Mainstreet Equity (TSE:MEQ) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Mainstreet Equity Corp. (TSE:MEQ) shares recently crossed above their 200-day moving average at C$191.17, reaching a high of C$196.89 during trading, with the last price recorded at C$192.96.
• Analysts have upgraded Mainstreet Equity's stock rating, with ATB Capital raising it from "sector perform" to "outperform" and increasing the price target from C$225.00 to C$235.00.
• The company also declared a quarterly dividend of $0.04 per share, raising it from the previous $0.03, leading to an annualized yield of 0.1%.

Mainstreet Equity Corp. (TSE:MEQ - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$191.17 and traded as high as C$196.89. Mainstreet Equity shares last traded at C$192.96, with a volume of 5,868 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on MEQ shares. ATB Capital raised Mainstreet Equity from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from C$225.00 to C$235.00 in a research report 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 issued a Buy rating to the company. Based on data from MarketBeat, Mainstreet Equity presently has an average rating of "Strong Buy" and an average price target of C$235.00.

Mainstreet Equity Price Performance

The firm has a market capitalization of C$1.80 billion, a price-to-earnings ratio of 7.00 and a beta of 0.96. The company has a fifty day moving average price of C$192.53 and a two-hundred day moving average price of C$191.17. 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 business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 17th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. This is a boost from Mainstreet Equity's previous quarterly dividend of $0.03. Mainstreet Equity's dividend payout ratio is 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.

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