Iron Mountain Shares Jump 19.5% on Data Center Growth to 1.3 GW
Iron Mountain shares have climbed 19.5% over the past three months versus a 2.3% industry gain, driven by robust storage cash flows and a data center portfolio that reached 488 MW at 97% capacity, set to expand to 1.3 GW. First-quarter 2026 AFFO estimates rose 3% to $1.39 per share.
1. Stock Performance
Iron Mountain shares have jumped 19.5% over the past three months compared to the industry’s 2.3% growth, reflecting increased investor confidence in its core storage and data center businesses.
2. Data Center Expansion
The company’s data center segment ended Q4 2025 with 488 MW of capacity leased at 97%, and management plans to expand total capacity to 1.3 GW, targeting over 25% revenue growth in 2026 following a 30% increase in 2025.
3. Financial Guidance and Acquisitions
First-quarter 2026 AFFO per share estimates were raised by 3% to $1.39, while the September 2025 acquisition of ACT Logistics is expected to support approximately $850 million in ALM revenues for 2026, strengthening international market presence.
4. Dividend and Balance Sheet
Iron Mountain raised its quarterly dividend by 10% to $0.864 per share in November 2025, marking the fourth straight annual increase, and ended Q4 with net lease-adjusted leverage of 4.9x and a debt maturity of 4.6 years to support growth.