Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Plans $0.12 Quarterly Dividend

Key Points

• Manhattan Bridge Capital, Inc announced a quarterly dividend of $0.12 per share, with shareholders of record on October 8th set to receive this payment on October 15th, representing an annualized yield of 8.47%.
• The company reported $0.12 earnings per share for the last quarter, meeting analysts' expectations, while having a high dividend payout ratio of 95.8%.
• Wall Street analysts have issued a "strong-buy" rating for Manhattan Bridge Capital, indicating expectations for future growth.

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) declared a quarterly dividend on Monday, July 28th, RTT News reports. Investors of record on Wednesday, October 8th will be given a dividend of 0.115 per share by the credit services provider on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 8.5%. The ex-dividend date is Wednesday, October 8th.

Manhattan Bridge Capital has a payout ratio of 95.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble.

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN traded up $0.02 on Thursday, reaching $5.44. 19,666 shares of the company's stock traded hands, compared to its average volume of 17,421. The firm has a market cap of $62.23 million, a price-to-earnings ratio of 11.57 and a beta of 0.30. The stock has a 50 day moving average price of $5.33 and a 200-day moving average price of $5.41. Manhattan Bridge Capital has a fifty-two week low of $4.74 and a fifty-two week high of $6.05.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts' consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 59.04% and a return on equity of 12.68%. The company had revenue of $2.36 million during the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of Manhattan Bridge Capital in a research note on Sunday, May 18th. They set a "strong-buy" rating for the company.

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. 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.