Blackrock’s 30 Most Important AI Stocks

27. Iron Mountain Incorporated (NYSE:IRM)

Number of Hedge Fund Holders: 30

Iron Mountain Incorporated (NYSE:IRM) is a real estate investment trust that focuses on storage and information management services. The company’s appeal as an investment is driven by a multitude of contributing factors. Firstly, as per the report of the third quarter of 2024, adjusted EBITDA was $568.1 million, compared with $500 million in the third quarter of 2023, an increase of 13.6%. On a constant currency basis, Adjusted EBITDA increased by 13.9% in the third quarter, compared to the third quarter of 2023, driven by increased revenue in Global RIM, ALM, and data center. Secondly, the company has launched a new Digital Human Resources (HR) solution to revolutionize HR operations. This may be an attractive opportunity for investors as it aims to revolutionize HR departments by providing secure employee file management in a centralized platform so that both physical and digital documentation is complete, up-to-date, and in compliance with employee records requirements. Moreover, Iron Mountain has released its new InSight Digital Experience Platform (DXP), a secure software-as-a-service (SaaS) solution designed to help organizations handle their physical and digital information. These promising AI-integrated initiatives will revolutionize the system and hold the potential to drive substantial growth in this technologically driven world.