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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) announced a quarterly dividend on Wednesday, February 5th, Wall Street Journal reports. Shareholders of record on Tuesday, April 8th will be given a dividend of 0.115 per share by the credit services provider on Tuesday, April 15th. This represents a $0.46 dividend on an annualized basis and a yield of 8.21%. The ex-dividend date of this dividend is Tuesday, April 8th.

Manhattan Bridge Capital has decreased its dividend by an average of 1.8% per year over the last three years. Manhattan Bridge Capital has a dividend payout ratio of 93.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Manhattan Bridge Capital Trading Down 4.6 %

Shares of LOAN opened at $5.60 on Friday. Manhattan Bridge Capital has a 12 month low of $4.89 and a 12 month high of $6.05. The firm’s 50 day moving average is $5.66 and its 200-day moving average is $5.54. The stock has a market capitalization of $64.06 million, a PE ratio of 11.43 and a beta of 0.26.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Wednesday, March 12th. The credit services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The company had revenue of $2.36 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a research report on Monday, March 31st. They set 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.