Mainstreet Equity (TSE:MEQ) Hits New 52-Week High – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$211.42 and last traded at C$211.00, with a volume of 1739 shares changing hands. The stock had previously closed at C$212.58.

Analyst Upgrades and Downgrades

Separately, Atb Cap Markets cut shares of Mainstreet Equity from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th.

Mainstreet Equity Stock Performance

The stock has a market capitalization of C$1.96 billion, a P/E ratio of 15.62 and a beta of 1.63. The company has a debt-to-equity ratio of 117.76, a quick ratio of 0.81 and a current ratio of 0.40. The company’s fifty day simple moving average is C$202.56 and its two-hundred day simple moving average is C$189.80.

Mainstreet Equity Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th were issued a dividend of $0.027 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $0.11 annualized dividend and a dividend yield of 0.05%. Mainstreet Equity’s dividend payout ratio is presently 0.81%.

Mainstreet Equity Company Profile

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.