We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Iron Mountain Commences Project Work for US Department of Treasury
Read MoreHide Full Article
Key Takeaways
IRM has begun a $140M digital project for the U.S. Treasury using its intelligent digitization platform.
IRM plans to bid on a five-year Treasury contract that could consolidate the current April-awarded project.
New U.S. government digitization deals showcase IRM's execution strength and support future growth.
Iron Mountain (IRM - Free Report) recently updated that it has commenced working on a digital transformation project for the U.S. Department of Treasury. Per the first-quarter 2025 Investor Presentation, the contract under consideration was awarded to the company in late April 2025, with a total value amounting to around $140 million.
Iron Mountain is actively curating to the requirements of the project through its proprietary intelligent digitization solution, given its time-critical nature. The company is receiving compensation for the same, but this benefit is not included in its 2025 financial guidance.
The company further highlighted that earlier this week, the U.S. Department of Treasury came out with a Request for Quotations (“RFQ”) for another new digitization project with a long-time horizon of five years and an expanded scope of work.
Iron Mountain is keen to participate in the above larger and longer duration contract. Given its experience of successful completion of a number of such digital transformation projects for the U.S. Government, along with the current ongoing one, Iron Mountain feels confident that it will be able to deliver to the U.S. Government a superior end-to-end solution that can fully support this efficiency initiative.
Iron Mountain is in the process of responding to the RFQ and anticipates submitting the same before the government’s deadline of July 11, 2025. If this contract is awarded to Iron Mountain, it will simultaneously incorporate the ongoing April contract.
IRM: In a Nutshell
The above digitization contracts for the U.S. Government awarded to Iron Mountain exemplify the efficiency and quality work that the company is delivering, which will aid revenue growth and shareholders’ wealth creation.
Iron Mountain is a global market leader in the core storage and records management business, both physical and digital. The company serves more than 240,000 clients across different industries and geographical locations.
Iron Mountain’s Project Matterhorn has helped it shift from a product-based to a solution-based sales approach to better serve its customers’ needs, aiding significant growth in digital solutions, data center and asset lifecycle management businesses.
Shares of IRM have rallied 16.1% over the past three months compared to the industry’s fall of 0.9%. Analysts seem bullish on this Zacks Rank #2 (Buy) company. The Zacks Consensus Estimate for its 2025 FFO per share indicates a favorable outlook as it has moved marginally northward over the past month to $5.01.
The Zacks Consensus Estimate for VICI Properties’ 2025 FFO per share is pegged at $2.34, up 3.54% year over year.
The Zacks Consensus Estimate for W.P. Carey’s 2025 FFO per share is pegged at $4.88, up 3.83% year over year.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Iron Mountain Commences Project Work for US Department of Treasury
Key Takeaways
Iron Mountain (IRM - Free Report) recently updated that it has commenced working on a digital transformation project for the U.S. Department of Treasury. Per the first-quarter 2025 Investor Presentation, the contract under consideration was awarded to the company in late April 2025, with a total value amounting to around $140 million.
Iron Mountain is actively curating to the requirements of the project through its proprietary intelligent digitization solution, given its time-critical nature. The company is receiving compensation for the same, but this benefit is not included in its 2025 financial guidance.
The company further highlighted that earlier this week, the U.S. Department of Treasury came out with a Request for Quotations (“RFQ”) for another new digitization project with a long-time horizon of five years and an expanded scope of work.
Iron Mountain is keen to participate in the above larger and longer duration contract. Given its experience of successful completion of a number of such digital transformation projects for the U.S. Government, along with the current ongoing one, Iron Mountain feels confident that it will be able to deliver to the U.S. Government a superior end-to-end solution that can fully support this efficiency initiative.
Iron Mountain is in the process of responding to the RFQ and anticipates submitting the same before the government’s deadline of July 11, 2025. If this contract is awarded to Iron Mountain, it will simultaneously incorporate the ongoing April contract.
IRM: In a Nutshell
The above digitization contracts for the U.S. Government awarded to Iron Mountain exemplify the efficiency and quality work that the company is delivering, which will aid revenue growth and shareholders’ wealth creation.
Iron Mountain is a global market leader in the core storage and records management business, both physical and digital. The company serves more than 240,000 clients across different industries and geographical locations.
Iron Mountain’s Project Matterhorn has helped it shift from a product-based to a solution-based sales approach to better serve its customers’ needs, aiding significant growth in digital solutions, data center and asset lifecycle management businesses.
Shares of IRM have rallied 16.1% over the past three months compared to the industry’s fall of 0.9%. Analysts seem bullish on this Zacks Rank #2 (Buy) company. The Zacks Consensus Estimate for its 2025 FFO per share indicates a favorable outlook as it has moved marginally northward over the past month to $5.01.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader REIT sector are VICI Properties (VICI - Free Report) and W.P. Carey (WPC - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for VICI Properties’ 2025 FFO per share is pegged at $2.34, up 3.54% year over year.
The Zacks Consensus Estimate for W.P. Carey’s 2025 FFO per share is pegged at $4.88, up 3.83% year over year.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.