Zacks Investment Research Downgrades Manhattan Bridge Capital Inc. (LOAN) to Hold

Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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.

Manhattan Bridge Capital (NASDAQ:LOAN) opened at 6.43 on Friday. The company’s 50-day moving average is $6.01 and its 200-day moving average is $4.96. The firm has a market cap of $46.89 million, a PE ratio of 17.91 and a beta of 0.17. Manhattan Bridge Capital has a one year low of $3.80 and a one year high of $6.49.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.22%. This is a boost from Manhattan Bridge Capital’s previous quarterly dividend of $0.09. Manhattan Bridge Capital’s dividend payout ratio 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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