Mainstreet Equity (TSE:MEQ) Sets New 52-Week Low – What’s Next?

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

Analyst Ratings Changes

Several research firms have issued reports on MEQ. Acumen Capital reduced their price objective on Mainstreet Equity from C$250.00 to C$248.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. ATB Capital lifted their price objective on 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. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, Mainstreet Equity presently has a consensus rating of “Buy” and a consensus target price of C$244.00.

Mainstreet Equity Stock Down 0.9%

The firm has a market capitalization 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. The business’s 50-day moving average is C$182.22 and its two-hundred day moving average is C$187.80.

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.