If you’re looking for safety in a rocky market, keep an eye on dividend stocks.
Look at Iron Mountain (IRM), for example.
With a yield of 2.66%, it’s benefiting from the surge of demand for artificial intelligence data centers. Helping, analysts at Stifel just raised their price target on IRM to $103 from $86 a share, with a buy rating. Plus, earnings are still solid.
In its first quarter, the REIT reported funds from operations of $1.10, which beat by 18 cents. Revenue of $1.48 billion, up 12% year over year, beat by $30 million. Better, the REIT carries a yield of 2.66% at the moment. It also just paid a quarterly cash dividend of 65 cents, which was paid out on July 5 for the second quarter.