Mainstreet Equity Corp. (T:MEQ)
Business Focus: Residential Real Estate Rental & Development
Mostly sunny as of April 01, 2024
For the latest outlook, get the company report
Insider Filings
Latest 10 SEDI filings for MEQ within the last 6 months
See all filings within the past 6 months
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Company News
May 07, 2024 06:57 ET
Mainstreet Equity Achieves Tenth Consecutive Quarter of Double-digit Growth in Q2
Mainstreet posted our tenth consecutive quarter of double-digit, year-over-year growth across all key operating metrics in Q2 2024. Funds from operations (“FFO”) before current corporate tax increased 46%, near the fastest rate in Mainstreet history. Net operating income (“NOI”) rose 23%, same-asset NOI grew 17%, rental revenues increased 19%, and operating margins improved to 61%.
Apr 11, 2024 16:47 ET
Mainstreet Equity Corp. Announces Quarterly Dividend for Period Ending March 31, 2024
Mainstreet Equity Corp. (TSX, MEQ) today announces that the Board of Directors of Mainstreet Equity Corp. (Mainstreet) declared a quarterly cash dividend of $0.0275 per Common Share of Mainstreet for the quarter ending March 31, 2024. The dividend is payable on April 30, 2024, to shareholders of record at the close of business on April 16, 2024. The ex-dividend date is April 15, 2024.
Valuation Ratios
Industry
Sector
Beta
1.60
--
--
Price to Sales - TTM
6.98
4.22
3.32
Price to Book - most recent quarter
1.13
0.74
1.15
Price to Cash Flow per share - TTM
9.03
9.03
9.92
Price to Free Cash Flow per share - TTM
20.07
13.93
20.95
Short Report
| Date | Number of Shares Shorted | Net Change |
|---|---|---|
| Apr 30, 2024 | 42,169 | -2,928 |
| Apr 15, 2024 | 45,097 | 3,396 |
| Mar 31, 2024 | 41,701 | -17,926 |
Business Summary
| Sector: Real Estate | Industry: Real Estate Rental, Development & Operations |
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.
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