Mainstreet Equity (TSE:MEQ) Sets New 12-Month Low – Time to Sell?

Mainstreet Equity Corp. (TSE:MEQ)’s stock price hit a new 52-week low on Monday . The stock traded as low as C$174.00 and last traded at C$174.00, with a volume of 1554 shares trading hands. The stock had previously closed at C$175.00.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Acumen Capital cut their price target on shares of Mainstreet Equity from C$250.00 to C$248.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. ATB Capital increased their target price on Mainstreet Equity from C$235.00 to C$240.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$244.00.

Mainstreet Equity Price Performance

The company has a debt-to-equity ratio of 109.80, a quick ratio of 0.81 and a current ratio of 0.51. The stock’s fifty day moving average price is C$181.75 and its 200-day moving average price is C$187.64. The firm has a market cap of C$1.61 billion, a PE ratio of 5.60 and a beta of 0.67.

About Mainstreet Equity

Mainstreet Equity Corp is a residential real estate company. It is focused on the acquisition, redevelopment, repositioning, and management of mid-market rental apartment buildings. The business specializes in multi-family residential housing operating in a single segment. Geographically it operates in Canadian provinces including British Columbia, Alberta, Saskatchewan and Manitoba. The company generates revenue from rental income and others.