Iron Mountain Incorporated (IRM - Free Report) recently added data-center colocation and network services to its offering in the company's Schedule 36 vehicle contract with the General Services Administration (GSA), under Special Item Number 51-600 for Electronic Records Management Solutions.
The company will also provide networking services, like Internet access of speed ranging from 10Mbps to 10Gbps, dark fiber in selective sites and support for cross connects. Moreover, customers with colocation service needs at locations not covered by the GSA may use Iron Mountain’s pre-existing direct sales channels.
Amid heightening need for more secure, reliable and flexible data-center solutions, this service will aid the company to meet IT demand of federal agencies. In fact, it complements the digital transformative initiatives undertaken by government agencies and also assists in Data Center Optimization Initiative (DCOI) compliance.
Pe management, the latest move indicates the company’s focus to continuously grow its Federal business. In addition, with solid relationship at all cabinet levels and an impressive success rate in the company’s federal business, the move will enhance critical protection of federal customers’ IT assets.
Also, it will drive modernization of complex IT systems and result in optimum utilization of the company’s data-center offerings. Notably, the company’s enhanced offering to GSA Schedule is in line with its recent efforts to penetrate the segment.
In fact, in second-quarter 2018, it witnessed additional volume from new customers, leading to the expansion of its portfolio in Northern Virginia. Hence, focus to enhance services and attract federal customers is a strategic fit for Iron Mountain.
Shares of this Zacks Rank #3 (Hold) company have outperformed the industry it belongs to, over the past six months. Its shares have gained 10.5%, while the industry has recorded growth of 7.1% during this time frame.
Additionally, the Zacks Consensus Estimate for its 2018 funds from operations (FFO) per share has been revised marginally upward over the last month, reflecting analysts’ bullish sentiments.
Better-ranked stocks from the REIT space include VICI Properties (VICI - Free Report) , Park Hotels and Resorts, Inc. (PK - Free Report) and W.P. Carey Inc. (WPC - Free Report) . All three stocks carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
VICI Properties’ Zacks Consensus Estimate for 2018 FFO per share has been revised upward by a cent to $1.50 over the past 60 days. Its shares have gained 8.7% in the past six months.
Park Hotels and Resorts’ FFO per share estimates for 2018 witnessed 2% upward revision to $2.93 in a month’s time. Its shares have appreciated 23.6% over the past six months.
W.P.Carry’s FFO per share estimates for the current year moved up marginally in the past 30 days to $6.39. The stock has rallied 5.9% in six months’ time.
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