Zacks Investment Research Downgrades Manhattan Bridge Capital Inc. (LOAN) to Hold
According to Zacks, “MANHATTAN BRIDGE CAPITAL INC., formerly DAG Media, Inc., through its subsidiaries, provides short term, secured, non-banking, commercial loans to small businesses against good collateral, such as real estate, receivables, trading shares, etc., in addition to personal guarantees of the principles in most cases. In addition it develops innovative software and a related web site that allows retail businesses and other service providers to reach prospective customers and clients for their goods and services in a more effective way than traditional on-line and print yellow pages search. “
Separately, Aegis reiterated a “buy” rating on shares of Manhattan Bridge Capital in a research report on Thursday, July 14th.
Shares of Manhattan Bridge Capital (NASDAQ:LOAN) opened at 6.43 on Friday. The stock has a market cap of $46.89 million, a P/E ratio of 17.91 and a beta of 0.17. Manhattan Bridge Capital has a 52-week low of $3.80 and a 52-week high of $6.49. The firm has a 50-day moving average of $6.01 and a 200-day moving average of $4.96.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Tuesday, October 11th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.40 dividend on an annualized basis and a yield of 6.22%. This is a boost from Manhattan Bridge Capital’s previous quarterly dividend of $0.09. Manhattan Bridge Capital’s payout ratio is currently 97.30%.
Manhattan Bridge Capital Company Profile
Manhattan Bridge Capital, Inc (MBC) is a real estate finance company that specializes in originating, servicing and managing a portfolio of first mortgage loans. The Company offers short-term, secured, non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area.
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