MEQ continues to chug along, producing fairly steady EPS growth.
With a 16% YTD gain, the stock is somewhat expensive for the sector, at 22X earnings.
It is likely getting more attention as market cap has breached $1B, and there are few non-REIT real estate plays in Canada.
There is no dividend but three analysts cover it.
Insiders own 50% and are certainly committed.
Revenue rose 13% last year and vacancies improved.
Debt is quite high, but shares have done very well: up more than 6-fold since 2016.
We would consider it expensive, but otherwise pretty good for a real estate stock.
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Specializes in acquiring and managing small apartment buildings in Western Canada.
Not a REIT, rather a corporation that retains capital.
16,000 doors currently with minimal equity dilution.
18% compound rate of return.
Sub 2% debt levels that were guaranteed at low interest rate levels.
Rental rate increases will positively affect business.
(A Top Pick June 1/17, Up 12%) A great manager. Out of Alberta with very good western properties. He sold during its recent highs, but still likes it.
Trading at a discount to its NAV. Owns low rise in Alberta, but also a 3rd of the portfolio is in Surrey BC. They have a huge balance sheet, because they do not distribute any yield. They just retain their earnings and buy properties at cheap valuations. The CEO is a good executor on his properties. They are less cyclical than the high-rises in Calgary. (Analysts’ price target is $41.00.)
It is a real estate company and not a REIT so it does not pay a dividend. They have apartment rentals in Western Canada. It trades lower than its net asset value. He will continue to hold it. They did a buy back of their shares. The float is only 4.4 Million, so it is a thinly traded stock. There is an opportunity for it to go up. Be careful because it is not as liquid as other companies.
(A Top Pick May 28/15. Down 5.07%.) This is a real estate company, not a REIT. They don’t pay a dividend. It is primarily in Alberta and Saskatchewan, so the stock has had a bit of a difficult time over the last year or so.
Apartment building vacancies are terribly tight. A third of their portfolio is in BC, which is doing quite well. They also own apartments that are lower in maintenance costs and that have rents of $800 to $1100 so they are not the higher end that are suffering. It trades at a 35% discount to its NAV and they have about $150 Million in cash.
It is not cheap for a reason. 2-3 story apartment buildings in Calgary and BC. They are seeing weakness out of Saskatoon. They are holding up otherwise. They are great at returning 15% as an internal rate of return. When you get ejected from your house, where do you go? An apartment.
It is a real estate corporation and does not pay a dividend. It is trading at a 25% discount to its NAV. People worry because it is in Alberta. He thinks that business will be fine. They have a great balance sheet and liquidity so they can make acquisitions. It has fallen as people worry about Alberta.
One of the cheaper stocks in the TSX. Trading at about a 20%-25% discount to its NAV. They own the mid-tier apartments (2 or 3 stories) in Edmonton, Calgary and Surrey. They have NOI (net operating income) growth of around 15%. They are refinancing and saving millions of dollars on financing costs. It is too cheap. It should be worth $45-$50. They are doing incredibly well in their numbers last quarter.
Mainstreet Equity Corp is a Canadian stock, trading under the symbol MEQ-T on the Toronto Stock Exchange (MEQ-CT). It is usually referred to as TSX:MEQ or MEQ-T
In the last year, 4 stock analysts published opinions about MEQ-T. 3 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Mainstreet Equity Corp.
Mainstreet Equity Corp was recommended as a Top Pick by on . Read the latest stock experts ratings for Mainstreet Equity Corp.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
4 stock analysts on Stockchase covered Mainstreet Equity Corp In the last year. It is a trending stock that is worth watching.
On 2023-03-30, Mainstreet Equity Corp (MEQ-T) stock closed at a price of $126.
Likes it. Corporation, not a REIT, so it's able to retain cashflow instead of paying a distribution. Has grown well without issuing any equity. May have traded off because it reached NAV. Solid operator. Keep holding.