Is Iron Mountain Stock Underperforming the Dow?

Is Iron Mountain Stock Underperforming the Dow?

Aritra Gangopadhyay

Wed, September 16, 2026 at 1:07 PM GMT+3 2 min read

• IRM +1.69%
• ^DJI +0.71%

Portsmouth-based Iron Mountain Incorporated (IRM) is a global leader in information management services, trusted by more than 240,000 customers in 61 countries. The company has a market cap of $33.4 billion and offers solutions for information management, digital transformation, information security, data centers, and asset lifecycle management (ALM).

Companies with a market cap of $10 billion or more are typically referred to as "large-cap stocks." IRM fits perfectly into that category, with its market cap exceeding this threshold and reflecting its substantial size and influence in the specialty REIT industry.

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Despite its strength, shares of Iron Mountain are down 16.8% from its 52-week high of $134.68, touched on June 24. Moreover, IRM has fallen 11.3% over the past three months and has underperformed the Dow Jones Industrial Average ($DOWI), which has grown marginally during the same period.

Zooming out a little further, the scenario remains the same. Over the past 52 weeks, IRM has grown 12.2%, slightly lagging behind DOWI's 13.5% gain.

IRM has been trading above its 200-day moving average since February, indicating long-term bullish momentum, and below its 50-day moving average since August.

On Aug.5, IRM stock rose 1.3% following the release of its Q2 2026 earnings. The company's revenue for the quarter rose 18.5% from the previous year's quarter to $2 billion and surpassed the Street's estimates. Moreover, its AFFO per share came in at $1.44, also topping Wall Street's forecasts. Iron Mountain expects full-year earnings in the range of $5.87 to $5.93 per share, with revenue in the range of $7.94 billion to $8.01 billion. Despite its underperformance over the past year, IRM has delivered better-than-expected earnings in both of its last quarters.

When stacked against its peer, Crown Castle Inc. (CCI), IRM has outperformed. Over the past year, CCI stock has fallen 21.7%.

Sentiment on IRM remains highly optimistic. Among the 19 analysts covering the stock, the consensus rating is a "Strong Buy." Its mean price target of $135.50 suggests 20.9% upside from current levels.

On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com