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Iron Mountain Completes Digital Recording of Stonewall Inn

Zacks Equity Research

Iron Mountain Inc. IRM and CyArk have recently completed a 3D scan of the iconic Stonewall National Monument in New York, site of the 1969 Stonewall Uprising. The latest effort is part of the ongoing partnership between the companies to digitally capture, archive and share the historical heritage site.

Through this project, Iron Mountain has created an experiential record to preserve the cultural monument and make it accessible to visitors across the globe.

While CyArk documented the Stonewall National Monument, consisting of the Stonewall Inn and Christopher Park, Iron Mountain provided its facilities to preserve the digital copies of the monument.  

Specifically, a 3D mapping technology was used to create a comprehensive record of the site. Subsequently, the digital copies are preserved in a highly secure Iron Mountain facility for future use by CyArk.

The project used data to create a photorealistic digital archive of Christopher Park and the Stonewall Inn. It will be available on CyArk's website and can be downloaded through the Open Heritage 3D platform, a project by CyArk, the University of South Florida Libraries and Historic Environment Scotland to provide free access to high resolution 3D data of cultural heritage sites globally.

Additionally, the scan has been integrated into both virtual reality and augmented reality. The virtual reality format allows viewers to move around within the scan, providing an interactive photorealistic experience. Further, the augmented reality format offers pre-recorded stories and perspectives from those who were accompanying the scan.

Iron Mountain and CyArk had earlier joined hands to record the moai of Easter Island, Fort York, Toronto; the Palacio de Bellas Artes, Mexico City; and the Royal Exhibition Building, Melbourne, Australia.

Other than its preservation efforts, the company is focusing on inorganic growth strategies to strengthen its foothold in targeted markets. Recently, it announced the acquisition of InfoZafe’s storage and information management services to boost its Thai business. 

Although such moves are likely to bolster its top line, the competitive landscape of the storage and information management services industry is anticipated to result in aggressive pricing, which may adversely impact Iron Mountain’s margins in the near term. 

Moreover, shares of this Zacks Rank #4 (Sell) company have declined 13.3% over the past three months as against the industry’s growth of 0.4%. 

Key Picks

Investors can consider better-ranked stocks from the same space like Host Hotels & Resorts, Inc. HST, Lamar Advertising Co. LAMR and PS Business Parks, Inc. PSB, each carrying a Zacks Rank of 2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Host Hotels & Resorts’ funds from operations (FFO) per share estimates for 2019 moved marginally north to $1.82 over the past two months.

Lamar Advertising’s FFO per share estimates for the ongoing year have been revised slightly upward to $5.83 over the past 30 days.

PS Business Parks’ current-year FFO per share estimates moved up marginally to $6.71 in the past month.

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