Mainstreet Equity (TSE:MEQ) Shares Pass Above 200-Day Moving Average – What’s Next?

Mainstreet Equity Corp. (TSE:MEQ)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$192.82 and traded as high as C$203.85. Mainstreet Equity shares last traded at C$202.01, with a volume of 512 shares changing hands.

Wall Street Analyst Weigh In

Separately, Atb Cap Markets lowered Mainstreet Equity from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th.

Mainstreet Equity Price Performance

The company’s fifty day moving average is C$204.27 and its two-hundred day moving average is C$193.06. 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 firm has a market cap of C$1.93 billion, a price-to-earnings ratio of 15.35 and a beta of 1.63.

Mainstreet Equity Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 payout ratio is currently 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.