Mainstreet Equity (TSE:MEQ) Hits New 52-Week High at $172.35

Mainstreet Equity Corp. (TSE:MEQ - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as C$172.35 and last traded at C$185.58, with a volume of 492 shares traded. The stock had previously closed at C$185.56.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. ATB Capital upped their price objective on Mainstreet Equity from C$160.00 to C$170.00 and gave the stock an "outperform" rating in a research note on Thursday, December 7th. Laurentian set a C$180.00 target price on Mainstreet Equity and gave the stock a "buy" rating in a research report on Monday, January 22nd.

Mainstreet Equity Stock Performance

The company has a debt-to-equity ratio of 119.54, a current ratio of 1.00 and a quick ratio of 0.81. The business has a 50-day simple moving average of C$172.37 and a 200-day simple moving average of C$151.79. The firm has a market capitalization of C$1.73 billion, a PE ratio of 10.61 and a beta of 1.55.

Mainstreet Equity (TSE:MEQ - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported C$7.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$2.04 by C$5.32. The business had revenue of C$58.34 million for the quarter, compared to the consensus estimate of C$56.60 million. Mainstreet Equity had a return on equity of 12.47% and a net margin of 74.24%. Equities research analysts expect that Mainstreet Equity Corp. will post 6.8034033 earnings per share for the current fiscal year.

Mainstreet Equity Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were paid a dividend of $0.027 per share. The ex-dividend date of this dividend was Monday, January 15th. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.06%. Mainstreet Equity's dividend payout ratio is 0.63%.

Insider Activity

In other news, Director Richard Grimaldi sold 6,400 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$163.00, for a total transaction of C$1,043,200.00. Insiders own 48.94% of the company's stock.

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.