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Iron Mountain Incorporated (NYSE:IRM) is a records management services provider organized as a REIT. Most of the revenue comes from the storage business, and the rest comes from value-added services. The company primarily serves enterprise customers in developed markets.
The company is scheduled to announce its third quarter 2024 earnings on October 31st. Wall Street analysts expect the company’s EPS to be $0.48, up from $0.45 in the year-ago quarter. Quarterly revenue is expected to be $1.55 billion, up from $1.39 billion in the year-ago period, according to data from Benzinga Pro.
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The 52-week range for Iron Mountain’s stock price was $56.51 to $118.47.
Iron Mountain’s stock dividend yield is 2.48%. It paid a dividend of $2.86 per share in the last 12 months.
Iron Mountain Latest Information
On Aug. 1, Iron Mountain reported second-quarter 2024 earnings, with adjusted earnings of 42 cents per share, below consensus of 44 cents. Benzinga reported quarterly revenue of $1.53 billion, higher than Street View’s $1.51 billion.
Total reported revenue (excluding currency effects) increased 13.8% year over year. This was driven by an 11.5% increase in storage rental revenue and a 17.3% increase in service revenue.
AFFO for the quarter was $320.9 million, compared to $287.1 million in the prior year period, an increase of 11.8% due to improved adjusted EBITDA. AFFO per share was $1.08, an increase of 10.2% year over year.
On the same day, Iron Mountain’s board of directors announced a quarterly cash dividend of $0.715 per share for the third quarter, an increase of 10%.
Find out how much money you’d have today if you invested $1,000 in Iron Mountain stock five years ago by checking out this article from Benzinga.
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How can I make $100 a month as an Iron Mountain investor?
If you want to earn $100 per month, or $1,200 per year, from Iron Mountain’s dividends, your investment would need to be worth about $48,387. This equates to approximately 419 shares at a price of $115.36 per share.
Understand dividend yield calculation: When making your estimate, you need two important variables: desired annual income ($1,200) and dividend yield (in this case, 2.48%). So to generate $100 of income per month, $1,200 / 0.0248 = $48,387.
Dividend yield can be calculated by dividing the annual dividend by the stock’s current price.
Dividend yields can change over time due to changes in stock prices and regular dividend payments.
For example, suppose a stock with an annual dividend of $2 has a price of $50. The dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). If the stock price falls to $40, the opposite effect occurs and the dividend yield increases to 5% ($2/$40).
In summary, income-oriented investors may find Iron Mountain stock an attractive option as it allows them to earn a steady $100 each month by owning 419 shares.
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This article, “How to put $100 a month into your retirement with Iron Mountain Stock” originally appeared on Benzinga.com.
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