Public Storage Shares Surpass Analyst Target: What It Means for Investors

In recent trading, shares of Public Storage (Symbol: PSA) have crossed above the average analyst 12-month target price of $346.24, changing hands for $347.83/share. When a stock reaches the target set by analysts, they face two options: downgrade due to valuation or raise their target price. The analyst’s decision may hinge on positive business developments that have propelled the stock price upward — if the company’s outlook is strong, increasing the target price could be warranted.

Diverse Analyst Opinions Provide Insight

Seventeen different analysts contribute to the average target for Public Storage. While the average stands at $346.24, individual targets vary significantly. For example, one analyst has projected a lower price of $298.00, while another has set a target as high as $388.00. The standard deviation among these estimates is $27.369, indicating a range of opinions within the analyst community.

Assessing The Next Steps for PSA Investors

Investors often consider the average price target as a reflection of collective expert opinion. With PSA now exceeding this benchmark, existing shareholders may need to evaluate whether this price is just a stepping stone toward even greater heights or if it’s time to take some profits. Below is a table showing the current thinking of the analysts that cover Public Storage:

The average rating presented above ranges from 1 (Strong Buy) to 5 (Strong Sell). This article utilized data from Zacks Investment Research via Quandl.com. For the latest research report on PSA, access it for free.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.