Manhattan Bridge Capital Inc. (LOAN) Downgraded by Zacks Investment Research to Hold
Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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 reiterated a “buy” rating on shares of Manhattan Bridge Capital in a report on Thursday, July 14th.
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Manhattan Bridge Capital (NASDAQ:LOAN) traded up 2.07% during mid-day trading on Friday, reaching $6.40. The company’s stock had a trading volume of 38,780 shares. The firm has a 50 day moving average price of $5.99 and a 200-day moving average price of $4.93. The company has a market capitalization of $46.67 million, a PE ratio of 17.83 and a beta of 0.17. Manhattan Bridge Capital has a 1-year low of $3.80 and a 1-year high of $6.45.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders 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 represents a $0.40 dividend on an annualized basis and a yield of 6.25%. This is an increase from Manhattan Bridge Capital’s previous quarterly dividend of $0.09. Manhattan Bridge Capital’s payout ratio is 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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