Manhattan Bridge Capital, Inc. (LOAN) To Go Ex-Dividend on December 31st

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be given a dividend of 0.115 per share by the credit services provider on Wednesday, January 15th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date is Tuesday, December 31st.

Manhattan Bridge Capital has raised its dividend by an average of 2.3% per year over the last three years. Manhattan Bridge Capital has a dividend payout ratio of 92.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Manhattan Bridge Capital Trading Up 1.5 %

Manhattan Bridge Capital stock opened at $5.36 on Friday. The firm has a market cap of $61.32 million, a price-to-earnings ratio of 10.94 and a beta of 0.58. The stock has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $5.29. Manhattan Bridge Capital has a 12 month low of $4.50 and a 12 month high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a report on Saturday, November 23rd. They issued a “strong-buy” rating for the company.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.