5 Best Data Center REIT Dividend Stocks to Buy

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1. Iron Mountain Incorporated (NYSE: IRM)

Number of Hedge Fund Holders: 25
Dividend Yield: 5.01%

Iron Mountain Incorporated (NYSE: IRM) is a global leader in the storage and management of information. The company ranks 1st on our list of the best data center REIT dividend stocks to buy and is based in Boston.

Wells Fargo holds an Overweight rating on shares of Iron Mountain Incorporated (NYSE: IRM) as of this February, and has also raised the price target on the stock from $32 to $38.

In the second quarter of 2021, Iron Mountain Incorporated (NYSE: IRM) had an FFO of $0.69, beating estimates by $0.05. The company’s revenue was $1.12 billion, up 14% year over year and beating estimates by $25.69 million. Iron Mountain Incorporated (NYSE: IRM) has gained 41.41% in the past 6 months and 72.30% year to date.

By the end of the second quarter of 2021, 25 hedge funds out of the 873 tracked by Insider Monkey held stakes in Iron Mountain Incorporated (NYSE: IRM) worth roughly $81.9 million. This is compared to 16 hedge funds in the previous quarter with a total stake value of approximately $56.3 million.

See also 10 Best Data Center Stocks To Buy Now and 10 Best Climate Change Stocks to Buy Now.

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