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Mainstreet Equity Corp (MEQ-T)
TSE:MEQ
188.00
0.74
(0.39%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
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Aurora Cannabis, Canopy and More Earnings this Week (Feb 11-15)Earning Reports to Watch (Dec 10-14)This summary was created by AI, based on 14 opinions in the last 12 months.
Mainstreet Equity Corp (MEQ-T) is a real estate corporation focused on managing small and mid-size apartment buildings in Western Canada. The company has experienced substantial growth in its number of apartments, units rented, and rental rates. It is led by an excellent CEO who owns half the business. The stock is well-regarded for its disciplined approach to portfolio growth and increasing net asset value. Analysts are optimistic about its potential for long-term compounding and consistent revenue growth. MEQ is considered a well-run, under-followed stock with strong potential for the future.
$187.000
Owned
Really likes it, though illiquid. Adept at growing portfolio base and NAV, despite not having to issue any equity, the holy grail of real estate. Really likes Canadian western apartment markets, especially where no rent control. Rents go higher, and so NAV goes higher.
Thinks highly of CEO. Great example of building a great business by investing in accretive acquisitions instead of paying out a distribution. Discount to NAV. Migration into Alberta is a great story. No dividend.
We reiterate this Calgary based multi-family property manager -- a play on the recovery of the Alberta economy. We like that cash reserves are growing, while debt is retired and shares are bought back. It still trades under book value. We continue to recommend a stop at $125, looking to achieve $166 -- upside potential of 22%. Yield 0%
(Analysts’ price target is $166.67)We again reiterate MEQ as a TOP PICK. Latest earnings reported income up 22%, on a 18% increase in revenues -- meaning margins are growing despite inflationary pressures. We like that cash reserves are growing, while debt is retired and shares bought back. We continue to recommend a stop at $125, looking to achieve $166 -- upside potential of 21%. Yield 0%.
(Analysts’ price target is $166.67)MEQ operates as a real estate corporation focusing on managing residential rental apartments and is now trading at 27.6x times' Forward P/E, but only at 1.0x Book value. In the last five years, MEQ’s revenue growth has been quite consistent, around 12% on average. Like other real estate companies, the balance sheet is leveraged, with net debt of $1.5B. The net debt/EBITDA is currently around 14.5x. MEQ reinvested heavily into acquiring new properties. As a result, the company has had no dividend payments and limited shares repurchase over the last few years.
We think MEQ has the potential to be a compounder, trading at 1.0x Book value is also an attractive valuation, but the leverage levels need to be monitored carefully, as the debt is quite high. We would be comfortable with this name for a three-year+ timeframe given its cheap valuation and consistent revenue growth.
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Very well run with a long track record. Is one of the best compounding stocks in Canada that nobody knows. It returns 20% annually for the last 20 years. They played Covid perfectly by buying companies and locking in their debt at 2% over 10 years. Are well positioned given Canada's housing shortages with low vacancies and more immigrants coming.
(Analysts’ price target is $163.33)We reiterate MEQ, with a portfolio of over 15,000 residential units in Western Canada, as a TOP PICK. Recently reported earnings showed double digit growth for the sixth consecutive quarter for all of its key growth metrics. Funds from operations were up 25%. Cash reserves grew, while retiring debt and buying back shares. We continue to recommend a stop at $125, looking to achieve $163 -- upside potential of 19%. Yield 0%
Attractive long-term assets. Calgary-Edmonton based. Active in their portfolios. Looks extremely good from an ROC metric. Pay attention to the apartment sector, it's a good one right now.
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.
Mainstreet Equity Corp(MEQ-T) Rating
Ranking : 4 out of 5
Bullish - Buy Signals / Votes : 9
Neutral - Hold Signals / Votes : 1
Bearish - Sell Signals / Votes : 0
Total Signals / Votes : 10
Mainstreet Equity Corp(MEQ-T) Frequently Asked Questions
What is Mainstreet Equity Corp stock symbol?
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
Is Mainstreet Equity Corp a buy or a sell?
In the last year, 10 stock analysts published opinions about MEQ-T. 9 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.
Is Mainstreet Equity Corp a good investment or a top pick?
Mainstreet Equity Corp was recommended as a Top Pick by on . Read the latest stock experts ratings for Mainstreet Equity Corp.
Why is Mainstreet Equity Corp stock dropping?
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.
Is Mainstreet Equity Corp worth watching?
10 stock analysts on Stockchase covered Mainstreet Equity Corp In the last year. It is a trending stock that is worth watching.
What is Mainstreet Equity Corp stock price?
On 2024-04-19, Mainstreet Equity Corp (MEQ-T) stock closed at a price of $188.
It is under-followed since it hasn't raised money in over 20 years. It buys and manages small and mid-size apartment buildings in Western Canada. Its number of apartments has grown substantially and continues to grow. It has a record high number of units rented as well as record high rents. The CEO is excellent and owns half the business.