Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) to Issue Quarterly Dividend of $0.12

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

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

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock traded up $0.08 during midday trading on Wednesday, hitting $5.36. 13,983 shares of the company’s stock were exchanged, compared to its average volume of 20,510. Manhattan Bridge Capital has a 12-month low of $4.50 and a 12-month high of $5.90. The stock has a market cap of $61.32 million, a price-to-earnings ratio of 10.92 and a beta of 0.58. The firm’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $5.29.

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

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a research note on Saturday. 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.