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Iron Mountain's Valuation Gap Is Narrowing - Summary: * Remember that the “valuation gap” is the…

Iron Mountain's Valuation Gap Is Narrowing -

Summary:

  • Remember that the “valuation gap” is the difference between a seller’s asking price and the market value of a company.
  • Iron Mountain’s valuation gap has significantly narrowed over the last few months.
  • Many people consider Iron Mountain a document storage business, not a REIT that owns real estate.

My first article on Iron Mountain (IRM) was on December 15, 2014 and at the time I wrote that “before I provide an entry price for this one, I'm going to wait a few quarters - monitor the REIT transition, management team, and core operating model. So far though, I like what I see and I believe Iron Mountain could provide a repeatable and predictable blueprint for dividend investors."

Then in on November 2015, I decided to take a position, and in an article, I explained,

I am initiating a BUY recommendation on Iron Mountain. I believe that the shares are trading at a discount compared with the P/FFO and Dividend yield metrics and, accordingly, the market does not quite know how to value the complex storage REIT.

Iron Mountain's Valuation Gap Is Narrowing

Iron Mountain's Valuation Gap Is Narrowing

by: Brad Thomas

Remember that the “valuation gap” is the difference between a seller’s asking price and the market value of a company. Iron Mountain’s valuation gap has signifi

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