Iron Mountain Incorporated (NYSE:IRM) is one of the Best Data Center REITs to Buy According to Analysts..
It is an REIT that specializes in information management services, operating through its Global Records and Information Management (RIM) and Global Data Center segments
Recently, on May 1, Truist analyst Tobey Sommer raised the firm’s price target for Iron Mountain Incorporated (NYSE:IRM) from $130 to $140 and maintained a Buy rating on the shares. The rating follows the company’s fiscal Q1 2026 earnings, released on April 30. During the quarter, the company posted $1.94 billion in revenue, up 21.58% year-over-year and ahead of expectations by $74.59 million.
Moreover, the GAAP EPS of $0.48 also topped the expectations by $0.06. Notably, the Data Center revenue for the quarter grew 47% year-over-year to $255 million, driven by an increase in leasing, pricing, and power ramping. Truist noted that the data center lease trend is expected to drive the stock price higher due to a larger total addressable market.