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Given management’s guidance of $2.54 in annual dividends by 2020 that would translate to a price of $32.56, or 6.3% below today’s value.While that small potential decrease isn’t necessarily a concern for long-term investors, it would mean Iron Mountain’s cost of equity could rise to around 9.2%.Add in rising debt costs, especially if the REIT can’t get its credit upgraded to investment grade, and this could result in an overall cost of capital increase from about 5.1% to 6.8%, or potentially even higher if the REIT has to shift its capital structure away from debt and more towards higher cost equity.Or to put another way, Iron Mountain’s long-term dividend growth potential is hinging on management being able to grow its profitability at least as fast as its cost of capital rises along with interest rates in the coming years.We analyze 25+ years of dividend data and 10+ years of fundamental data to understand the safety and growth prospects of a dividend.Our Dividend Safety Score answers the question, “Is the current dividend payment safe?” We look at Dividend Safety Scores range from 0 to 100, and conservative dividend investors should stick with firms that score at least 60. So Iron Mountain’s dividend sits well within my comfort zone.Iron Mountain Inc has earned steady income from services like shredding and document retrieval. In a nutshell, Iron Mountain not only pays a high dividend, but the dividend is pretty safe.
Going forward, Iron Mountain is targeting 8% adjusted earnings before interest, taxes, depreciation, and amortization (Iron Mountain's business is attractive because it combines several advantages of other types of real estate.
Data storage and service make up another 15%, and Iron Mountain's document-shredding service contributes the other 10%.In its second-quarter earnings report, Iron Mountain showed some impressive growth. (Source: “That comes out to a payout ratio of about 80%. Governments have widely labeled the partnership’s data center and record storage businesses as essential services. General Electric: Another Dividend Cut Expected in 12 to 18 Months Iron Mountain Incorporated (IRM) Dividend Safety metrics.
Dividend History. (Note: Image doesn't necessarily depict an Iron Mountain facility. Thank you." New. In fact, AFFO has been on the rise since 2016, and growth is expected to continue through at least 2022.Last year, Iron Mountain paid $674 million in dividends, which was slightly more than the $658 million in AFFO that was generated.
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Marc was also a senior columnist at Jim Cramer’s TheStreet.His readers include teachers... engineers... sound technicians... real estate investors... financial advisors... business developers... law enforcement officers... people from all walks of life.Marc’s mission is to help every one of them generate a safe and steady stream of retirement Marc’s top-notch research makes him a sought-after media guest.
Nine Years of Dividend Hikes. Iron Mountain offers a relatively low risk way of profiting from the growth of fast-growing emerging markets, but while still enjoying a generous dividend yield.Iron Mountain is a hybrid between storage REITs and data center REITs. More importantly than a growing dividend is a safe one, which generally means you want to see the AFFO payout ratio at 85% or less.That’s because for a REIT with a highly diversified, stable, and predictable business model such as Iron Mountain, a payout ratio below this level usually indicates solid dividend security.The other important factor to consider when it comes to dividend safety is the strength of the balance sheet.As you can see, Iron Mountain has, on an absolute basis, a substantial level of debt. The company’s track record of paying shareholders is solid. That’s a problem.In 2016, the same situation occurred. Ninety-five percent of the Fortune 1000 are Iron Mountain customers, and the overall client list has more than 230,000 customers on it.Iron Mountain is a leader in secure document storage.
In the 2018-2020 period, Iron Mountain projects $450 million-$600 million in business acquisitions, about $500 million in data-center development and real estate consolidation, as well as up to $100 million in investments into its adjacent businesses.In fact, along with its second-quarter earnings report, Iron Mountain announced that it has agreed to acquire MAG DATACENTERS, a data-center business, for $128 million, adding over 9 megawatts of data-center capacity to Iron Mountain's operations.Based on Iron Mountain's stock price as of this writing, the company's $2.20 annual dividend translates to a 6.3% yield. © Copyright 2020: Income Investors. Investing Basics See you at the top! Reviewing Iron Mountain's Dividend Safety First, it's worth noting that a major reason why junk bond yields spiked in 2018 is due to fears of another prolonged oil crash. Iron Mountain’s Dividend Safety.
With an upfront yield of 10%, investors can still earn a respectable return with or without any growth.That’s the benefit of investing in companies that provide the basics.This is an entirely free service. So worldwide, 96% of Iron Mountain’s facility have remained open. https://wealthyretirement.com/testimonials/testimonial-1/ Revenue grew 8.4% year over year, and From 2013-2017, Iron Mountain has been growing its revenue at an 8.3% annualized rate (based on 2017 guidance). "Marc - Really enjoyed your book. Retirement But due to a nationwide lockdown and the growing remote-work trend, those revenues have dried up. Iron Mountain's average lease has a three-year term, and the average item stored by the company has been there for 15 years. "Your articles are very helpful - keep up the good work.
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