Company Overview - Iron Mountain Incorporated (IRM) is a global leader in storage and information management solutions with a market capitalization of $28.7 billion, offering a wide range of services including information management, digital transformation, information security, data center, and asset lifecycle management [1] Stock Performance - Over the past year, IRM shares have declined by 8.5%, while showing a year-to-date growth of 17%. In comparison, the S&P 500 Index has returned 15.6% over the past year and 1.7% in 2026 [2] - IRM has underperformed the State Street Real Estate Select Sector SPDR ETF (XLRE) over the past 52 weeks but has outperformed it with a 4.7% increase this year [3] Analyst Insights - A bearish report from Gotham City Research indicated that IRM shares are overvalued, suggesting a valuation range of $22 to $40, leading to a 2.9% decline in shares on November 19 [6] - For the current year ending December 2025, analysts project IRM's EPS to rise by 162.2% year-over-year to $4.64 on a diluted basis, with a strong earnings surprise history [7] - Among 12 analysts covering IRM, the consensus rating is a "Strong Buy," with nine "Strong Buy" ratings, one "Moderate Buy," one "Hold," and one "Strong Sell" [7] Price Targets - Barclays analyst Brendan Lynch maintained a "Buy" rating on IRM shares with a price target of $123, while the mean price target of $116 indicates a 19.5% premium to current market prices [8] - The highest price target of $140 suggests a potential upside of 44.2% from current levels [8]

Core Insights - TCW Global Real Estate Fund reported a return of +2.37% for Q3 2025, underperforming the S&P Global REIT Index which returned +4.50% [1] - The fund's performance was positively impacted by an overweight allocation in Diversified Real Estate Activities, while an overweight in Telecom Tower REITs negatively affected performance [1] Company Overview: Iron Mountain Incorporated (NYSE:IRM) - Iron Mountain is a REIT specializing in storage and information management solutions, with a one-month return of -1.01% and a 52-week loss of 20.93% [2] - As of December 26, 2025, Iron Mountain's stock closed at $81.99 per share, with a market capitalization of $24.235 billion [2] Growth Potential - Iron Mountain is recognized as a leader in the records management industry, with growth driven by new ventures in data centers, tech hardware recycling, international paper storage, and digital solutions [3] - The company is well-positioned to benefit from the recovery of its datacenter segment and the durability of its Records Management Business, along with a leading market share in the fragmented Asset Lifecycle Management industry [3] Hedge Fund Interest - Iron Mountain was held by 37 hedge fund portfolios at the end of Q3 2025, a decrease from 47 in the previous quarter [4] - The company's revenue increased by 13% to $1.8 billion in Q3 2025, indicating growth potential [4]