Iron Mountain Incorporated

IRM
Real Estate
$115.46
2.92%Overvalued

Iron Mountain Incorporated (IRM) is a Real Estate company that currently yields 2.92% — historically overvalued based on 10 years of dividend yield history. The Weiss valuation model places the undervaluation threshold at $31.07 and the overvaluation threshold at $112.92. Iron Mountain Incorporated holds a quality score of 35/100 (Risky), reflecting 10 consecutive years of dividend growth. The 5-year dividend CAGR stands at 5.4%.

IRM Dividend Yield History — Weiss Valuation

Underval. $31.07Overval. $112.92

Distance to undervalued

Entry price is stretched

Needs 73.1% downside to reach the Weiss buy zone

Undervaluation starts near $31.07, where the annual dividend would imply roughly 10.87% yield. That is 7.94% above today's yield.

Buy-zone price

$31.07

Target yield

10.87%

Research checklist

What to clear before buying the yield

Updated Jul 9, 2026

Dividend durability

10Y

Long dividend history supports a deeper look.

Earnings payout

358%

Coverage deserves a closer look in filings.

Cash payout

N/A

Confirm cash conversion and one-off effects.

Dividend growth

5.4%

Recent growth adds income compounding potential.

What changed

What changed since the last update

2026-07-082026-07-09

No major change in signal, yield, price, quality, or payout since the last update.

Why Now?

Iron Mountain Incorporated is trading near its historical overvaluation band.

Current yield 2.9% vs historical max 10.9% (27% of maximum).

10 consecutive years without a dividend cut.

Elevated payout ratio of 358%.

What matters now

Read the signal before the headline yield

Valuation is the brake here: the yield is compressed versus its own history.

The 35/100 quality score says the headline yield needs extra skepticism.

The earnings payout ratio is above 100%, so coverage is the first risk to unpack.

IRM Dividend Income Projection — DRIP Compounder

Dividend Compounder (DRIP)

$

Year 1 Income

$308

Year 10 Income

$695

Yield on Cost

7.29%

Total Income

$4,730

Assumes dividends reinvested at current price. Simplified model — for illustrative purposes only.

Track actual vs. projected

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More research

Full price history & technical analysis

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Fundamentals, valuation & analyst ratings

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Moat rating & analyst fair value

Morningstar ↗

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IRM Dividend Quality Score

Quality Score

35/ 100

Risky

Payout Ratio0/25
Dividend Streak20/25
Growth (CAGR 5Y)15/20
Yield vs History0/15
FCF Coverage0/15

Key Metrics

Current Price$115.46
Annual Dividend$3.38
Current Yield2.92%
Yield — Max (10Y)10.87%
Yield — Min (10Y)3.19%
Undervalued Below$31.07
Overvalued Above$112.92
Payout Ratio358.48%
CAGR Dividend 5Y5.4%
CAGR Dividend 10Y5.4%
Years No Cut10y

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10
consecutive years of dividend growth
IRM Dividend Analysis — Iron Mountain Incorporated | DividendVisual