Mainstreet Equity (TSE:MEQ) Reaches New 12-Month Low – Here’s Why

Mainstreet Equity Corp. (TSE:MEQ) reached a new 52-week low during mid-day trading on Monday . The company traded as low as C$174.00 and last traded at C$174.00, with a volume of 1554 shares. The stock had previously closed at C$175.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MEQ shares. ATB Capital lifted their target price on shares of Mainstreet Equity from C$235.00 to C$240.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 17th. Acumen Capital dropped their price target on shares of Mainstreet Equity from C$250.00 to C$248.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$244.00.

Mainstreet Equity Trading Down 0.9%

The company’s 50 day simple moving average is C$182.22 and its two-hundred day simple moving average is C$187.80. The stock has a market cap of C$1.61 billion, a price-to-earnings ratio of 5.63 and a beta of 0.67. The company has a debt-to-equity ratio of 109.80, a quick ratio of 0.81 and a current ratio of 0.51.

Mainstreet Equity Company Profile

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.