Acumen Capital Cuts Mainstreet Equity (TSE:MEQ) Price Target to C$248.00

Mainstreet Equity (TSE:MEQ) had its target price decreased by Acumen Capital from C$250.00 to C$248.00 in a report released on Wednesday morning,BayStreet.CA reports. Acumen Capital currently has a buy rating on the stock.

Separately, ATB Capital upped their price objective on shares of Mainstreet Equity from C$235.00 to C$240.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$244.00.

Mainstreet Equity Price Performance

Shares of TSE:MEQ opened at C$182.00 on Wednesday. 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 has a twelve month low of C$178.29 and a twelve month high of C$211.85. The stock’s 50 day moving average is C$186.02 and its 200-day moving average is C$189.05. The firm has a market capitalization of C$1.70 billion, a price-to-earnings ratio of 5.91 and a beta of 0.68.

Mainstreet Equity Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 17th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. Mainstreet Equity’s dividend payout ratio is presently 0.48%.

About Mainstreet Equity

Mainstreet Equity Corp is a residential real estate company. It is focused on the acquisition, redevelopment, repositioning, and management of mid-market rental apartment buildings. The business specializes in multi-family residential housing operating in a single segment. Geographically it operates in Canadian provinces including British Columbia, Alberta, Saskatchewan and Manitoba. The company generates revenue from rental income and others.