Manhattan Bridge Capital, Inc (LOAN) To Go Ex-Dividend on December 31st

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Thursday, December 31st will be given a dividend of $0.1050 per share by the credit services provider on Friday, January 15th. This represents a $0.42 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date is Thursday, December 31st. This is a 4.5% decrease from Manhattan Bridge Capital’s previous quarterly dividend of $0.11.

Manhattan Bridge Capital has a payout ratio of 87.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Manhattan Bridge Capital to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.42 annual dividend with an expected future payout ratio of 95.5%.

Manhattan Bridge Capital Stock Down 0.3%

LOAN stock opened at $3.48 on Friday. The company has a market cap of $39.76 million, a PE ratio of 8.29 and a beta of 0.20. The business has a 50-day simple moving average of $3.84 and a 200 day simple moving average of $4.16. Manhattan Bridge Capital has a 52 week low of $3.31 and a 52 week high of $5.27.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Wednesday, October 21st. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. The business had revenue of $2.06 million for the quarter, compared to analysts’ expectations of $2.05 million. Manhattan Bridge Capital had a net margin of 58.61% and a return on equity of 11.14%. On average, analysts anticipate that Manhattan Bridge Capital will post 0.42 EPS for the current fiscal year.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.