Mainstreet Equity (TSE:MEQ) Shares Pass Above 200-Day Moving Average – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$190.22 and traded as high as C$197.51. Mainstreet Equity shares last traded at C$197.00, with a volume of 2,459 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on MEQ shares. ATB Capital upgraded Mainstreet Equity from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$225.00 to C$235.00 in a research note on Monday, August 11th. Atb Cap Markets raised Mainstreet Equity from a “hold” rating to a “strong-buy” rating in a report on Sunday, August 10th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, Mainstreet Equity has an average rating of “Strong Buy” and an average target price of C$235.00.

Mainstreet Equity Stock Up 1.2%

The company has a quick ratio of 0.81, a current ratio of 0.51 and a debt-to-equity ratio of 109.80. The company has a market cap of C$1.84 billion, a P/E ratio of 7.15 and a beta of 0.75. The company has a fifty day moving average of C$191.92 and a 200 day moving average of C$190.22.

Mainstreet Equity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. Mainstreet Equity’s payout ratio is currently 0.49%.

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.