Mainstreet Equity
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Mainstreet Equity (MEQ) investor relations material

Mainstreet Equity Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary10 Feb, 2026

Executive summary

  • Achieved 26 years of double-digit organic growth, expanding from 1,370 units in 2000 to 19,147 units YTD 2026, and IFRS asset value from $90M to $3.84B.

  • Achieved strong Q1 2026 performance with 8.2% NOI growth and 7.0% FFO increase year-over-year, following a strategic pause in acquisitions in 2025.

  • Focused on acquiring underperforming mid-market apartments, repositioning them for higher rents and improved quality, with a mission to provide affordable housing.

  • Maintains a diversified portfolio across BC, Alberta, Saskatchewan, and Manitoba, with strong liquidity and a robust balance sheet.

  • Positioned for accelerated acquisition-driven growth in fiscal 2026, leveraging $818 million in available liquidity.

Financial highlights

  • Revenue increased from $8M in 2000 to $276M in 2025.

  • FFO per share grew from $0.18 in 2000 to $10.31 in 2025; FFO per basic share increased 7.3% to $2.65 in Q1 2026.

  • IFRS asset value reached $3.84B as of Q1 2026.

  • NOI improvement initiatives led to significant value creation in stabilized properties, with examples showing NOI increases of over 200%.

  • Net profit was $48.3 million in Q1 2026, down from $56.2 million in Q1 2025, reflecting a lower change in fair value of investment properties.

Outlook and guidance

  • $45M NOI gap identified, with further upside from stabilizing the remaining 12% of the portfolio.

  • Plans to accelerate acquisitions throughout 2026, leveraging $818 million in liquidity and improving market conditions.

  • Anticipates continued growth supported by favorable macroeconomic trends, including housing shortages, stable interest rates, and energy sector growth in Western Canada.

  • Intends to grow both dividend and acquisitions, maintaining a low FFO payout ratio (3%).

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