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

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

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

Mainstreet Equity Stock Up 0.6 %

Shares of TSE:MEQ opened at C$191.65 on Wednesday. Mainstreet Equity has a 52-week low of C$130.00 and a 52-week high of C$194.57. The firm has a market capitalization of C$1.79 billion, a P/E ratio of 10.95 and a beta of 1.55. The stock has a 50 day moving average price of C$171.12 and a 200-day moving average price of C$171.70. The company has a debt-to-equity ratio of 119.54, a quick ratio of 0.81 and a current ratio of 1.00.

Mainstreet Equity (TSE:MEQ) last posted its quarterly earnings data on Tuesday, May 7th. The company reported C$3.61 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.99 by C$1.62. Mainstreet Equity had a return on equity of 12.47% and a net margin of 74.24%. The company had revenue of C$61.25 million during the quarter, compared to analyst estimates of C$58.95 million. As a group, equities research analysts anticipate that Mainstreet Equity will post 7.1907783 EPS for the current fiscal year.

Mainstreet Equity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th will be paid a $0.027 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.06%. Mainstreet Equity’s dividend payout ratio (DPR) is currently 0.63%.

Insider Activity at Mainstreet Equity

In related news, Director Ron Anderson bought 500 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of C$175.20 per share, for a total transaction of C$87,600.00. 48.94% of the stock is owned by company 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.