35 AI News You Should Not Miss

34. Iron Mountain Incorporated (NYSE:IRM)

Number of Hedge Fund Holders: 24

Iron Mountain Incorporated (NYSE:IRM) is a real estate investment trust that focuses on storage and information management services. In recent quarters, the company’s data center storage revenue has emerged as its fastest-growing segment, achieving a 30% year-over-year growth. It currently operates 26 data center hosting facilities, up from 24 the previous year, indicating continued expansion. Additionally, the company leases 260 megawatts of electricity to its customers, catering to the growing power demands of AI-driven infrastructure.  Stifel analyst Shlomo Rosenbaum recently raised the price target on the stock to $140 from $117 and kept a Buy rating on the shares. After spending time with the company’s CFO in investor meetings, the advisory has increased confidence that the upper-single-digit to low-double-digit revenue growth rate the company has been experiencing for the last several years should be sustainable for an extended period of time. In a research note, the advisory said it is assuming that the appeal of the company will extend beyond the REIT investor group that have pushed the stock up recently.