Mainstreet Equity (TSE:MEQ) Stock Rating Upgraded by ATB Capital

Key Points

• Mainstreet Equity has been upgraded by ATB Capital from a "sector perform" rating to an "outperform" rating, with a price objective raised from C$225.00 to C$235.00.
• The company's stock is currently priced at C$195.00, suggesting a potential upside of 20.51% from the new price target.
• Mainstreet Equity focuses on the acquisition and management of mid-market residential rental apartment buildings across various cities in Western Canada.

ATB Capital upgraded shares of Mainstreet Equity (TSE:MEQ - Free Report) from a sector perform rating to an outperform rating in a research report sent to investors on Monday morning,BayStreet.CA reports. ATB Capital currently has C$235.00 price objective on the stock, up from their previous price objective of C$225.00.

Mainstreet Equity Stock Up 1.5%

Shares of TSE MEQ traded up C$3.00 on Monday, reaching C$203.00. 3,043 shares of the company's stock traded hands, compared to its average volume of 4,433. Mainstreet Equity has a 12 month low of C$179.50 and a 12 month high of C$216.37. The business's 50 day simple moving average is C$189.38 and its two-hundred day simple moving average is C$191.95. The company has a market cap of C$1.89 billion, a price-to-earnings ratio of 10.08 and a beta of 1.63. The company has a quick ratio of 0.81, a current ratio of 0.51 and a debt-to-equity ratio of 109.80.

Mainstreet Equity Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 17th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. This is an increase from Mainstreet Equity's previous quarterly dividend of $0.03. Mainstreet Equity's dividend payout ratio (DPR) is 0.55%.

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.