Mainstreet Equity (TSE:MEQ) Upgraded to Strong-Buy at Atb Cap Markets

Atb Cap Markets upgraded shares of Mainstreet Equity (TSE:MEQ) from a hold rating to a strong-buy rating in a report published on Sunday,Zacks.com reports.

Separately, ATB Capital upgraded Mainstreet Equity from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from C$225.00 to C$235.00 in a report on Monday.

Mainstreet Equity Stock Performance

Shares of Mainstreet Equity stock opened at C$203.36 on Friday. Mainstreet Equity has a 52 week low of C$179.50 and a 52 week high of C$216.37. The company has a quick ratio of 0.81, a current ratio of 0.51 and a debt-to-equity ratio of 109.80. The business has a 50 day moving average price of C$188.76 and a 200-day moving average price of C$191.97. The company has a market cap of C$1.89 billion, a PE ratio of 10.10 and a beta of 1.63.

Mainstreet Equity Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 17th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis 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 is presently 0.55%.

Mainstreet Equity Company Profile

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.