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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) declared a quarterly dividend on Friday, March 8th, Wall Street Journal reports. Investors of record on Wednesday, July 10th will be paid a dividend of 0.115 per share by the credit services provider on Monday, July 15th. This represents a $0.46 dividend on an annualized basis and a yield of 8.46%. The ex-dividend date is Wednesday, July 10th.

Manhattan Bridge Capital has raised its dividend payment by an average of 2.3% annually 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 tumble.

Manhattan Bridge Capital Stock Up 1.7 %

NASDAQ:LOAN opened at $5.44 on Tuesday. The firm has a market capitalization of $62.23 million, a PE ratio of 10.88 and a beta of 0.59. Manhattan Bridge Capital has a twelve month low of $4.27 and a twelve month high of $5.51. The stock’s 50-day simple moving average is $5.14 and its 200 day simple moving average is $4.98.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Manhattan Bridge Capital in a research note on Tuesday. They issued a “strong-buy” rating on the 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.