StockNews.com Begins Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report sent to investors on Thursday morning. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of LOAN opened at $5.58 on Thursday. Manhattan Bridge Capital has a 52-week low of $4.60 and a 52-week high of $5.90. The firm has a market cap of $63.83 million, a price-to-earnings ratio of 11.39 and a beta of 0.55. The business’s fifty day moving average is $5.60 and its 200-day moving average is $5.45.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.24%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in Manhattan Bridge Capital in the 4th quarter valued at approximately $97,000. OLIO Financial Planning acquired a new position in shares of Manhattan Bridge Capital during the fourth quarter worth $117,000. Atria Wealth Solutions Inc. lifted its stake in shares of Manhattan Bridge Capital by 13.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after acquiring an additional 3,324 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after acquiring an additional 6,215 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in Manhattan Bridge Capital during the 4th quarter worth $169,000. 21.84% of the stock is owned by institutional investors.

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.