Mainstreet Equity (TSE:MEQ) Price Target Raised to C$215.00

Mainstreet Equity (TSE:MEQ) had its target price increased by ATB Capital from C$200.00 to C$215.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.

Mainstreet Equity Trading Up 0.6 %

Shares of MEQ opened at C$191.65 on Wednesday. The firm’s 50-day moving average price is C$170.77 and its 200-day moving average price is C$171.41. The firm has a market capitalization of C$1.79 billion, a price-to-earnings ratio of 10.94 and a beta of 1.55. The company has a current ratio of 1.00, a quick ratio of 0.81 and a debt-to-equity ratio of 119.54. Mainstreet Equity has a 1-year low of C$130.00 and a 1-year high of C$194.57.

Mainstreet Equity (TSE:MEQ) last posted its quarterly earnings data on Tuesday, May 7th. The company reported C$3.61 EPS for the quarter, topping the consensus estimate of C$1.99 by C$1.62. Mainstreet Equity had a net margin of 74.24% and a return on equity of 12.47%. The business had revenue of C$61.25 million for the quarter, compared to analyst estimates of C$58.95 million. Sell-side analysts anticipate that Mainstreet Equity will post 7.1907783 EPS for the current year.

Mainstreet Equity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 17th will be paid a dividend of $0.027 per share. This represents a $0.11 annualized dividend and a yield of 0.06%. The ex-dividend date is Wednesday, July 17th. Mainstreet Equity’s payout ratio is currently 0.63%.

Insider Buying and Selling

In other Mainstreet Equity news, Director Ron Anderson acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average price of C$175.20 per share, with a total value of C$87,600.00. 48.94% of the stock is currently owned by insiders.

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.