Manhattan Bridge Capital Inc. (NASDAQ:LOAN) announced a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Investors of record on Friday, October 9th will be paid a dividend of 0.10 per share by the credit services provider on Thursday, October 15th. This represents a $0.40 annualized dividend and a dividend yield of 9.64%. The ex-dividend date is Thursday, October 8th.
Manhattan Bridge Capital has increased its dividend payment by an average of 28.0% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Manhattan Bridge Capital has a dividend payout ratio of 90.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.
Shares of LOAN stock opened at $4.15 on Friday. Manhattan Bridge Capital has a twelve month low of $2.54 and a twelve month high of $6.60. The company has a market cap of $40.44 million, a P/E ratio of 9.02 and a beta of 0.66. The business has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $4.78.
LOAN has been the subject of several research reports. ValuEngine upgraded Manhattan Bridge Capital from a “sell” rating to a “hold” rating in a research report on Thursday, July 2nd. Maxim Group reiterated a “buy” rating and issued a $6.00 target price on shares of Manhattan Bridge Capital in a research report on Wednesday, July 22nd.
Manhattan Bridge Capital Company Profile
Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.
Further Reading: Fundamental Analysis and Individual Investors
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