Data as of the October 19, 2026 close. Every figure on this page is checked against at least two independent sources, or two separate SEC filings, before it is published. How we verify data.
Iron Mountain (IRM) and Equinix (EQIX) are both listed REITs, with Iron Mountain classed as Records & Data Centers and Equinix as Colocation & Interconnection. Here is how they compare on verified numbers as of the October 19, 2026 close, from dividends and debt to rate sensitivity and returns this year.
| Measure | Iron Mountain (IRM) | Equinix (EQIX) |
|---|---|---|
| Share price | $111.55 | $975.71 |
| Market cap | $33.2B | $96.3B |
| Dividend yield | 3.10% | 2.12% |
| Annual dividend per share | $3.46 | $20.64 |
| Pays | Quarterly | Quarterly |
| Consecutive years of dividend increases | 3 | 9 |
| Dividend growth per year, 2020 to 2025 | 5.5% | n/a |
| Dividend increase in 2026 (confirmed in filings) | No increase | +10.0% |
| Liabilities to assets | 104.1% (June 30) | 64.9% (June 30) |
| Revenue growth, latest quarter vs a year earlier | +18.5% | +16.4% |
| Price change year to date | +34.5% | +27.4% |
| Price change since Sept. 15 | -0.4% | -3.1% |
| 52-week range (closing) | $78.86 to $133.06 | $726.09 to $1,115.94 |
| Typical move per 0.25-point rise in the 10-year yield | -4.4% | -2.8% |
| REIT Rankings grade | B 75 | B 84 |
| Third-quarter 2026 results | Not yet filed; page updates when it is | Not yet filed; page updates when it is |
Who Leads on Each Measure
| Measure | Leader |
|---|---|
| Higher dividend yield | Iron Mountain |
| Longer dividend growth streak | Equinix |
| Lower leverage | Equinix |
| Less sensitive to rising rates | Equinix |
| Better price change this year | Iron Mountain |
| Higher REIT Rankings grade | Equinix |
Where They Differ
Iron Mountain pays the higher yield, 3.10% against 2.12% for Equinix. Equinix has the longer record of raising its dividend, 9 straight years against 3. Iron Mountain carries more leverage, with liabilities equal to 104.1% of assets against 64.9%. Over the past year Iron Mountain has been more sensitive to Treasury yields, typically moving -4.4% for each 0.25-point rise in the 10-year yield against -2.8% for Equinix. This year Iron Mountain shares have moved +34.5% and Equinix shares +27.4%.
Read the full profiles for portfolio, tenant and balance sheet detail: Iron Mountain and Equinix.
How These Numbers Are Checked
Prices, returns and 52-week ranges are computed separately from Nasdaq and Cboe records and must agree. Dividend rates are checked against the per-share dividends in each company’s latest 10-Q, growth streaks against their 10-K filings, and leverage and revenue come from the balance sheets and income statements filed with the SEC. Third-quarter results replace the latest-quarter figures as soon as each company files. How we verify data.
Frequently Asked Questions
Which pays a higher dividend, IRM or EQIX?
Iron Mountain yields 3.10% and pays $3.46 a share a year (quarterly); Equinix yields 2.12% and pays $20.64 (quarterly), as of October 19, 2026.
Which has raised its dividend longer, IRM or EQIX?
Iron Mountain: 3 consecutive years of increases; Equinix: 9 consecutive years of increases. Five-year dividend growth: 5.5% for Iron Mountain and n/a for Equinix.
Which has more debt, IRM or EQIX?
On the latest balance sheets, Iron Mountain’s liabilities equal 104.1% of total assets and Equinix’s equal 64.9%. Book leverage is one measure; debt maturities and interest coverage matter too.
Which is more sensitive to interest rates, IRM or EQIX?
Over the past year, Iron Mountain has typically moved -4.4% and Equinix -2.8% for each 0.25-point rise in the 10-year Treasury yield. Since September 15, 2026, Iron Mountain has moved -0.4% and Equinix -3.1%.
Is IRM or EQIX the better investment?
REIT Rankings does not make buy, sell or hold calls. On our grades, which measure dividend safety, balance sheet, portfolio, growth and valuation, Iron Mountain scores 75 and Equinix scores 84, so Equinix rates higher on business quality. Which suits you depends on whether you value current yield, dividend growth or lower rate risk more.
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REIT Rankings publishes data and grades, not investment advice. Nothing on this page is a recommendation to buy, sell or hold any security. Do your own research or consult a licensed advisor.