Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 reaffirmed a “buy” rating on shares of Manhattan Bridge Capital in a research note on Thursday, July 14th.
Shares of Manhattan Bridge Capital (NASDAQ:LOAN) traded down 0.28% during midday trading on Wednesday, reaching $7.22. 9,185 shares of the company’s stock traded hands. Manhattan Bridge Capital has a 52-week low of $3.80 and a 52-week high of $7.48. The stock has a market cap of $52.65 million, a price-to-earnings ratio of 20.11 and a beta of 0.23. The stock has a 50 day moving average of $6.46 and a 200-day moving average of $5.22.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Tuesday, October 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This is a boost from Manhattan Bridge Capital’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 5.52%. Manhattan Bridge Capital’s dividend payout ratio (DPR) 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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