get to Know Iron Mountain Better</h3>
Iron Mountain Inc is a record management services provider. It is organized as a REIT. Most of its revenue comes from its storage business, with the rest coming from value-added services. The firm primarily caters to enterprise clients in developed markets. Its business segments include Global RIM Business; Global Data Center Business; and Corporate and Other Business.
<h3>Understanding the Numbers: Iron Mountain's Finances</h3>
Revenue Growth: Iron Mountain displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 12.36%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Real Estate sector.
Profitability Metrics:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 55.77%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Iron Mountain's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.25.
</li>
</ul>
Debt Management: With a high debt-to-equity ratio of 821.84, Iron Mountain faces challenges in effectively managing its debt levels, indicating potential financial strain.
In-Depth Valuation Examination:
<ul>
<li>
Price to Earnings (P/E) Ratio: Iron Mountain's current Price to Earnings (P/E) ratio of 118.24 is higher than the industry average, indicating that the stock may be overvalued according to market sentiment.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 4.07, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): A high EV/EBITDA ratio of 22.5 positions the company as being more valued compared to industry benchmarks.
</li>
</ul>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
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<h3>The Impact of Insider Transactions on Investments</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>The Insider's Guide to Important Transaction Codes</h3>
Examining transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> often concentrate on those unfolding in the open market, meticulously detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S signifies a sale. Transaction code C indicates the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0001020569">Check Out The Full List Of Iron Mountain's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Insider Transaction: Wendy J Murdock Sells $275K Worth Of Iron Mountain Shares

Iron Mountain Incorporated&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) reported first-quarter financial results Thursday before the bell,&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">following&nbsp;which the shares started soaring.</a>&nbsp;Here&#8217;s a look at the<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/b38576736/iron-mountain-reports-first-quarter-results" rel="noreferrer noopener">&nbsp;key metrics from the quarter</a>.
Q1 Earnings Details: The company, under the helm of CEO William Meaney, reported first-quarter adjusted earnings per share of 43 cents. Quarterly revenue of $1.477 billion, beating the street view of $1.453 billion.
Total reported revenues increased 12.2% compared to the prior year. This was driven by a 9% increase in storage rental revenue and a 17.2% increase in service revenue.
On a constant currency basis, adjusted EBITDA increased by 12.5% in the first quarter, compared to the first quarter of 2023, driven by the increase in storage rental revenue, ALM improvement and data center commencements.
AFFO was $323.7 million for the first quarter, compared with $295.2 million in the first quarter of 2023, an increase of 9.6% driven by improved Adjusted EBITDA.
Dividend: Iron Mountain declared a quarterly cash dividend of 65 cents per share for the second quarter, which is payable on July 5, 2024, for shareholders of record on June 17, 2024.
Outlook:&nbsp;Iron Mountain affirmed full-year 2024 guidance and&nbsp;sees&nbsp;revenues between $6 billion-$6.15 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">versus the $6.09 billion estimate.</a>
The company expects AFFO per share of $4.39-$4.51.
Price Action: IRM shares are trading down by 1.8% to $76.68 at last check Thursday.
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38584705/federal-reserve-takes-cautious-stand-on-inflation-powell-signals-preference-for-r">Federal Reserve Takes Cautious Stand On Inflation, Powell Signals Preference For Rate Cuts Over Hikes</a>
Image:

What's Going On With Iron Mountain Shares After Q1 Earnings?

Iron Mountain affirmed full year 2024 guidance; details are summarized in the table below.
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="4" rowspan="1">2024 Guidance(1)</td>
</tr>
<tr>
<td colspan="2" rowspan="1">($ in millions, except per share data)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">2024 Guidance</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
Y/Y % Change
at Midpoint
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Total Revenue</td>
<td colspan="1" rowspan="1">$6,000 - $6,150</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">11%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA</td>
<td colspan="1" rowspan="1">$2,175 - $2,225</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">12%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">AFFO</td>
<td colspan="1" rowspan="1">$1,300 - $1,335</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">9%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">AFFO Per Share</td>
<td colspan="1" rowspan="1">$4.39 - $4.51</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">8%</td>
</tr>
</tbody>
</table>
</figure>

Iron Mountain Reiterates Guidance

Iron Mountain (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) reported quarterly earnings of $0.43 per share which beat the analyst consensus estimate of $0.42 by 2.38 percent. The company reported quarterly sales of $1.48 billion which beat the analyst consensus estimate of $1.45 billion by 1.63 percent. This is a 12.40 percent increase over sales of $1.31 billion the same period last year.

Earnings Beats

Iron Mountain Q1 2024 Adj EPS $0.43 Beats $0.42 Estimate, Sales $1.48B Beat $1.45B Estimate

The S&amp;P 500 notched a marvelous rally in the first three months of 2024, banking on AI optimism and hopes that the Federal Reserve will cut interest rates in the second half of this year.
However, the broader index has experienced a topsy-turvy ride so far this month. This is because of a hotter-than-expected rise in consumer prices and an uptick in wholesale prices that dampened the chances of any rate cuts soon.
Even though the prices of indispensable goods and services dropped significantly from their peak of 9.1% in June 2022, they remain well above the coronavirus pandemic mark.
The Labor Department noted that the consumer price index increased 0.4% month over month in March and rose 3.5% from a year ago, the biggest gain in six months. Analysts had projected a gain of 0.3% sequentially and an increase of 3.4% year over year.
The increase in gasoline and shelter costs largely contributed to the rise in consumer prices. Wholesale prices also heated up last month. In the 12 months ending in March, the producer price index increased 2.1%, up from February&#39;s gain of 1.6%. An increase in service prices mostly drove wholesale prices higher, added the Labor Department.
Needless to say, an increase in price pressures will compel the Fed to hold rates steady, which are already at record highs. Higher rates curtail consumer outlays, jack up borrowing costs, derail economic growth and lead to gyration in the stock market.
The S&amp;P 500, thus, has retreated more than 1% so far in April despite ending the last trading session in the green. In reality, the S&amp;P 500 was tantalizingly close to its 50-day moving average (DMA) on Apr 11.
While trading at its session low on Thursday, the S&amp;P 500 was within 33 points of its 50 DMA. It was the closest level the index had reached to its 50 DMA since Nov 2, per FactSet data.
Lest we forget that if the index had fallen below the 50 DMA, it was destined to decline further. Hence, in such a precarious scenario, astute investors should play safe and invest in stocks such as Iron Mountain Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/irm#NYSE">IRM</a>), Organon &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ogn#NYSE">OGN</a>) and International Business Machines Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ibm#NYSE">IBM</a>).
These stocks carry a low beta (ranges from 0 to 1), making them immune to market upheavals. They also provide dividends, a tell-tale sign that they have a sound business model that helps them counter market vagaries. They have a Zacks Rank #1 (Strong Buy) or 2 (Buy).
Iron Mountain provides records &amp; information management services. The company has a beta of 0.94 and a Zacks Rank #1.
IRM has a dividend yield of 3.4% and a 5-year dividend yield of 6.2%. The Zacks Consensus Estimate for its current-year earnings has moved up 4.5% over the past 60 days. The company&#39;s expected earnings growth rate for the current year is 7.3%.
Organon is a healthcare company. The company has a beta of 0.83 and a Zacks Rank #1.
OGN has a dividend yield of 6.2% and a 5-year dividend yield of 4.5%. The Zacks Consensus Estimate for its current-year earnings has moved up nearly 1% over the past 60 days. The company&#39;s expected earnings growth rate for the current year is 2.4%.
International Business Machines has evolved as a provider of cloud and data platforms. The company has a beta of 0.7 and a Zacks Rank #2.
IBM has a dividend yield of 3.6% and a 5-year dividend yield of 4.9%. The Zacks Consensus Estimate for its current-year earnings has moved up 0.3% over the past 60 days. The company&#39;s expected earnings growth rate for the current year is 4.7%.
Shares of Iron Mountain, Organon, and International Business Machines have gained 9.5%, 26.8%, and 13.7%, respectively, year to date.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6b/64866.jpg?v=468163638" />
Image Source: Zacks Investment Research
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Shares of REITs are trading lower as Treasury yields rise following March inflation data. A rise in yields has pressured income-paying stocks.

Investors looking over the vast number of real estate investment trusts (REITs) are sometimes confused as to which ones will most likely create both appreciation and a good dividend return over time. The combination of these two performance matrices creates the "total return" of the REIT.
Many REITs perform well for short periods but do not sustain those results over a longer period. With the headwinds of COVID-19, inflation and increases in interest rates over the past five years, it hasn't been an easy time for the REIT sector in general.
However, some individual REITs have withstood the headwinds and captured excellent gains. Take a look at four REITs with double-digit total returns over the past three- and five-year time frames.
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Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) is a Portsmouth, New Hampshire-based specialty REIT with a focus on information management and storage, data center infrastructure and asset lifecycle management. Iron Mountain was founded in 1951 and has more than 240,000 customers worldwide. In recent years, it has shifted its focus from paper storage to data storage.&nbsp;
On Feb. 22, Iron Mountain reported its fourth-quarter operating results. Funds from operations (FFO) of $0.83 per share beat the consensus estimate of $0.81 and its FFO of $0.74 per share in the fourth quarter of 2022. Revenue of $1.42 billion beat the fourth-quarter 2022 revenue of $1.28 billion but could not meet the analyst estimates of $1.45 billion.
On March 15, Wells Fargo analyst Eric Luebchow maintained an Overweight position on Iron Mountain and raised the price target from $80 to $90. Barclays' analyst Brendan Lewis also has an Overweight position from early March on Iron Mountain, with a $91 price target.
Iron Mountain's three- and five-year total returns are 129.4% and 150.54% respectively.
Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly called Tanger Factory Outlet Centers Inc., is a Greensboro, North Carolina-based retail REIT that owns, coowns or manages 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3,000 stores across 20 states and in Canada. Tanger Factory Outlet Centers was founded in 1981 and had its initial public offering (IPO) in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%.
On Feb. 15, Tanger reported excellent fourth-quarter operating results. FFO of $0.52 beat the estimate of $0.50. Revenue of $127.48 million beat the estimate of $119.04 million and was 9.46% above revenue from the fourth quarter of 2022 of $116.46 million. Additionally, full-year core FFO was announced in a range from $2.01-$2.09 per share, with a midpoint above the analyst consensus estimate of $2.03 per share.&nbsp;
<h2 class="wp-block-heading">Trending</h2>
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On April 5, Bank of America Securities analyst Jeffrey Spector upgraded Tanger from Underperform to Neutral and raised the price target 29.1% from $24 to $31. On March 22, Citigroup analyst Michael Bilerman also upgraded Tanger from Neutral to Buy and raised the price target from $30 to $33.&nbsp;
Tanger's three- and five-year total returns are 94.41% and 56.76%, respectively.
Plymouth Industrial REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLYM#NYSE">PLYM</a>) is a Boston-based industrial REIT that owns and operates 156 properties with over 34 million square feet in 13 East Coast and Midwestern markets. Its portfolio occupancy as of Dec. 31, was 98.6%. During the fourth quarter of 2023, it leased an aggregate of 966,167 square feet, with a 23.4% increase in rental rates on a cash basis from these leases.
In 2023, Plymouth outperformed larger and more well-known industrial REITs such as Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) and Rexford Industrial Realty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>). Still, this smaller REIT receives far less publicity than its rivals.&nbsp;&nbsp;
On Feb. 21, Plymouth reported its fourth-quarter operating results. Adjusted FFO (AFFO) of $0.48 per share was a 14.29% increase over AFFO of $0.42 in the fourth quarter of 2022. Revenue of $50.75 million missed the Street's estimate of $50.91 million but topped its revenue of $47.32 million in the fourth quarter of 2022.
Plymouth Industrial also announced an increase in its quarterly dividend from $0.225 per share to $0.24 per share. The $0.96 per share annual dividend presently yields 4.48%.&nbsp;
On&nbsp; March 27, Barclays analyst Brendan Lynch initiated coverage on Plymouth Industrial REIT with an Equal-Weight rating and announced a price target of $22.
On April 2, Plymouth Industrial reported on its leasing activity for the first quarter of 2024. Over 1.3 million square feet of space with terms of at least six months was leased with a 17.1% increase in rental rates. These included both renewals and new leases. Total same-store occupancy at the end of the first quarter was 98.3%.
Plymouth Realty's three- and five-year total returns are 39.62% and 58.28%, respectively.
Lamar Advertising Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is a Baton Rouge, Louisiana-based specialty REIT, founded in 1902 with a focus on owning and leasing 363,000 displays throughout the U.S. and Canada, including digital and print billboards, interstate logos and airport advertising formats. Lamar Advertising and Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) are the only two REITs exclusively devoted to billboard and display advertising.
On Feb. 23, Lamar Advertising reported its fourth-quarter results. FFO of $1.46 per share beat the estimate of $1.35 per share and was 124.62% better than its fourth-quarter 2022 FFO of $0.65 per share. Revenue of $555.91 million topped the estimate of $547.66 million and also bested its revenue of fourth-quarter 2022 revenue of $535.51 million.
On Feb. 26, Morgan Stanley analyst Benjamin Swinburne maintained an Equal-Weight rating on Lamar and increased the price target from $105&nbsp; to $110. The same day, JPMorgan Chase &amp; Co. analyst Richard Close maintained a Neutral rating on Lamar and raised the price target from $92 to $109.
Lamar pays a quarterly dividend of $1.30 per share, and the annualized $5.20 dividend yields 4.52%. Its total three- and five-year returns are 34% and 67.52%, respectively.&nbsp;
The following table summarizes all four REITs and the total returns made since 2019:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>REIT</td>
<td>SYMBOL</td>
<td>TYPE</td>
<td>3-YR RETURN</td>
<td>5-YR RETURN</td>
</tr>
<tr>
<td>Iron Mountain Inc.</td>
<td>IRM</td>
<td>Specialized</td>
<td>129.4%</td>
<td>150.54%</td>
</tr>
<tr>
<td>Tanger Inc.&nbsp;</td>
<td>SKT</td>
<td>Retail</td>
<td>94.41%</td>
<td>56.76%</td>
</tr>
<tr>
<td>Plymouth Industrial REIT</td>
<td>PLYM</td>
<td>Industrial</td>
<td>39.62%</td>
<td>58.28%</td>
</tr>
<tr>
<td>Lamar Advertising Co.</td>
<td>LAMR</td>
<td>Specialized</td>
<td>34%</td>
<td>67.52%</td>
</tr>
</tbody>
</table>
</figure>
(Dates used: April 5, 2021, and April 5, 2019, to April 5, 2024)
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When investors seek out stocks that show strong relative strength versus peers from the same sector, they look for those issues that have performed well over short and longer time frames.
If you wanted to purchase a stock that's made substantial gains over the past month, there's a group of 14 real estate investment trusts (REITs) that have gained between 8% and 36% over that time. That's commendable.
And if one sought out a stock that's made enormous gains over the past year, 29 REITs are up 25% or more during that time frame. Considering the high interest rate environment in the U.S. between 2023- 2024, that's remarkable.
But if an investor is looking for stocks that have gained over 8% within the past month and 25% or more over the past year, that would be a much shorter list. Just nine out of almost 200 REITs meet those criteria. Take a look at the four best REITs that have accomplished both of those remarkable feats.
SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) &nbsp;is a New York City-based office REIT and the largest office building landlord in New York. As of Dec. 31, SL Green Realty held interests in 58 buildings, totaling 32.5 million square feet.
Many income-oriented investors like owning SL Green Realty for its monthly dividend. SL Green Realty pays a monthly dividend of $0.25, but the dividend was recently cut from $0.2708. It was the second time since December 2022 that SL Green cut its dividend.&nbsp;
Despite the cut, SL Green's story over the past year is amazing. Given up for dead in March 2023 when it bottomed out at $17.23, and despite declining funds from operations (FFO) and revenue over the past year, it's risen 116.55% in one year. Over the past month, it's up 8.78%.
Many analysts have erroneously called for Sell ratings and even a $17 price target on SL Green since a year ago. As recently as March 18, Evercore ISI Group analyst Steve Sakwa downgraded SL Green from In-Line to Underperform and announced a $44 price target — about $7 below its recent closing price of $51.04.
Reports of the demise of New York City office work are grossly overblown, and this best-of-breed office REIT continues to reward patient shareholders who refused to panic during the darkest hours or listen to many analysts who were wrong.
Uniti Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNIT#NYSE">UNIT</a>) is a Little Rock, Arkansas-based specialized REIT that acquires and constructs mission-critical communications infrastructure in the form of fiber optics for data, copper and coaxial broadband networks. It owns and operates 140,000 fiber route miles covering 320,000 commercial buildings with over 28,600 customer connections in 300 metro markets. Most of its network is in the Eastern and Midwestern portions of the U.S. It's one of the 10 largest fiber providers in the U.S. today, and its fiber optic leasing generates the bulk of its revenue.
One year ago, Uniti was struggling with excessive debt and traded in the low $3 range. But the demand for data and fiber has been increasing because of the advent of 5G networks and artificial intelligence (AI) growth. Over the past year, Uniti has climbed 76.15%, and 20.2% of that gain has come within the last month.
On March 1, TD Cowen analyst Gregory Williams maintained an Outperform rating on Uniti Group and raised the price target from $9 to $10.&nbsp;
Modiv Industrial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDV#NYSE">MDV</a>) is a Reno, Nevada-based, internally managed diversified REIT with 42 single-tenant net-lease properties totaling 4.5 million square feet across 15 states. It has 39 industrial, four office and one retail property in a portfolio of about 30 tenants. The portfolio has an excellent weighted average lease term (WALT) of 14 years and includes average annual rental increases of 2.5%. It recently had a 100% occupancy rate.
Modiv Industrial was founded in 2015 and had its initial public offering (IPO) in February 2022. The original company name of Modiv Inc. was changed to Modiv Industrial Inc. in August 2023 to reflect its achievement of creating a portfolio with mostly industrial properties. That transition has helped Modiv to gain 60.01% over the past year, with 13.97% of that coming within the past month.
Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) is a Portsmouth, New Hampshire-based specialty REIT with a focus on information management and storage, data center infrastructure and asset lifecycle management. Iron Mountain was founded in 1951 and has more than 225,000 customers worldwide, including about 95% of Fortune 1000 customers. In recent years, it shifted its focus from paper storage to data storage.
On February 22, Iron Mountain reported its fourth-quarter operating results. FFO of $0.83 per share beat the consensus estimate of $0.81 per share and its FFO of $0.74 in the fourth quarter of 2022. Revenue of $1.42 billion beat fourth-quarter 2022 revenue of $1.28 billion but could not meet the analyst estimates of $1.45 billion.
Analysts continue to be positive on Iron Mountain. On March 15, Wells Fargo analyst Eric Luebchow maintained an Overweight position on Iron Mountain and raised the price target from $80 to $90. Barclays' analyst Brendan Lewis also has an Overweight position from early March on Iron Mountain, with a $91 price target.
Over the past year, Iron Mountain has gained 58.44%, with a 17.21% gain in the last 30 days.&nbsp;
These four REITs have been remarkable performers.
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Wall Street watches a company&#39;s quarterly report closely to understand as much as possible about its recent performance and what to expect going forward. Of course, one figure often stands out among the rest: earnings.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
&nbsp;
Should You Consider Travelers?
The final step today is to look at a stock that meets our ESP qualifications. Travelers (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) earns a #2 (Buy) 30 days from its next quarterly earnings release on April 17, 2024, and its Most Accurate Estimate comes in at $5.20 a share.
By taking the percentage difference between the $5.20 Most Accurate Estimate and the $4.74 Zacks Consensus Estimate, Travelers has an Earnings ESP of +9.66%. Investors should also know that TRV is one of a large group of stocks with positive ESPs.
TRV is part of a big group of Finance stocks that boast a positive ESP, and investors may want to take a look at Iron Mountain (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/irm#NYSE">IRM</a>) as well.
Slated to report earnings on May 2, 2024, Iron Mountain holds a #1 (Strong Buy) ranking on the Zacks Rank, and it&#39;s Most Accurate Estimate is $1.06 a share 45 days from its next quarterly update.
The Zacks Consensus Estimate for Iron Mountain is $1.05, and when you take the percentage difference between that number and its Most Accurate Estimate, you get the Earnings ESP figure of +0.26%.
TRV and IRM&#39;s positive ESP figures tell us that both stocks have a good chance at beating analyst expectations in their next earnings report.
&nbsp;
<a href="https://www.zacks.com/stock/news/2241964/how-to-find-strong-finance-stocks-slated-for-positive-earnings-surprises?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_earnings_esp-2241964">To read this article on Zacks.com click here.</a>

Wells Fargo analyst Eric Luebchow maintains Iron Mountain (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) with a Overweight and raises the price target from $80 to $90.

Wells Fargo Maintains Overweight on Iron Mountain, Raises Price Target to $90

GLPI

Shares of REITs are trading lower amid a rise in Treasury yields following PPI data.

After a lackluster January, real estate investment trusts (<a href="https://www.benzinga.com/real-estate/reit">REITs</a>) provided a much-needed improvement in February. Almost all REITs reported fourth-quarter earnings this month, and although forward guidance came in soft for many of them, the majority of REITs still managed to meet or beat estimates on funds from operations (FFO) and revenue. The Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) was up 1.98% for the month, and about 60% of all REITs had positive returns as well. &nbsp;
The top REIT performers this month were from a diverse mix of subsectors. One REIT that has underperformed for many months, came back to life in February and was the leading REIT in total return. Take a look at the top four performers for February (prices as of the close on February 29).
Medical Properties Trust Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPW#NYSE">MPW</a>) is a Birmingham, Alabama-based healthcare REIT that owns and operates 439 general acute care and other properties across the U.S. and nine other countries, with locations in Europe and even Australia. It has a total portfolio of $18.3 billion, of which about 64% are general acute care hospitals. About two-thirds of its properties are in the United States.&nbsp;
After one of the worst total returns of any REIT in January, Medical Properties reversed course in February, coming in with a total return of 35.81%. Here are the highlights of the month:
On Feb. 20, RBC Capital Markets analyst Michael Carroll maintained an Outperform rating on Medical Properties Trust while lowering the price target from $8 to $5.
On Feb. 21, Medical Properties Trust reported its fourth-quarter operating results. Normalized FFO of $0.36 per share beat the estimates of $0.29 per share but fell from $0.43 per share in the fourth quarter of 2022. Revenue of negative $122.83 million was well below revenue of $380.49 million in the fourth quarter of 2022 and reflected a $166.8 million charge in straight-line rent and another negative $53.4 million reduction of interest and other income.
Medical Properties declined to comment on the full-year 2024 forward guidance of FFO because of the uncertainty of its large portfolio of Steward Health Care System hospitals.
While it wasn't a great earnings report, it still triggered a rally in share price over the last week of the month, perhaps because of relief that it wasn't worse than it was.&nbsp;&nbsp;
TPG RE Finance Trust Inc. (NYSE TRTX), a subsidiary of TPG Real Estate, is a mortgage REIT with a $4.2 billion portfolio of first mortgage loans with an average loan size of $71.6 million in geographically diverse primary and select secondary markets across the U.S.
On Feb. 20, TPG RE Finance Trust reported its fourth-quarter operating results. Adjusted earnings per share (EPS) of negative $2.05 missed the estimate of negative $0.17. Revenue of $31.49 million was ahead of estimates of $24.73 million but below revenue from the fourth quarter of 2022 of $35.99 million.
In contrast to the negative earnings report, the earnings call was quite upbeat, and perhaps investors were reacting to that as shares blasted higher over the final week of the month. TPG RE Finance had a total return in February of 22.82%
Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) is a Portsmouth, New Hampshire-based specialty REIT with a focus on information management and storage, data center infrastructure and asset lifecycle management. Iron Mountain was founded in 1951 and has more than 225,000 customers in more than 60 countries. In recent years, it has shifted its focus from paper storage to data storage.
On Feb. 22, Iron Mountain reported its fourth-quarter operating results. AFFO of $0.52 per share beat the consensus estimate of $0.45. Revenue of $1.42 billion missed the estimate of $1.45 billion but was an 11.02% increase over revenue of $1.28 billion in Q4 2022.
Iron Mountain's fourth quarter was impressive, and the REIT had the third-best total return in February with 16.47%
Xenia Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHR#NYSE">XHR</a>) is an Orlando, Florida-based hotel REIT that owns and operates 32 luxury and upscale hotels and resorts with 9,514 rooms in 25 markets across 14 states. Marriott, Hyatt and Hilton are some of the brands within its portfolio.
On Feb. 27, Xenia Hotels reported its fourth-quarter operating results. Adjusted funds from operations (AFFO) of $0.41 beat the analyst estimates of $0.37 and was in line with AFFO from the fourth quarter of 2022. Revenue of $253.38 million missed the consensus estimate of $253.79 million and was also below revenue of $263.14 million from the fourth quarter of 2022.
Nonetheless, one analyst was impressed. On Feb. 29, Jefferies analyst David Katz upgraded Xenia Hotels from Hold to Buy and raised the price target from $14 to $18.
As a result, Xenia Hotels blasted higher over the last three trading days of the month and had a total return in February of 15.08%.
A few other REITs that performed admirably in February were Diversified Healthcare Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DHC#NASDAQ">DHC</a>), with a total return of 14.29%, Ranyonier Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RYN#NYSE">RYN</a>), with 13.63% and Park Hotels &amp; Resorts Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PK#NYSE">PK</a>), with 10.08%. 
<h2 class="wp-block-heading">Latest Private Market Insights</h2>
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Throughout the last three months, 4 analysts have evaluated Iron Mountain (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>), offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Iron Mountain and provided 12-month price targets. The average target is $81.5, accompanied by a high estimate of $91.00 and a low estimate of $76.00. Surpassing the previous average price target of $72.00, the current average has increased by 13.19%.
<img src="https://www.benzinga.com/files/images/story/2024/1709640050_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Iron Mountain's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$91.00</td>
<td>$79.00</td>
</tr>
<tr>
<td>Eric Luebchow</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$80.00</td>
<td>$75.00</td>
</tr>
<tr>
<td>Brendan Lynch</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$79.00</td>
<td>$69.00</td>
</tr>
<tr>
<td>Shlomo Rosenbaum</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$76.00</td>
<td>$65.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Iron Mountain. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Iron Mountain compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of Iron Mountain's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Iron Mountain's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/IRM/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Iron Mountain analyst ratings.</a>
<h2>All You Need to Know About Iron Mountain</h2>
Iron Mountain Inc is a record management services provider. It is organized as a REIT. Most of its revenue comes from its storage business, with the rest coming from value-added services. The firm primarily caters to enterprise clients in developed markets. Its business segments include Global RIM Business; Global Data Center Business; and Corporate and Other Business.
<h3>Unraveling the Financial Story of Iron Mountain</h3>
Market Capitalization: Exceeding industry standards, the company's market capitalization places it above industry average in size relative to peers. This emphasizes its significant scale and robust market position.
Revenue Growth: Iron Mountain's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 11.01%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Real Estate sector.
Net Margin: Iron Mountain's net margin is impressive, surpassing industry averages. With a net margin of 2.01%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Iron Mountain's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 12.01% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Iron Mountain's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.17%, the company showcases efficient use of assets and strong financial health.
Debt Management: Iron Mountain's debt-to-equity ratio stands notably higher than the industry average, reaching 69.87. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>Analyst Ratings: What Are They?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

4 Analysts Have This To Say About Iron Mountain

Barclays analyst Brendan Lynch maintains Iron Mountain (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) with a Overweight and raises the price target from $79 to $91.

Barclays Maintains Overweight on Iron Mountain, Raises Price Target to $91

Iron Mountain's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) short percent of float has fallen 8.81% since its last report. The company recently reported that it has 10.06 million shares sold short, which is 4.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.46 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Iron Mountain Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1708693222_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Iron Mountain has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Iron Mountain's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Iron Mountain's peer group average for short interest as a percentage of float is 5.06%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(IRM) - Analyzing Iron Mountain's Short Interest

Specialized REIT firm&nbsp;Iron Mountain Inc&nbsp;(NYSE:&nbsp;IRM) reported fourth-quarter fiscal 2023 revenue growth of 11% year-on-year to $1.42 billion, missing the consensus&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37256735/iron-mountain-reports-fourth-quarter-and-full-year-2023-results" rel="noreferrer noopener">estimate of $1.45 billion</a>.
Storage rental revenue grew 13% Y/Y to $871 million. Service revenue rose 8% Y/Y to $549 million.
The adjusted EBITDA margin expanded by 60 bps to 35.1%.
Adjusted EPS was $0.52. Adjusted FFO per share improved by 9% Y/Y to $1.07, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.81</a>.&nbsp;
Iron Mountain held $222.8 million in cash and equivalents as of December 31, 2023.
Dividend:&nbsp;The board declared a quarterly cash dividend of $0.65 per share.
CEO William L. Meaney said, &#8220;Our Project Matterhorn initiative is propelling us on our growth journey, and our team&#8217;s unwavering customer-first mindset continues to flourish as we grow our portfolio of products to meet our customers&#8217; needs. We are also pleased to confirm that our acquisition of Regency Technologies closed in early January; this acquisition continues to build on our leadership in Asset Lifecycle Management.&#8221;
FY24 Outlook:&nbsp;Iron Mountain projected revenue of $6.00 billion &#8211; $6.15 billion versus the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $6.09 billion</a>.
It also expects adjusted FFO per share of $4.39 &#8211; $4.51.
IRM Price Action: IRM shares traded higher by 5.08% at $72.01 on the last check Thursday.
Photo via Shutterstock

A Critical Cooldown

Forget The Fed, These 3 REITs Could Thrive Regardless Of Interest Rate Changes

There's a lot to be optimistic about in the Real Estate sector as 2 analysts just weighed in on UDR (UDR – Research Report) and Iron Mountain (IRM ...

Analysts Offer Insights on Real Estate Companies: UDR (UDR) and Iron Mountain (IRM)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
One of the best ways to protect your portfolio, and generate consistent income is with some of the best REITs to buy.



Look at&nbsp;Digital Realty&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/dlr-stock-quote/">DLR</a>), for example. With a yield of 3.26%, it&rsquo;s getting swept up in the artificial intelligence boom. Now, thanks to artificial intelligence,&nbsp; data center demand is expected to rise at a 15% CAGR until 2030, <a href="https://www.goldmansachs.com/intelligence/pages/gs-research/generational-growth-ai-data-centers-and-the-coming-us-power-surge/report.pdf">according to Goldman Sachs</a>.&nbsp;



&ldquo;Almost every industry is now looking for new AI functionality that can streamline processes and improve results. In this new digital landscape,&nbsp;<a href="https://www.digitalrealty.com/data-centers" target="_blank">data centers</a>&nbsp;are uniquely positioned to both provide and benefit from AI applications,&rdquo;&nbsp;<a href="https://www.digitalrealty.com/resources/articles/data-center-ai">says Digital Realty</a>.



And until the AI boom slows, which won&rsquo;t happen any time soon, data centers will continue to see significant demand. All of which will drive some of the best REITs to buy, like Digital Realty to new highs. Better, it could drive dividend payouts higher, too.



That being said, we&rsquo;ve included more data center REITs on this list of the best REITs to buy.



<h2>Equinix (EQIX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/eqix-stock-1-300x169.jpg" alt="corporate building with Equinix (EQIX) logo on it"><div>Source: Ken Wolter / Shutterstock.com</div></div>With a yield of 2.22%, data center REIT,&nbsp;Equinix&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/eqix-stock-quote/">EQIX</a>) provides the data center backbone that fuels Nvidia&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvd-stock-quote/">NVD</a>) operations. Better, Nvidia&rsquo;s dominance with artificial intelligence puts Equinix at the top of the list of top data center REITs to buy and hold for the long term.



In recent weeks, the REIT dropped from about $809 to $747.65, where it&rsquo;s again a buying opportunity &ndash; especially with data center demand on the rise. 



Moreover,&nbsp;<a href="https://www.sahmcapital.com/news/content/barclays-maintains-equal-weight-on-equinix-raises-price-target-to-671-2024-05-30">Barclays&rsquo; analysts</a>&nbsp;just raised their price target on the REIT to $671 with an equal weight rating.&nbsp;The REIT also just paid out a dividend of $4.26, which was payable on June 19. If you missed this one, more are on the way.



Even more impressive, hedge funds are tripping over each other to buy. Billionaire Steven Schonfield, for example, <a href="https://hedgefollow.com/stocks/EQIX">increased his firm&rsquo;s stake in EQIX by 3,688%</a>, buying another 28,400 shares at the end of March. Billionaire investor Dmitry Balyasny also just increased his firm&rsquo;s stake in EQIX by 594%.



<h2>Iron Mountain (IRM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/reit1600e-300x169.jpg" alt="a person in a suit holds a tiny house to represent reits to buy"><div>Source: Shutterstock</div></div>The last time I mentioned&nbsp;Iron Mountain&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/irm-stock-quote/">IRM</a>), <a href="https://investorplace.com/2024/04/the-7-best-reits-to-buy-in-april-2024/">I said</a>, &ldquo;The REIT &ndash; which is&nbsp;aggressively expanding its data center capacity&nbsp;to meet the demand of the generative artificial intelligence (AI) boom is just as attractive as Digital Realty Trust.&rdquo;



That was on June 5 as IRM traded at about $81. Today, after hitting a high of $89.21, it&rsquo;s now back to $87.77 and is still a good buy at current prices.



Plus, earnings have been solid. In its first quarter, the company posted stronger-than-expected numbers. <a href="https://investors.ironmountain.com/news-and-events/press-releases/press-release-details/2024/Iron-Mountain-Reports-First-Quarter-Results/default.aspx#:~:text=AFFO%20per%20share%20was%20%241.10,the%20first%20quarter%20of%202023.">Adjusted funds from operations</a> came in at $1.10 compared to expectations of 92 cents. Total revenue of $1.48 billion beat estimates of $1.45 billion. It also reiterated its funds from operations per share of $4.39 to $4.51, revenue of $6 billion to $6.15 billion, and adjusted EBITDA of $2.175 billion to $2.225 billion.



Even better, it declared a <a href="http://65-cent%20quarterly%20dividend">65-cent quarterly dividend</a>, payable July 5 for shareholders of record as of June 17.&nbsp;



<h2>Data Center &amp; Digital Infrastructure ETF (DTCR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/tech_stocks_servers1600-300x169.png" alt="network server room with computers for digital tv ip communications and internet,3d rendering. Tech stocks"><div>Source: Connect world / Shutterstock.com</div></div>Or, if you want to diversify with data center REITs, there&rsquo;s the&nbsp;Data Center &amp; Digital Infrastructure ETF&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/dtcr-stock-quote/">DTCR</a>), which last traded at $15.21 a share. While this ETF only yields about 1.11%, it&rsquo;s a solid way to diversify at a lower cost with top data center stocks. All of which are getting caught up in the artificial intelligence demand boom.



With an expense ratio of 0.50%, the ETF holds 25 related stocks, including,&nbsp;Equinix,&nbsp;American Tower&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/amt-stock-quote/">AMT</a>),&nbsp;Crown Castle&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/cci-stock-quote/">CCI</a>), Digital Realty Trust, and&nbsp;Digital Bridge&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/dbrg-stock-quote/">DBRG</a>).&nbsp;



All of which should benefit from global data center investments &ldquo;expected to increase from $321bn in 2022 to $410bn in 2025 to support the growth of 5G, smart grids, and other forms of tech-based infrastructure,&rdquo;&nbsp;<a href="https://www.globalxetfs.com/funds/dtcr/#:~:text=Global%20data%20center%20investments%20are,forms%20of%20tech%2Dbased%20infrastructure.">says Global X ETFs</a>.



After bottoming out around $13.85, the REIT is now up to $15.21, where it&rsquo;s still a buy. From here, we&rsquo;d like to see it initially retest at $16.



<h2>DigitalBridge (DBRG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/servers-computers-300x169.jpg" alt="Image of computer servers lined up in a dark room"><div>Source: Gorodenkoff/Shutterstock.com</div></div>Another one of the best REITs to buy that&rsquo;s getting caught up in the AI demand story is DigitalBridge.



With a yield of 0.31%, the REIT&rsquo;s nearly 300 data centers are a big part of its growth trajectory. The company&rsquo;s&nbsp;<a href="https://thetechcapital.com/digitalbridge-ceo-we-believe-the-opportunity-set-for-ai-is-close-to-38-gigawatts/">CEO Marc Ganzi</a>&nbsp;also believes global data center capacity will need to grow by about 300% to meet the demands of AI. All of which could fuel further upside for DBRG.



Earnings have been solid, too. <a href="https://seekingalpha.com/news/4096856-digitalbridge-non-gaap-eps-of-0_01-revenue-of-74_39m?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A7">EPS of a penny beat estimates for a loss of seven cents</a>. Revenue also jumped more than 302% to $74.39 million.



Last trading at $12.85, it&rsquo;s a buy. From here, I&rsquo;d like to see it refill its bearish gap at around $16.50 with AI demand gaining momentum.



Billionaire Steven Schonfield also increased his firm&rsquo;s stake in <a href="https://hedgefollow.com/stocks/DBRG">DBRG by 436%</a> by adding another 676,450 shares at the end of March. Israel Englander also increased Millennium Management&rsquo;s stake in DBRG by 637.5%.



<h2>STAG Industrial (STAG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/stag-1600-warehouse-reit-300x169.jpg" alt="stocks to buy: warehouse interior with shelves, pallets and boxes D"><div>Source: Don Pablo / Shutterstock.com</div></div>Outside of the data center REITs, another one of the best REITs to buy is&nbsp;STAG Industrial&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/stag-stock-quote/">STAG</a>).



With a yield of 4.24%, the REIT has&nbsp;been paying a <a href="https://ir.stagindustrial.com/stock-information/dividends/default.aspx">monthly dividend of 12.3 cents</a> throughout the first three months of the year. In addition, the REIT &ndash; which leases industrial properties, such as warehouses and distribution centers to e-commerce companies &ndash; is also benefiting from consumers shifting to online shopping.



We also have to consider that online shopping is only expected to increase. After all, it&rsquo;s much easier to shop in the comfort of your home than deal with the public. According to estimates, <a href="https://optinmonster.com/online-shopping-statistics/">global e-commerce sales could grow to $58.74 trillion by 2028</a>. Plus, the number of online shoppers is expected to grow from 268 million in 2022 to 285 million by 2025. All of which will benefit REITs like STAG Industrial.



Plus, earnings haven&rsquo;t been too shabby. In its first quarter, <a href="https://seekingalpha.com/news/4096753-stag-industrial-ffo-of-0_59-beats-0_01-revenue-of-187_54m-beats-3_23m?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A4">funds from operations</a> came in at 59 cents, which beat estimates by a penny. Revenue of $187.54 million, up 8.1% year over year, beat by $3.23 million.&nbsp;



<h2>Apple Hospitality REIT (APLE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/hotels-1600-300x169.jpg" alt="Woman standing in hotel room with luggage looking at the view. Hotel stocks."><div>Source: Boyloso / Shutterstock</div></div>Another one of the best REITs to buy is&nbsp;Apple Hospitality REIT&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/aple-stock-quote/">APLE</a>), which yields 6.54%.



At the moment, APLE owns&nbsp;about 224 hotels in 87 markets throughout 37 U.S. states. All of which should benefit from the upcoming travel season. It&rsquo;s also about to pay a dividend of eight cents per share on June 17 to shareholders of record as of May 31. And if you missed this one, don&rsquo;t worry about it. More are coming.



Some of its top tenants include hotel chains such as&nbsp;Marriott International&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mar-stock-quote/">MAR</a>) and&nbsp;Hyatt Hotels&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/h-stock-quote/">H</a>) &ndash; most of which are likely to benefit as millions prepare to take summer vacations.&nbsp;In addition, earnings have been solid. Its Q1 <a href="https://seekingalpha.com/news/4100723-apple-hospitality-ffo-of-0_34-in-line-revenue-of-329_51m-beats-2_16m?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A5">FFO of 34 cents was in line with expectations</a>. Revenue of $329.51 million &ndash; up 5.8% year over year &ndash; beat by $2.16 million.



After catching double-bottom support at around $14, the APLE REIT is slowly starting to pivot higher again. I&rsquo;d buy it here with an initial price target of $16. In the meantime, while we wait for that to happen, we can collect its 6.54% yield.



<h2>Agree Realty (ADC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/office-1600-300x169.png" alt="Group of colleagues discuss something in an office conference room. commercial real estate"><div>Source: GaudiLab / Shutterstock</div></div>Let&rsquo;s also take a look at&nbsp;Agree Realty&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/adc-stock-quote/">ADC</a>), which acquires and develops properties net leased to industry-leading, omnichannel retail tenants. As of&nbsp;March 31,&nbsp;the <a href="https://www.prnewswire.com/news-releases/agree-realty-corporation-reports-first-quarter-2024-results-302125138.html">REIT owned and operated a portfolio of 2,161 properties</a>, located in 49 states and containing approximately 44.9 million square feet of gross leasable area.



Better, the monthly dividend-paying REIT just declared a <a href="https://www.prnewswire.com/news-releases/agree-realty-declares-monthly-common-and-preferred-dividends-302169618.html#:~:text=Agree%20Realty%20Declares%20Monthly%20Common%20and%20Preferred%20Dividends,-News%20provided%20by&amp;text=ROYAL%20OAK%2C%20Mich.%2C%20June,of%20%240.250%20per%20common%20share.">dividend of&nbsp;$0.250</a>&nbsp;per share or $3 annualized. It&rsquo;s payable&nbsp;July 15&nbsp;to stockholders of record at the close of business on&nbsp;June 28.



Earnings have been solid here, too. In its first quarter, <a href="https://seekingalpha.com/news/4092779-agree-realty-ffo-of-1_01-beats-0_01-revenue-of-149_45m-beats-1_09m?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A6">FFO of $1.01 beat by a penny</a>. Revenue of $149.45 million, up 18% year over year, beat by $1.09 million.&nbsp;



Hedge funds love ADC, too. <a href="https://hedgefollow.com/stocks/ADC">Steven Cohen&rsquo;s Point72</a> for example just increased its stake by 8,471%, adding 321,930 shares at the end of March. Israel Englander also increased his firm&rsquo;s stake in ADC by 2,259%, adding 354,560 shares. Even Ken Griffin&rsquo;s Citadel Advisors just increased its stake by 8,463%. 



In short, follow the smart money and collect its yield.



On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/the-7-best-reits-to-buy-in-june-2024/">The 7 Best REITs to Buy in June 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The 7 Best REITs to Buy in June 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
A lot of great stocks are hiding in plain sight. Many stocks quietly outperform the market without generating much, if any, media attention. Oftentimes, these high-risk stocks are prone to volatility and big swings in their share price. Investors who have a high <a href="https://www.investopedia.com/terms/r/risktolerance.asp">risk tolerance</a> and are willing to be patient can earn a good return on these more risky investments.



Sometimes it is smaller volatile stocks that end up being multibaggers and lead to shareholders getting rich. Consider energy drink company Monster Beverage (NASDAQ:<a href="https://investorplace.com/stock-quotes/mnst-stock-quote/">MNST</a>). Twenty years ago, its stock was trading for 34 cents a share. Today, the share price is just under $50. That&rsquo;s a gain of 14,000%. Two decades ago, most analysts dismissed Monster Beverage as a small company with a niche product and a risky stock. <a href="https://www.investopedia.com/terms/r/risk.asp">Taking</a> a chance on certain high-risk stocks can pay off over time.



Here is rag to riches: three high-risk stocks that could make early investors rich. 



<h2>Iron Mountain (IRM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/irm1600-300x169.jpg" alt="Iron Mountain (IRM) logo on truck"><div>Source: Shutterstock</div></div>When it comes to artificial intelligence (AI) servers, Super Micro Computer (NASDAQ:<a href="https://investorplace.com/stock-quotes/smci-stock-quote/">SMCI</a>) tends to get all the attention. But another company capitalizing on the <a href="https://www.fool.com/investing/2024/03/05/why-iron-mountain-stock-surged-165-in-february/">opportunity with AI servers</a> is Iron Mountain (NYSE:<a href="https://investorplace.com/stock-quotes/irm-stock-quote/">IRM</a>). The company is structured as a real estate investment trust (REIT) and is mostly focused on data storage, back-up and recovery services, as well as records management.



However, Iron Mountain is also pushing into the AI server sector. Through an initiative called &ldquo;Project Matterhorn&rdquo; that was launched in 2022, the company is investing heavily in the development of <a href="https://www.baystreet.ca/stockstowatch/18119/The-Future-of-AI-Data-Centers-Poised-for-Massive-Growth-and-Increased-Security-Measures">data centers and servers</a> to meet the AI needs of other companies. To that end, Iron Mountain has leased 124 megawatts of data center capacity. As for IRM stock, it has risen 60% in the last year, including a 29% gain so far in 2024.



Iron Mountain stock is not without risks. It&rsquo;s currently at a 52-week high and has an exorbitant valuation, trading at 135 times future earnings estimates. Company insiders have also been <a href="https://www.investing.com/news/company-news/iron-mountain-executive-exercises-options-and-sells-shares-worth-over-12-million-3487798">offloading the stock</a> lately. It does pay a generous quarterly dividend of 65 cents per share, giving it a yield of nearly 3%.



<h2>Hawkins (HWKN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/chemicals-300x169.jpg" alt="Detail of chemical plant, silos and pipes"><div>Source: Shutterstock</div></div>Hawkins (NASDAQ:<a href="https://investorplace.com/stock-quotes/hwkn-stock-quote/">HWKN</a>) is a relatively small company based outside Minneapolis that specializes in chemicals. Its diversified chemical products are used for everything from ensuring clean drinking water and adding flavor to food to developing health supplements and pharmaceutical medications. The company has been in business since 1938 and today has <a href="https://markets.businessinsider.com/news/stocks/the-bull-case-for-hawkins-inc-nasdaq-hwkn-1032946488">operations in 27 states</a> and nearly 1,000 employees.



That said, Hawkins remains a small company with less than $1 billion in annual revenues and a market capitalization below $2 billion. Still, the essential nature of its products has led HWKN stock to <a href="https://finance.yahoo.com/news/3-reasons-why-hawkins-hwkn-174502297.html">outperform the broader market</a>. The company&rsquo;s share price has risen 350% over the last five years, is up 82% in the past 12 months, and has gained nearly 30% so far in 2024. The company also pays a quarterly dividend of 16 cents per share, which it regularly increases. This is the type of small-cap stock that might be worth the risk. 



<h2>Celsius (CELH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/celh1600-300x169.jpg" alt="three energy drinks contrasted against a white background. High-Risk Stocks"><div>Source: Shutterstock</div></div>A buying opportunity might have opened up in Celsius (NASDAQ:<a href="https://investorplace.com/stock-quotes/celh-stock-quote/">CELH</a>). The energy drink company&rsquo;s stock has plunged 34% over the past month and is trading nearly 40% below its 52-week high. The decline in CELH stock is due to concerns that the company&rsquo;s <a href="https://finance.yahoo.com/news/down-30-one-month-celsius-114500462.html">rapid growth is beginning to slow</a>. Sales figures show that Celsius&rsquo; energy drinks that are made from natural ingredients such as green tea and ginger have cooled.



Analysts are calling the steep drop in CELH stock during the last month an overreaction and overdone. Piper Sandler just reiterated a $90 price target and &ldquo;<a href="https://www.streetinsider.com/Analyst+Comments/Piper+Sandler+Reiterates+Overweight+Rating+on+Celsius+Holdings+%28CELH%29/23369274.html#:~:text=Piper%20Sandler%20Reiterates%20Overweight%20Rating%20on%20Celsius%20Holdings%20(CELH),-June%2018%2C%202024&amp;text=Piper%20Sandler%20analyst%20Michael%20Lavery,Holdings%20(NASDAQ%3A%20CELH).">buy</a>&rdquo; rating on CELH stock. The $90 price target implies 43% upside for Celsius&rsquo; shares. While sales of the energy drinks have slowed, analysts point out that they&rsquo;re still growing at a 40% year-over-year clip, which is very strong.



Despite the recent volatility, CELH stock remains one of the best performers of the past five years, having gained 4,805% since 2019.



On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0" target="_blank">Publishing Guidelines</a>.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/rag-to-riches-3-high-risk-stocks-that-could-make-early-investors-rich/">Rag to Riches: 3 High-Risk Stocks That Could Make Early Investors Rich</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Rag to Riches: 3 High-Risk Stocks That Could Make Early Investors Rich

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
A lot of great stocks are hiding in plain sight. Many stocks quietly outperform the market without generating much, if any, media attention. Oftentimes, these high-risk stocks are prone to volatility and big swings in their share price. Investors who have a high <a href="https://www.investopedia.com/terms/r/risktolerance.asp">risk tolerance</a> and are willing to be patient can earn a good return on these more risky investments.



Sometimes it is smaller volatile stocks that end up being multibaggers and lead to shareholders getting rich. Consider energy drink company Monster Beverage (NASDAQ:<a href="https://investorplace.com/stock-quotes/mnst-stock-quote/">MNST</a>). Twenty years ago, its stock was trading for 34 cents a share. Today, the share price is just under $50. That&rsquo;s a gain of 14,000%. Two decades ago, most analysts dismissed Monster Beverage as a small company with a niche product and a risky stock. <a href="https://www.investopedia.com/terms/r/risk.asp">Taking</a> a chance on certain high-risk stocks can pay off over time.



Here is rag to riches: three high-risk stocks that could make early investors rich. 



<h2>Iron Mountain (IRM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/irm1600-300x169.jpg" alt="Iron Mountain (IRM) logo on truck"><div>Source: Shutterstock</div></div>When it comes to artificial intelligence (AI) servers, Super Micro Computer (NASDAQ:<a href="https://investorplace.com/stock-quotes/smci-stock-quote/">SMCI</a>) tends to get all the attention. But another company capitalizing on the <a href="https://www.fool.com/investing/2024/03/05/why-iron-mountain-stock-surged-165-in-february/">opportunity with AI servers</a> is Iron Mountain (NYSE:<a href="https://investorplace.com/stock-quotes/irm-stock-quote/">IRM</a>). The company is structured as a real estate investment trust (REIT) and is mostly focused on data storage, back-up and recovery services, as well as records management.



However, Iron Mountain is also pushing into the AI server sector. Through an initiative called &ldquo;Project Matterhorn&rdquo; that was launched in 2022, the company is investing heavily in the development of <a href="https://www.baystreet.ca/stockstowatch/18119/The-Future-of-AI-Data-Centers-Poised-for-Massive-Growth-and-Increased-Security-Measures">data centers and servers</a> to meet the AI needs of other companies. To that end, Iron Mountain has leased 124 megawatts of data center capacity. As for IRM stock, it has risen 60% in the last year, including a 29% gain so far in 2024.



Iron Mountain stock is not without risks. It&rsquo;s currently at a 52-week high and has an exorbitant valuation, trading at 135 times future earnings estimates. Company insiders have also been <a href="https://www.investing.com/news/company-news/iron-mountain-executive-exercises-options-and-sells-shares-worth-over-12-million-3487798">offloading the stock</a> lately. It does pay a generous quarterly dividend of 65 cents per share, giving it a yield of nearly 3%.



<h2>Hawkins (HWKN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/chemicals-300x169.jpg" alt="Detail of chemical plant, silos and pipes"><div>Source: Shutterstock</div></div>Hawkins (NASDAQ:<a href="https://investorplace.com/stock-quotes/hwkn-stock-quote/">HWKN</a>) is a relatively small company based outside Minneapolis that specializes in chemicals. Its diversified chemical products are used for everything from ensuring clean drinking water and adding flavor to food to developing health supplements and pharmaceutical medications. The company has been in business since 1938 and today has <a href="https://markets.businessinsider.com/news/stocks/the-bull-case-for-hawkins-inc-nasdaq-hwkn-1032946488">operations in 27 states</a> and nearly 1,000 employees.



That said, Hawkins remains a small company with less than $1 billion in annual revenues and a market capitalization below $2 billion. Still, the essential nature of its products has led HWKN stock to <a href="https://finance.yahoo.com/news/3-reasons-why-hawkins-hwkn-174502297.html">outperform the broader market</a>. The company&rsquo;s share price has risen 350% over the last five years, is up 82% in the past 12 months, and has gained nearly 30% so far in 2024. The company also pays a quarterly dividend of 16 cents per share, which it regularly increases. This is the type of small-cap stock that might be worth the risk. 



<h2>Celsius (CELH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/celh1600-300x169.jpg" alt="three energy drinks contrasted against a white background. High-Risk Stocks"><div>Source: Shutterstock</div></div>A buying opportunity might have opened up in Celsius (NASDAQ:<a href="https://investorplace.com/stock-quotes/celh-stock-quote/">CELH</a>). The energy drink company&rsquo;s stock has plunged 34% over the past month and is trading nearly 40% below its 52-week high. The decline in CELH stock is due to concerns that the company&rsquo;s <a href="https://finance.yahoo.com/news/down-30-one-month-celsius-114500462.html">rapid growth is beginning to slow</a>. Sales figures show that Celsius&rsquo; energy drinks that are made from natural ingredients such as green tea and ginger have cooled.



Analysts are calling the steep drop in CELH stock during the last month an overreaction and overdone. Piper Sandler just reiterated a $90 price target and &ldquo;<a href="https://www.streetinsider.com/Analyst+Comments/Piper+Sandler+Reiterates+Overweight+Rating+on+Celsius+Holdings+%28CELH%29/23369274.html#:~:text=Piper%20Sandler%20Reiterates%20Overweight%20Rating%20on%20Celsius%20Holdings%20(CELH),-June%2018%2C%202024&amp;text=Piper%20Sandler%20analyst%20Michael%20Lavery,Holdings%20(NASDAQ%3A%20CELH).">buy</a>&rdquo; rating on CELH stock. The $90 price target implies 43% upside for Celsius&rsquo; shares. While sales of the energy drinks have slowed, analysts point out that they&rsquo;re still growing at a 40% year-over-year clip, which is very strong.



Despite the recent volatility, CELH stock remains one of the best performers of the past five years, having gained 4,805% since 2019.



On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Finvestorplace.com%2Fcorporate%2Finvestorplace-publishing-guidelines%2F&amp;data=04%7C01%7C%7C5a525d9084ae4cdfb8f008da1edbf06e%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637856227247256778%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000&amp;sdata=uLFH3ol2mcVxuJrHYW3xDLVx3qGIvonIwHvcfUa%2Fo24%3D&amp;reserved=0" target="_blank">Publishing Guidelines</a>.
<div>Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/rag-to-riches-3-high-risk-stocks-that-could-make-early-investors-rich/">Rags to Riches: 3 High-Risk Stocks That Could Make Early Investors Rich</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Rags to Riches: 3 High-Risk Stocks That Could Make Early Investors Rich

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AGNC

AGNCL

AGNCM

AGNCN

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APLE

BBRE

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CELH

CIMN

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Press Releases

Iron Mountain Schedules Fourth Quarter and Full Year 2023 Earnings Release and Conference Call


Thomas R. CarperSenate (D-DE)	$1K - $15K	Sale (Partial)	Jan 03, 2024	Dec 11, 2023	Senate
Daniel GoldmanHouse (D-NY)	$1K - $15K	Sale	Aug 13, 2023	Jul 12, 2023	House
Thomas R. CarperSenate (D-DE)	$1K - $15K	Sale (Partial)	Mar 01, 2023	Feb 21, 2023	Senate
Thomas R. CarperSenate (D-DE)	$1K - $15K	Sale (Partial)	Feb 03, 2022	Jan 18, 2022	Senate
Katherine ClarkHouse (D-MA)	$1K - $15K	Sale	Aug 15, 2021	Jul 27, 2021	House
Katherine ClarkHouse (D-MA)	$1K - $15K	Sale	Aug 15, 2021	Jul 27, 2021	House

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Government Trades

Iron Mountain Inc

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