Mainstreet Equity (TSE:MEQ) Price Target Raised to C$220.00

Mainstreet Equity (TSE:MEQ) had its price target increased by Acumen Capital from C$210.00 to C$220.00 in a report released on Wednesday morning, BayStreet.CA reports.

Separately, ATB Capital raised their price target on shares of Mainstreet Equity from C$200.00 to C$215.00 in a report on Wednesday.

Mainstreet Equity Stock Performance

Mainstreet Equity stock opened at C$191.65 on Wednesday. The firm’s 50 day simple moving average is C$171.12 and its 200-day simple moving average is C$171.70. The company has a market cap of C$1.79 billion, a P/E ratio of 10.95 and a beta of 1.55. The company has a debt-to-equity ratio of 119.54, a current ratio of 1.00 and a quick ratio of 0.81. Mainstreet Equity has a fifty-two week low of C$130.00 and a fifty-two week high of C$194.57.

Mainstreet Equity (TSE:MEQ) last posted its quarterly earnings results 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. The business had revenue of C$61.25 million during the quarter, compared to analysts’ expectations of C$58.95 million. Mainstreet Equity had a net margin of 74.24% and a return on equity of 12.47%. As a group, equities research analysts predict that Mainstreet Equity will post 7.1907783 EPS for the current year.

Mainstreet Equity Dividend Announcement

The business 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 $0.027 dividend. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend is Wednesday, July 17th. Mainstreet Equity’s payout ratio is 0.63%.

Insider Buying and Selling

In other news, Director Ron Anderson purchased 500 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were bought at an average price of C$175.20 per share, with a total value of C$87,600.00. Corporate insiders own 48.94% of the company’s stock.

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.