- As one of the largest records management company in the world, Iron Mountain has diversified into datacenters, and more recently into the digital transformation business.
- Due to a significant portion of revenues still tied to management of physical assets, revenues were impacted by the pandemic, while the storage business has continued its steady upwards progression.
- The ability of the executives to propose a differentiated offering in response to regulatory requirements, while taking advantage of the secular digital transformation trend is a positive.
- While having deteriorated slightly, the Net Lease Adjusted Leverage remains lower than JPMorgan's REIT composite.
- Iron Mountain with higher returns and a dividend yield at 7.5% is a buy and hold.
For further details see:
Iron Mountain: Digital Transformation Starting To Pay Dividends