Manhattan Bridge Capital Inc. (LOAN) Rating Lowered to Hold at Zacks Investment Research
Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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 reissued a “buy” rating on shares of Manhattan Bridge Capital in a report on Thursday, July 14th.
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Shares of Manhattan Bridge Capital (NASDAQ:LOAN) traded down 1.66% during midday trading on Wednesday, reaching $7.12. The company’s stock had a trading volume of 25,103 shares. The stock’s 50 day moving average is $6.50 and its 200 day moving average is $5.25. The stock has a market capitalization of $51.92 million, a PE ratio of 19.83 and a beta of 0.23. Manhattan Bridge Capital has a 12 month low of $3.80 and a 12 month high of $7.48.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Tuesday, October 11th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $0.40 annualized dividend and a dividend yield of 5.62%. This is a boost from Manhattan Bridge Capital’s previous quarterly dividend of $0.09. Manhattan Bridge Capital’s dividend payout ratio is currently 108.11%.
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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