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Mainstreet Equity Corp. (T:MEQ)

Business Focus: Residential Real Estate Rental & Development

Sector:  Real Estate Industry:  Real Estate Rental, Development & Operations
 
See Regulatory Filings on SEDAR
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
Johnny C. S. Lam
Chief Operating Officer
Sheena J. Keslick
Vice President - Operations
Joseph B. Amantea
Corporate Secretary, Director
 
Business Overview
Mainstreet Equity Corp. is a Canada-based real estate company that is focused on acquiring and managing mid-market rental apartment buildings primarily in Western Canada. The Company owns and manages properties in Calgary, Edmonton, Vancouver/Lower Mainland BC, Saskatoon, Regina, Kamloops, and Lethbridge. The Company's properties include Airdrie Apartments, Calgary Apartments, Cochrane Apartments, Edmonton Apartments, Fort Saskatchewan Apartments, Lethbridge Apartments, Abbotsford Apartments, Chilliwack Apartments, Courtenay Apartments, Kamloops Apartments, New Westminster Apartments, Penticton Apartments, Vernon Apartments, Manitoba, Winnipeg Apartments, Saskatchewan, Regina Apartments, and Saskatoon Apartments. The Company also provides student housing facilities, including MacEwan University, Mount Royal University, Simon Fraser University, University of Calgary, University of Fraser Valley, University of Lethbridge, University of Regina, and the University of Saskatchewan.
Financial Overview
For the nine months ended 30 June 2022, Mainstreet Equity Corp. revenues increased 13% to C$133.2M. Net income decreased 65% to C$64.2M. Revenues reflect FFO per Share (Basic) increase of 10% to C$1.33, Funds from Operations - Per Share - Di increase of 77% to C$0.18, Rental revenue increase of 13% to C$130.4M, Other Rental revenue increase of 30% to C$979K. Net income was offset by Change in fair value decrease of 80% to C$36.2M (income).
Employees: 449 as of Sep 30, 2021
Reporting Currency: Canadian Dollars
Enterprise value: $2,525M as of Jun 30, 2022
Annual revenue (TTM): $175.63M as of Jun 30, 2022
EBITDA (TTM): $92.67M as of Jun 30, 2022
Net annual income (TTM): $103.87M as of Jun 30, 2022
Free cash flow (TTM): $41.96M as of Jun 30, 2022
Net Debt Last Fiscal Year: $1,396M as of Jun 30, 2022
Shares outstanding: 9,336,018 as of Jul 18, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization