AlphaMadera's AlphaVal page classifies Iron Mountain Incorporated as a Real Estate Investment Trust business and values it using P/FFO × Specialty REIT Multiple, then compares the result to the current market price to flag IRM as undervalued, fairly valued, or overvalued.

What is Iron Mountain Incorporated's fair value?

Fair value for IRM comes from a P/FFO × Specialty REIT Multiple model -- the approach AlphaVal selected for this company's Real Estate Investment Trust classification. The live AlphaVal page shows bear, base, and bull scenarios alongside the key assumption behind each.

How does AlphaMadera value IRM?

AlphaVal routes each company to one of ten valuation archetypes based on its business model. IRM was classified as Real Estate Investment Trust and is valued using P/FFO × Specialty REIT Multiple, built from IRM's most recent reported fundamentals.

IRM - Iron Mountain Incorporated

Price: -- -- | CONSENSUS: Buy DETAILS | PRICE TARGET: $142.75 DETAILS

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Specialty REIT Multiple

Valuation Signal Undervalued Moderate

Trading 39.8% below fair value

Current Price $114.72

Bear Case $158.82 38.4% upside ($158.82 - $114.72) / $114.72 = 38.4% $4.04 FFO × 25x

Fair Value $190.43 66.0% upside ($190.43 - $114.72) / $114.72 = 66.0% $4.04 FFO × 31x

Bull Case $222.05 93.6% upside ($222.05 - $114.72) / $114.72 = 93.6% $4.04 FFO × 36x

Adjust Assumptions

P/FFO Multiple

30.7x

FFO per Share

4.04$

Key Value Driver

FFO/share ($4.04) × specialty P/FFO multiple

Terminal Value % of EV

Implied Market Multiple 28.4x

Market is pricing in (growth)

Plain-Language Summary

At $4.04 FFO/share with a 31x specialty REIT multiple, the base-case value is $190.43 per share. Dividend yield: 3.0%. DDM cross-check: $345.81.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (21 analysts) $142.75

Analyst Range $132.00 – $155.00

Divergence from AlphaVal 33%

Warnings

⚠ Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.

ℹ Dividend-based valuation: $345.81 (82% above our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.

ℹ Wall Street's average price target is $142.75 (from 21 analysts). Our estimate is 33% above the consensus -- consider that gap carefully.

Key Risks

P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
Interest rate sensitivity: REIT multiples compress when rates rise
FFO approximation (NI + D&A) may include gains on property sales — verify