Mainstreet Equity (TSE:MEQ) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Mainstreet Equity Corp. (TSE:MEQ) shares have surpassed their 200-day moving average, indicating a potential upward trend in the stock price.
• ATB Capital raised its target price for Mainstreet Equity from C$220.00 to C$225.00, maintaining a "sector perform" rating.
• The company's quarterly dividend was increased from $0.03 to $0.04 per share, resulting in an annualized yield of 0.1%.

Mainstreet Equity Corp. (TSE:MEQ - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$192.23 and traded as high as C$193.80. Mainstreet Equity shares last traded at C$193.61, with a volume of 4,979 shares changing hands.

Analyst Upgrades and Downgrades

Separately, ATB Capital raised their price target on Mainstreet Equity from C$220.00 to C$225.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th.

Mainstreet Equity Stock Up 0.7%

The stock's fifty day moving average is C$188.46 and its two-hundred day moving average is C$192.13. The company has a current ratio of 0.51, a quick ratio of 0.81 and a debt-to-equity ratio of 109.80. The firm has a market cap of C$1.82 billion, a P/E ratio of 9.68 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 issued a dividend of $0.04 per share. This is an increase from Mainstreet Equity's previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. Mainstreet Equity's 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.