On March 8th I purchased 65 shares of Iron Mountain Inc. (IRM) for 34,75 $ per share plus commission. The total cost of the purchase was 2 031 €.
Iron Mountain Inc. (IRM) is a real estate investment trust (REIT). They are the global leader for storage and information management services.
They currently serve over 225 000 customers with their huge real estate network of more than 1 400 facilities in over 50 countries. Iron Mountain Inc. stores and protects billions of protected assets, such as critical business information, highly sensitive data, and cultural and historical artifacts.
The company is also investing heavily in digital services. Last year Iron Mountain Closed acquisition of IO Data Centers US. Operations for 1,34 billion $.
About The Stock
It is more accurate to assess the value of REIT’s with FFO (funds from operations) or AFFO (adjusted funds from operations) instead of EPS. As a result I have replaced the EPS with AFFO/share and P/E ratio with P/AFFO ratio. Here are some quick statistics about the stock:
- Sector: Real Estate
- AFFO/share: 3,05 $ (2018)
- P/AFFO Ratio: 11,4
- Yield: Pays a quarterly dividend of 0,611 $ per share which equals 7,03 % yield.
- Payout ratio (AFFO) : Dividend payout ratio is 80 %. REIT’s usually have high payout ratios, because they are required to distribute 90 % of their taxable earnings to the shareholders.
- Dividend History: Iron Mountain Inc. has increased dividend for 9 consecutive years.
- Dividend Growth Rate: Average dividend growth rate over the last three years is 8,1 %, which is astonishing for a high yield stock! The growth rate will probably slow down in the future, but I would be happy even with a low single-digit growth.
Iron Mountain Inc. is a new holding in my portfolio. With current yield it increases my annual passive income by 105,5 €. After the purchase weight of IRM is 2,1 % of my portfolio.
Have you purchased any stocks this month? What do you think about this buy? Please share your thoughts in the comment section below!
Thanks for reading.