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

Mainstreet Equity Corp. (TSE:MEQ) declared a quarterly dividend on Thursday, April 11th, Zacks reports. Investors of record on Tuesday, April 16th will be paid 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 Stock Down 0.8 %

Shares of MEQ stock opened at C$190.35 on Friday. The stock has a 50 day moving average of C$177.67 and a 200 day moving average of C$154.23. The company has a current ratio of 1.00, a quick ratio of 0.81 and a debt-to-equity ratio of 119.54. The stock has a market cap of C$1.77 billion, a P/E ratio of 10.87 and a beta of 1.55. Mainstreet Equity has a twelve month low of C$125.55 and a twelve month high of C$194.57.

Mainstreet Equity (TSE:MEQ) last posted its quarterly earnings data on Tuesday, February 6th. The company reported C$7.36 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 during the quarter, compared to analysts’ expectations of C$56.60 million. Mainstreet Equity had a return on equity of 12.47% and a net margin of 74.24%. As a group, sell-side analysts expect that Mainstreet Equity will post 6.8109648 EPS for the current year.

Insider Activity

In other 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. Company insiders own 48.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Laurentian set a C$180.00 price objective on Mainstreet Equity and gave the company a “buy” rating in a research report 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.