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Analysts told investors that IRM’s second-quarter results included key financials that were ahead of expectations.
“IRM increased its quarterly dividend per share by 5% to $0.65 per share. Our 2023 estimates are revenue/EBITDA/ AFFO per share of $5.58B/$1.97B/$4.00 (previous: $5.56B/$1.95B/$3.96),” the analysts wrote.
“We are increasing our PT to $68 (from $58) on a combination of 2Q results flow-through, roll-forward impacts in our updated model, and less conservative valuation metrics,” they added.
The analysts also noted the company’s strong demand and pricing trends, as well as its “attractive” dividend payout and growth prospects.
