Mainstreet Equity Corp. Plans Quarterly Dividend of $0.03 (TSE:MEQ)

Mainstreet Equity Corp. (TSE:MEQ) declared a quarterly dividend on Thursday, April 11th, Zacks reports. Shareholders of record on Tuesday, April 16th will be given a dividend of 0.027 per share on Tuesday, April 30th. This represents a $0.11 annualized dividend and a yield of 0.06%. The ex-dividend date is Monday, April 15th.

Mainstreet Equity Price Performance

MEQ opened at C$190.35 on Friday. The business’s 50-day moving average is C$177.67 and its two-hundred day moving average is C$154.35. Mainstreet Equity has a 1 year low of C$125.55 and a 1 year high of C$194.57. 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 firm has a market capitalization of C$1.77 billion, a PE ratio of 10.87 and a beta of 1.55.

Mainstreet Equity (TSE:MEQ) last posted its earnings results on Tuesday, February 6th. The company reported C$7.36 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.04 by C$5.32. Mainstreet Equity had a return on equity of 12.47% and a net margin of 74.24%. The company had revenue of C$58.34 million for the quarter, compared to analyst estimates of C$56.60 million. Research analysts anticipate that Mainstreet Equity will post 6.8109648 earnings per share for the current fiscal year.

Insider Buying and Selling at Mainstreet Equity

In other Mainstreet Equity news, Director Richard Grimaldi sold 6,400 shares of the business’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 value of C$1,043,200.00. 48.94% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Laurentian set a C$180.00 price target on Mainstreet Equity and gave the stock a “buy” rating in a research note on Monday, January 22nd.

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.