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

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

Manhattan Bridge Capital Stock Performance

Shares of Manhattan Bridge Capital stock opened at $5.61 on Thursday. The company has a market capitalization of $64.17 million, a P/E ratio of 11.45 and a beta of 0.55. The company has a fifty day moving average of $5.60 and a 200 day moving average of $5.45. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week high of $5.90.

Manhattan Bridge Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.20%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Institutional Trading of Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of LOAN. Soltis Investment Advisors LLC purchased a new stake in Manhattan Bridge Capital in the 3rd quarter worth $14,758,000. Cary Street Partners Financial LLC purchased a new stake in Manhattan Bridge Capital in the 4th quarter worth $1,684,000. Fortress Financial Solutions LLC purchased a new stake in Manhattan Bridge Capital in the 4th quarter worth $685,000. International Assets Investment Management LLC lifted its stake in Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after purchasing an additional 119,595 shares in the last quarter. Finally, Capital Management Associates Inc purchased a new stake in Manhattan Bridge Capital in the 4th quarter worth $184,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

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.