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

Mainstreet Equity Corp. (TSE:MEQ)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$211.29 and last traded at C$210.72, with a volume of 752 shares trading hands. The stock had previously closed at C$209.55.

Analyst Upgrades and Downgrades

MEQ has been the topic of a number of research analyst reports. ATB Capital upped their target price on Mainstreet Equity from C$200.00 to C$215.00 in a research note on Wednesday, July 24th. Acumen Capital lifted their target price on shares of Mainstreet Equity from C$210.00 to C$220.00 in a research report on Wednesday, July 24th.

Mainstreet Equity Stock Performance

The stock has a market cap of C$1.96 billion, a P/E ratio of 15.41 and a beta of 1.63. The company has a debt-to-equity ratio of 117.76, a current ratio of 0.40 and a quick ratio of 0.81. The company has a 50 day simple moving average of C$196.54 and a 200-day simple moving average of C$184.08.

Mainstreet Equity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be issued a $0.027 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.05%. Mainstreet Equity’s payout ratio is 0.81%.

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.