Mainstreet Equity (TSE:MEQ) Reaches New 12-Month High at $198.50

Mainstreet Equity Corp. (TSE:MEQ)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$198.50 and last traded at C$197.85, with a volume of 276 shares changing hands. The stock had previously closed at C$199.50.

Analyst Upgrades and Downgrades

MEQ has been the topic of several analyst reports. Acumen Capital upped their target price on shares of Mainstreet Equity from C$210.00 to C$220.00 in a report on Wednesday, July 24th. ATB Capital upped their price objective on shares of Mainstreet Equity from C$200.00 to C$215.00 in a research note on Wednesday, July 24th.

Mainstreet Equity Trading Down 2.5 %

The business has a 50 day simple moving average of C$186.44 and a 200 day simple moving average of C$179.77. The company has a debt-to-equity ratio of 117.76, a current ratio of 0.40 and a quick ratio of 0.81. The company has a market cap of C$1.80 billion, a price-to-earnings ratio of 14.69 and a beta of 1.65.

Mainstreet Equity (TSE:MEQ) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported C($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.42 by C($4.12). Mainstreet Equity had a return on equity of 9.38% and a net margin of 52.74%. The company had revenue of C$63.32 million for the quarter, compared to analyst estimates of C$62.35 million. As a group, equities analysts forecast that Mainstreet Equity Corp. will post 9.258306 EPS for the current year.

Mainstreet Equity Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th were issued a $0.027 dividend. This represents a $0.11 annualized dividend and a yield of 0.06%. The ex-dividend date was Wednesday, July 17th. Mainstreet Equity’s dividend payout ratio is 0.81%.

About Mainstreet Equity

Mainstreet Equity Corp. engages in the acquisition, redevelopment, repositioning, and management of mid-market residential rental apartment buildings in Western Canada. The company owns a portfolio of multi-family residential properties in British Columbia, Calgary, Edmonton, Saskatoon, Regina, and Winnipeg.