Manhattan Bridge Capital Inc. (NASDAQ:LOAN) declared a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Shareholders of record on Tuesday, April 10th will be paid a dividend of 0.12 per share by the credit services provider on Monday, April 16th. This represents a $0.48 annualized dividend and a dividend yield of 7.98%. The ex-dividend date is Monday, April 9th. This is a boost from Manhattan Bridge Capital’s previous quarterly dividend of $0.11.
Shares of Manhattan Bridge Capital (NASDAQ LOAN) traded up $0.13 during trading hours on Wednesday, hitting $6.02. The company’s stock had a trading volume of 20,457 shares, compared to its average volume of 19,929. Manhattan Bridge Capital has a fifty-two week low of $4.65 and a fifty-two week high of $7.00. The stock has a market capitalization of $48.64, a price-to-earnings ratio of 14.68 and a beta of 0.67.
Separately, Maxim Group started coverage on Manhattan Bridge Capital in a research report on Thursday, December 21st. They set a “buy” rating and a $7.50 target price for the company.
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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