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, including New Jersey and Connecticut, and in Florida. The company's loans are primarily secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers. It qualifies as a real estate investment trust for federal income tax purposes. The company generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Manhattan Bridge Capital, Inc. was founded in 1989 and is headquartered in Great Neck, New York.
Manhattan Bridge Capital Stock Performance
Shares of LOAN Stock traded down $0.03 during midday trading on Monday, hitting $5.58. 103 shares of the company were exchanged, compared to its average volume of 28,751. Manhattan Bridge Capital has a 52 week low of $5.10 and a 52 week high of $7.10. The firm has a market capitalization of $64.14 million, a P/E ratio of 12.68 and a beta of 0.55. The firm's 50 day moving average price is $5.54 and its two-hundred day moving average price is $5.68.
Manhattan Bridge Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Tuesday, October 11th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend is Friday, October 7th. Manhattan Bridge Capital's dividend payout ratio is presently 113.64%.