Analysts believe Mainstreet Equity Corp’s share price still has room to rise

Analysts believe Mainstreet Equity Corp’s share price still has room to rise Even after posting banner results for the 12 months ended Sept. 30 2014, the analysts who follow Mainstreet Equity Corp. still believe that there’s more upside for the share price. This week the Calgary-based Mainstreet posted a 16 per cent rise in net operating income, a 34 per cent increase in funds from operations and a 7 per cent gain in fully diluted profit per share. For the company, which “creates value by purchasing under-performing properties, renovating them to a branded standard, improving operating efficiencies and repositioning them in the market for greater returns,” — the results were its sixteenth consecutive quarter of double digit growth. In the words of Bob Dhillon, the company’s founder and chief executive, it “was a standout year for Mainstreet. Even as we continue the disciplined growth that has been our hallmark, we are making valuable strides in the way we operate our existing portfolio.” Dhilon whose has overseen the development of a company that manages a $1.26-billion portfolio and which owns 8,780 residential units, added “we have built a small organization into a medium-sized company with the machinery to generate strong reoccurring cash-flow, all while maintaining undiluted growth that doesn’t come at the expense of shareholders.” According to Bloomberg, seven analysts follow Mainstreet. Of the seven the recommendations vary from five buys, one sell and one hold. As well five analysts have issued reports and changed their target price since the 2013/2014 financial results were announced this week. Of the five, three have upped their original share price target, one has reduced it and another has maintained their target. For instance, Robert Sutherland at Euro Pacific Canada has upped his target to $46 from $43; Frederic Blondeau from Dundee Securities has hiked his target by $1 to $44; and Jenny Ma from Canaccord Genuity increased her target to $45 from $44. But GMP’s Jimmy Khing Shan reduced his target to $50 from $51 while Jonathan Kelcher from TD Securities, who has a hold recommendation kept his one-year target at $43. On Friday morning, Mainstreet, which has a market cap of $370 million, was quoted at $35.30. Over the past year it has traded in the range $32.92-$43.38. http://mainst.biz/

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Even after posting banner results for the 12 months ended Sept. 30 2014, the analysts who follow Mainstreet Equity Corp. still believe that there’s more upside for the share price.This week the Calgary-based Mainstreet posted a 16 per cent rise in net operating income, a 34 per cent increase in funds from operations and a 7 per cent gain in fully diluted profit per share. For the company, which “creates value by purchasing under-performing properties, renovating them to a branded standard, improving operating efficiencies and repositioning them in the market for greater returns,” — the results were its sixteenth consecutive quarter of double digit growth.

Transcript of Analysts believe Mainstreet Equity Corp’s share price still has room to rise

Analysts believe Mainstreet Equity Corps share price still has room to riseEven after posting banner results for the 12 months ended Sept. 30 2014, the analysts who follow Mainstreet Equity Corp. still believe that theres more upside for the share price.

This week the Calgary-based Mainstreet posted a 16 per cent rise in net operating income, a 34 per cent increase in funds from operations and a 7 per cent gain in fully diluted profit per share. For the company, which creates value by purchasing under-performing properties, renovating them to a branded standard, improving operating efficiencies and repositioning them in the market for greater returns, the results were its sixteenth consecutive quarter of double digit growth.

In the words of Bob Dhillon, the companys founder and chief executive, it was a standout year for Mainstreet. Even as we continue the disciplined growth that has been our hallmark, we are making valuable strides in the way we operate our existing portfolio.

Dhilon whose has overseen the development of a company that manages a $1.26-billion portfolio and which owns 8,780 residential units, added we have built a small organization into a medium-sized company with the machinery to generate strong reoccurring cash-flow, all while maintaining undiluted growth that doesnt come at the expense of shareholders.

According to Bloomberg, seven analysts follow Mainstreet. Of the seven the recommendations vary from five buys, one sell and one hold.

As well five analysts have issued reports and changed their target price since the 2013/2014 financial results were announced this week. Of the five, three have upped their original share price target, one has reduced it and another has maintained their target. For instance, Robert Sutherland at Euro Pacific Canada has upped his target to $46 from $43; Frederic Blondeau from Dundee Securities has hiked his target by $1 to $44; and Jenny Ma from Canaccord Genuity increased her target to $45 from $44. But GMPs Jimmy Khing Shan reduced his target to $50 from $51 while Jonathan Kelcher from TD Securities, who has a hold recommendation kept his one-year target at $43.

On Friday morning, Mainstreet, which has a market cap of $370 million, was quoted at $35.30. Over the past year it has traded in the range $32.92-$43.38.http://mainst.biz/

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