Mainstreet Equity (TSE:MEQ) Share Price Crosses Above Two Hundred Day Moving Average of $159.82

Mainstreet Equity Corp. (TSE:MEQ) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$159.82 and traded as high as C$178.78. Mainstreet Equity shares last traded at C$175.57, with a volume of 2,226 shares.

Analysts Set New Price Targets

Separately, Laurentian set a C$180.00 target price on Mainstreet Equity and gave the stock a “buy” rating in a research note on Monday, January 22nd.

Mainstreet Equity Trading Down 2.1 %

The company’s fifty day simple moving average is C$182.53 and its 200-day simple moving average is C$159.82. The firm has a market capitalization of C$1.64 billion, a PE ratio of 10.03 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 (TSE:MEQ) last announced its earnings results on Tuesday, February 6th. The company reported C$7.36 earnings per share for the quarter, topping the consensus estimate of C$2.04 by C$5.32. The company had revenue of C$58.34 million during the quarter, compared to analyst estimates of C$56.60 million. Mainstreet Equity had a net margin of 74.24% and a return on equity of 12.47%. As a group, sell-side analysts expect that Mainstreet Equity Corp. will post 6.8109648 earnings per share for the current fiscal year.

Mainstreet Equity Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were issued a $0.027 dividend. The ex-dividend date of this dividend was Monday, April 15th. This represents a $0.11 dividend on an annualized basis and a yield of 0.06%. Mainstreet Equity’s dividend payout ratio (DPR) is presently 0.63%.

Insider Activity

In other Mainstreet Equity news, Director Richard Grimaldi sold 6,400 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$163.00, for a total transaction of C$1,043,200.00. Company insiders own 48.94% of the company’s stock.

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.