Mainstreet Equity (TSE:MEQ) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Mainstreet Equity Corp. recently surpassed its 200-day moving average during trading, reaching as high as C$204.52, and currently trades at C$203.00 with a market cap of C$1.89 billion.
• Analysts have upgraded the stock, with ATB Capital raising its rating to "strong-buy" and increasing the price target from C$225 to C$235.
• The company declared a quarterly dividend increase, now at $0.04 per share, reflecting a yield of 0.1%, up from the previous quarterly dividend of $0.03.

Mainstreet Equity Corp. (TSE:MEQ - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$191.95 and traded as high as C$204.52. Mainstreet Equity shares last traded at C$203.00, with a volume of 3,043 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Atb Cap Markets raised Mainstreet Equity from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 10th. ATB Capital raised Mainstreet Equity from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from C$225.00 to C$235.00 in a research note on Monday, August 11th.

Mainstreet Equity Trading Up 1.5%

The firm has a market cap of C$1.89 billion, a P/E ratio of 10.08 and a beta of 1.63. The company has a 50 day moving average of C$189.38 and a 200 day moving average of C$191.95. The company has a debt-to-equity ratio of 109.80, a quick ratio of 0.81 and a current ratio of 0.51.

Mainstreet Equity Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a 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%.

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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