Earnings Surprise Leads to 10% Surge... Attention on U.S. 'Document Storage' REITs

Iron Mountain Inc. (NYSE: IRM) jumped 10.02% to close at $125.99 on the New York Stock Exchange on the 30th. Its market capitalization swelled by roughly $4.2 billion in a single day—about ₩5 trillion—to reach $37.4 billion (around ₩52 trillion), while trading volume climbed past 2.88 million shares, well above its average.

Analysts attribute the surge to first-quarter results that far exceeded market expectations and to upward revisions in both second-quarter and full-year guidance. The company reported a substantial year-over-year increase in first-quarter net income and declared a quarterly dividend of $0.864 per share. During intraday trading, the stock approached its 52-week high, and firms such as Truist have maintained a Buy rating with a $130 price target, citing strong data-center growth prospects. ()

Founded on corporate document and records storage, Iron Mountain has evolved into a global information-management REIT operating physical archives, digital information management services, and data centers. With many Fortune 1000 companies among its clients, it is rapidly expanding its data-center and digital-services segments—targeting cloud and security demand—alongside its traditional storage business. ()