Mainstreet Equity (TSE:MEQ) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Mainstreet Equity's share price has surpassed its 200-day moving average, trading at C$197.00 after reaching a high of C$199.06.
• The company's stock ratings have been upgraded by analysts, with ATB Capital raising the price target from C$225.00 to C$235.00 and a consensus rating of "Strong Buy."
• Mainstreet Equity also increased its quarterly dividend from $0.03 to $0.04 per share, representing an annualized dividend yield of 0.1%.

Mainstreet Equity Corp. (TSE:MEQ - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$191.56 and traded as high as C$199.06. Mainstreet Equity shares last traded at C$197.00, with a volume of 7,399 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently commented on MEQ shares. ATB Capital upgraded Mainstreet Equity from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from C$225.00 to C$235.00 in a report on Monday, August 11th. Atb Cap Markets upgraded 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 given a Buy rating to the company. According to MarketBeat, Mainstreet Equity presently has a consensus rating of "Strong Buy" and a consensus price target of C$235.00.

Mainstreet Equity Stock Down 1.3%

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 business has a 50 day simple moving average of C$190.49 and a 200 day simple moving average of C$191.56. The company has a market capitalization of C$1.84 billion, a price-to-earnings ratio of 9.78 and a beta of 1.63.

Mainstreet Equity Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. This is a positive change from Mainstreet Equity's previous quarterly dividend of $0.03. Mainstreet Equity's dividend payout ratio is currently 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.

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