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

Mainstreet Equity Corp. (TSE:MEQ)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as C$201.16 and last traded at C$201.16, with a volume of 10711 shares traded. The stock had previously closed at C$198.84.

Analyst Ratings Changes

A number of research analysts recently issued reports on MEQ shares. Acumen Capital lifted their price target on shares of Mainstreet Equity from C$210.00 to C$220.00 in a research note on Wednesday, July 24th. ATB Capital increased their price objective on Mainstreet Equity from C$200.00 to C$215.00 in a report on Wednesday, July 24th.

Mainstreet Equity Price Performance

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$1.90 billion, a price-to-earnings ratio of 15.12 and a beta of 1.63. The company’s 50 day moving average is C$193.79 and its 200 day moving average is C$182.85.

Mainstreet Equity (TSE:MEQ) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported C($1.70) earnings per share for the quarter, missing the consensus estimate of C$2.42 by C($4.12). The firm had revenue of C$63.32 million during the quarter, compared to analyst estimates of C$62.35 million. Mainstreet Equity had a net margin of 52.74% and a return on equity of 9.38%. Research analysts anticipate that Mainstreet Equity Corp. will post 8.1910619 EPS 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 issued a $0.027 dividend. This represents a $0.11 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date is Thursday, October 17th. Mainstreet Equity’s dividend payout ratio (DPR) 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.