Iron Mountain

IRM

Market cap $37.9B

Smart money is piling into data centers and senior housing. One top activist REIT investor is making contrarian bets. INVH and NHI could be overlooked beneficiaries.

Iron Mountain (IRM) possesses solid growth attributes, which could help it handily outperform the market.

April 2026 delivered another major milestone for the portfolio. We posted an insane 80% year-over-year increase. In April 2026, I received $1,742.78 in dividend income compared to $968.18 in April 2025. Looking beyond just April, the full 2026 dividend income picture continues to trend dramatically ahead of 2025. The portfolio is producing significantly more cash flow through the first four months of the year.

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

Data center REITs have delivered sector-leading, consistent outperformance, driven by secular tailwinds like AI, cloud computing, and digital transformation. DLR, EQIX, and IRM are trading at premium valuations, reflecting strong fundamentals, but current multiples suggest waiting for a pullback before adding exposure. American Tower is the top pick for new data center exposure, offering integrated connectivity and compute, trading at a discount with a 4% yield and significant upside potential.

REITs may be emerging from a brutal multi-year downturn. Falling supply and stabilizing rates could drive recovery. Valuations and buyouts signal strong upside ahead.

The AI buildout continues to benefit many companies, with these three posting record results while also delivering bullish guidance thanks to the favorable trends.

Not Every REIT Joined The Rally: Part 2 focuses on laggards and in-line performers - sectors where recovery timelines slipped, results underwhelmed, or elevated rates exposed lingering balance sheet issues. Weakness centered on Farmland, Commercial Mortgage, Lab Space, and Self-Storage REITs, where delayed troughs, credit provisions, book-value pressure, weak rents, and refinancing constraints persisted. Mortgage Stress Hasn't Fully Cleared: Commercial mortgage REITs still faced multifamily bridge-loan and office credit stress, while residential mortgage REITs saw book values pressured by rate volatility and uneven dividend-coverage.

REIT earnings results were considerably better than consensus expectations, with 58 REITs - or 59% - raising full-year FFO guidance, well above the typical Q1 raise rate of 40-45%. REITs have extended their year-to-date outperformance despite the recent jump in interest rates, as better earnings results and improving property-level trends helped offset renewed macro pressure. Upside standouts included Hotel, Senior Housing, Data Center, Billboard, Cold Storage, Net Lease, and Retail REITs. Residential REITs saw improving rent growth trends as supply growth finally eases.

OUTFRONT Media's Q1 AFFO beat estimates as transit revenues jump 22.3% and billboard yield improves, lifting margins and cash flow.