Mainstreet Equity Corp. (T:MEQ)
Business Focus: Residential Real Estate Rental & Development
| Sector: Real Estate | Industry: Real Estate Rental, Development & Operations |
| Company Contact | |
| Address: | 305 10 Ave SE CALGARY AB T2G 0W2 |
| Tel: | N/A |
| Website: | https://www.mainst.biz |
| IR: | See website |
| Key People | ||
| Navjeet S. Dhillon President, Chief Executive Officer, Director | Trina Cui Chief Financial Officer | Sheena J. Keslick Vice President - Operations |
| Anthony Lam Operating Officer | Joseph B. Amantea Corporate Secretary, Director | |
| Business Overview |
| Mainstreet Equity Corp. is a Canada-based real estate company. The Company is focused on the acquisition, redevelopment, repositioning and management of mid-market rental apartment buildings in Western Canada. It owns and manages properties in six Canadian markets: British Columbia (including Vancouver Lower Mainland, Vancouver Island, Okanagan and Northern BC), Calgary (including the City of Airdrie, the City of Lethbridge, and the Town of Cochrane), Edmonton (including the City of Fort Saskatchewan), Saskatoon, Regina and Winnipeg. Its apartments are situated in various location such as Airdrie, Calgary, Cochrane, Edmonton, Abbotsford, Chilliwack, Courtenay, Kamloops, New Westminster, Penticton, Prince George, Surrey, Vernon, Winnipeg, Regina and Saskatoon. The Company provides incentives and rentals for Foreign Students attending school in Canada. It also provides student housing facilities, including MacEwan University, University of Alberta, NAIT and NorQuest College. |
| Financial Overview |
| For the three months ended 31 December 2023, Mainstreet Equity Corp revenues increased 19% to C$58.3M. Net income increased from C$15M to C$68.5M. Revenues reflect Funds from Operations - Per Share - Bas increase of 24% to C$1.71, Funds from Operations - Per Share - Dil increase of 24% to C$1.71, Rental revenue increase of 19% to C$57M. Net income benefited from Residential housing segment income increase of 31% to C$20.4M. |
| Employees: | 532 as of Nov 30, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $3,159M as of Dec 31, 2023 |
| Annual revenue (TTM): | $219.51M as of Dec 31, 2023 |
| EBITDA (TTM): | $120.28M as of Dec 31, 2023 |
| Net annual income (TTM): | $162.96M as of Dec 31, 2023 |
| Free cash flow (TTM): | $76.35M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $1,517M as of Dec 31, 2023 |
| Shares outstanding: | 9,318,818 as of Dec 31, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
Disclaimer :: Use of this site is subject to, and your continued use
constitutes your express agreement to be bound by, our Legal and Terms of Use. Any commercial use of this site is
strictly prohibited. Canadianinsider.com is operated by INK Research Corp (INK). INK provides general information.
INK has made all reasonable efforts to ensure that all information provided is accurate at the time of inclusion;
however, there may be errors. INK makes no guarantee of accuracy or completeness. All information and opinion
expressed herein is subject to change without notice. Read more...Insider information is based on filings made on the System
for Electronic Disclosure for Insiders (SEDI®). Data is provided “as is” and by using this site
you acknowledge that the information which comprises the data is filed by or on behalf of the SEDI filers or other
parties legally required or permitted to do so. Filings may at any time contain errors and by using this site you
acknowledge this fact. INK is not an investment advisory service, a financial planner, an investment advisor nor a
securities advisor. INK does not purport to tell people, or suggest to people, what they should buy or sell for
themselves. Opinions and recommendations contained herein should not be construed as investment advice. Do not
assume that any recommendations, insights, charts, theories, or philosophies will ensure profitable investment.
Users should always consult with and obtain advice from their professional licensed financial advisor, including
their tax advisor, to determine the suitability of any investment. INK recommends that anyone making an investment
or trading securities do so with caution. Users should perform full due diligence and investigate any security
fully before making an investment or before the execution of a security trade based upon information learned
through INK. Investors should obtain annual reports and other company information to complete their own due
diligence in any investment. Neither INK nor anyone affiliated with INK is responsible for any investment decision
made. INK employees may have an ownership or investment interest in any stock mentioned in this service or on this
website. On this site, there may be third party content, content from authors or links to third-party sites or
pages, the contents of which are not verified, maintained, controlled or supervised by INK. INK is not responsible
for and assumes no liability for the accuracy, completeness or timeliness of any third party content or authored
content provided herein or the information or contents of any linked sites or pages. The inclusion of any authored
content or link by us does not imply that INK recommends, approves or endorses the authored content or linked site
or pages. INK Edge® and INK Research® are registered trade-marks owned by INK Research Corp. SEDI®
is a registered trade-mark owned by the Alberta Securities Commission.Read less
Please make the indicated changes including the new text: US quotes snapshot data provided by IEX. Additional price data and company information powered by Twelve Data.
Interactive technical study charts by TradingView. Copyright © 2024 INK Research Corp. All rights reserved. All trade-marks or trade names not owned by INK Research Corp. are the property of their respective owners.
