Mainstreet Equity (TSE:MEQ) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Mainstreet Equity Corp. (TSE:MEQ)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$185.69 and traded as high as C$199.41. Mainstreet Equity shares last traded at C$199.41, with a volume of 1,040 shares trading hands.

Analysts Set New Price Targets

MEQ has been the topic of several recent analyst reports. Acumen Capital upped their target price on Mainstreet Equity from C$210.00 to C$220.00 in a research report on Wednesday, July 24th. ATB Capital increased their price objective on Mainstreet Equity from C$200.00 to C$215.00 in a report on Wednesday, July 24th.

Mainstreet Equity Stock Performance

The stock has a market capitalization of C$1.86 billion, a price-to-earnings ratio of 14.76 and a beta of 1.63. The firm has a fifty day moving average of C$198.56 and a 200 day moving average of C$185.69. The company has a debt-to-equity ratio of 117.76, a current ratio of 0.40 and a quick ratio of 0.81.

Mainstreet Equity Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 17th were issued a dividend of $0.027 per share. This represents a $0.11 annualized dividend and a yield of 0.05%. The ex-dividend date was Thursday, October 17th. Mainstreet Equity’s dividend payout ratio (DPR) is 0.81%.

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.