Mainstreet Equity (TSE:MEQ) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Mainstreet Equity Corp. (TSE:MEQ) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$190.74 and traded as high as C$193.58. Mainstreet Equity shares last traded at C$193.00, with a volume of 2,022 shares changing hands.

Wall Street Analyst Weigh In

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

Mainstreet Equity Price Performance

The company has a debt-to-equity ratio of 109.80, a current ratio of 0.51 and a quick ratio of 0.81. The company’s 50-day simple moving average is C$193.40 and its 200-day simple moving average is C$190.74. The stock has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 7.01 and a beta of 0.96.

Mainstreet Equity Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Mainstreet Equity’s previous quarterly dividend of $0.03. Mainstreet Equity’s payout ratio is presently 0.49%.

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.