Manhattan Bridge Capital Inc. (LOAN) Reaches New 12-Month High at $6.52
Manhattan Bridge Capital Inc. (NASDAQ:LOAN) hit a new 52-week high during trading on Tuesday . The stock traded as high as $6.52 and last traded at $6.49, with a volume of 36,206 shares. The stock had previously closed at $6.43.
LOAN has been the topic of several research reports. Aegis reiterated a “buy” rating on shares of Manhattan Bridge Capital in a research report on Thursday, July 14th. Zacks Investment Research upgraded shares of Manhattan Bridge Capital from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Tuesday, September 13th.
The company has a market cap of $47.54 million, a PE ratio of 18.16 and a beta of 0.17. The stock has a 50 day moving average of $6.04 and a 200-day moving average of $4.98.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, October 11th will be paid a dividend of $0.10 per share. This is a positive change from Manhattan Bridge Capital’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 6.13%. The ex-dividend date is Thursday, October 6th. Manhattan Bridge Capital’s dividend payout ratio is currently 97.30%.
About Manhattan Bridge Capital
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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