Manhattan Bridge Capital Inc. (LOAN) Downgraded by Zacks Investment Research to Hold
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 reaffirmed a buy rating on shares of Manhattan Bridge Capital in a research note on Thursday, July 14th.
Shares of Manhattan Bridge Capital (NASDAQ:LOAN) traded down 1.52% during mid-day trading on Wednesday, hitting $7.14. The stock had a trading volume of 20,607 shares. The company has a market cap of $52.06 million, a PE ratio of 19.89 and a beta of 0.23. The firm’s 50 day moving average price is $6.42 and its 200-day moving average price is $5.21. Manhattan Bridge Capital has a one year low of $3.80 and a one year high of $7.48.
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 issued a $0.10 dividend. The ex-dividend date is Thursday, October 6th. 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 5.52%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 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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