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Iron Mountain Adds Shredding Services for Federal Agencies

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Iron Mountain Incorporated (IRM - Free Report) recently announced the addition of Secure Shredding Services to its General Services Administration (GSA) Schedule 36. It is available under Special Item Number 51-507 for Destruction Services. The move boosts privacy and security of Federal Agencies and is aimed at ensuring that information is appropriately destroyed in a secure manner.

The latest action indicates the company’s focus to continuously enhance its Federal business. Apart from the addition of secure shredding services, the company has beefed up its offering with Data-Center Services, in recent months. These efforts will help agencies modernize infrastructure, optimize efficiency metrics, and strategically reduce public sector costs.

Iron Mountain, with its offerings, remains well poised to capitalize on demand for record management at government agencies throughout the full information lifecycle, right from creation to destruction.

Particularly, the shredding service offerings include both Scheduled and Purge services provided on and offsite. For conducting offsite shredding services, employees of the company transport materials securely from the customer site to an Iron Mountain shred facility for destruction.

For onsite shredding services, personnel from Iron Mountain assemble and dispose stuff at the customer site in the company's secure Mobile Shredding Unit. These offerings can be availed in different container sizes, such as box, mini-console, console, 65-gallon bin and 95-gallon bin.

Shares of this Zacks Rank #2 (Buy) company have outperformed the industry it belongs to, over the past month. Its shares have gained 6.8%, while the industry has recorded growth of 1.7% during this time frame.

Other Key Picks

Similarly-ranked stocks from the REIT space are Alexandria Real Estate Equities, Inc. (ARE - Free Report) , PS Business Parks, Inc. (PSB - Free Report) and Boston Properties, Inc. (BXP - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Alexandria Real Estate Equities’ FFO per share estimates for 2018 has been revised marginally upward to $6.61 in 90 days’ time.

PS Business Parks’ Zacks Consensus Estimate for 2018 FFO per share moved up 0.9% to $6.45 in the last month.

Boston Properties’ FFO per share estimates for 2018 has been revised marginally north to $6.39 north in seven days’ time.

Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

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