Mainstreet Equity (TSE:MEQ) Hits New 1-Year High – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ) shares hit a new 52-week high during trading on Friday . The stock traded as high as C$207.39 and last traded at C$207.39, with a volume of 1958 shares changing hands. The stock had previously closed at C$203.95.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Acumen Capital raised their target price on Mainstreet Equity from C$210.00 to C$220.00 in a research report on Wednesday, July 24th. ATB Capital boosted their target price on Mainstreet Equity from C$200.00 to C$215.00 in a research note on Wednesday, July 24th.

Mainstreet Equity Trading Up 1.7 %

The company has a 50 day simple moving average of C$195.10 and a 200 day simple moving average of C$183.58. The company has a current ratio of 0.40, a quick ratio of 0.81 and a debt-to-equity ratio of 117.76. The stock has a market capitalization of C$1.93 billion, a PE ratio of 15.10 and a beta of 1.63.

Mainstreet Equity (TSE:MEQ) last released its 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 business had revenue of C$63.32 million for the quarter, compared to analyst estimates of C$62.35 million. Analysts predict that Mainstreet Equity Corp. will post 8.1910619 earnings per share for the current fiscal year.

Mainstreet Equity Announces Dividend

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