Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report sent to investors on Friday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

Shares of LOAN stock opened at $5.55 on Friday. The firm’s 50-day moving average is $5.60 and its two-hundred day moving average is $5.47. Manhattan Bridge Capital has a 12 month low of $4.62 and a 12 month high of $5.90. The company has a market capitalization of $63.49 million, a PE ratio of 11.33 and a beta of 0.48.

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.29%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently made changes to their positions in LOAN. Advisory Services Network LLC purchased a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $97,000. OLIO Financial Planning purchased a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $117,000. NewEdge Advisors LLC raised its stake in shares of Manhattan Bridge Capital by 28.4% in the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after acquiring an additional 6,215 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of Manhattan Bridge Capital by 13.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after acquiring an additional 3,324 shares during the period. Finally, LPL Financial LLC purchased a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $169,000. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.