Welcome to our dedicated page for Manhattan Bridge Capital news (Ticker: LOAN), a resource for investors and traders seeking the latest updates and insights on Manhattan Bridge Capital stock.
Manhattan Bridge Capital, Inc. (symbol: LOAN) is a prominent real estate finance company situated at 192 Lexington Avenue, New York, New York, United States. Operating as a Real Estate Investment Trust (REIT), the company focuses on the origination, servicing, and management of a diversified portfolio of first mortgage loans. These loans are short-term, secured, and non-banking, providing essential funding to real estate investors for acquisition, renovation, rehabilitation, or development projects within the New York metropolitan area, including New Jersey, Connecticut, and Florida.
Manhattan Bridge Capital, Inc. caters to both residential and commercial property ventures, ensuring that investors have the necessary financial backing to bring their projects to fruition. Recognized for its reliability and expertise, the company has built a strong reputation in the real estate finance sector. The firm's strategic approach includes offering loan renewals or extensions, tailored to meet the evolving needs of their clients.
With a commitment to transparency and excellence, Manhattan Bridge Capital, Inc. has consistently delivered value to its shareholders while maintaining robust financial health. The company’s dynamic loan portfolio and focused regional strategy make it a significant player in the real estate finance market. Investors and stakeholders can stay updated with the latest performance metrics, ongoing projects, and recent achievements by following the company's news and announcements.
Manhattan Bridge Capital reported a net income of approximately $1,425,000 for Q1 2022, marking a 28.8% increase from $1,106,000 in Q1 2021. Earnings per share remained stable at $0.12. Total revenue rose 22.3% to $2,115,000, driven by robust lending operations, including interest income of $1,644,000 from secured commercial loans. However, this growth was partially offset by higher general and administrative expenses. As of March 31, 2022, shareholders’ equity stood at approximately $43,377,000.
Manhattan Bridge Capital reported a net income of approximately $4.423 million for the year ended December 31, 2021, or $0.42 per share, reflecting a 4.6% increase from $4.229 million in 2020. Total revenue decreased to $6.808 million, down 2.8% from $7.006 million due to lower interest rates and competition. Operating costs fell 14.1% to $2.402 million. Shareholders' equity rose to $43.386 million from $31.964 million in the previous year, aided by a successful share offering in July 2021, which raised approximately $13 million.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a quarterly dividend of $0.125 per share, payable to shareholders of record on April 8, 2022, with a payment date of April 15, 2022. CEO Assaf Ran highlighted that previous stock offerings had temporarily impacted dividend distributions, but affirmed that the dividend rate is now comfortable and reflective of the company's return on investment. The company specializes in providing short-term secured loans to real estate investors in the New York metropolitan area and Florida.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a cash dividend of $0.125 per share, set for payment on January 18, 2022. This dividend will benefit all shareholders recorded by December 31, 2021. The announcement follows the board's approval on November 9, 2021, reiterating the company's commitment to returning value to its shareholders through consistent dividend payments.
Manhattan Bridge Capital has declared a quarterly dividend of $0.125 per share for shareholders of record on December 31, 2021. The payment date is set for January 18, 2022. This initiative demonstrates the company's commitment to returning value to its shareholders. The proactive dividend declaration signals financial stability and confidence in future performance, positioning LOAN as an attractive option for income-focused investors.
Manhattan Bridge Capital (LOAN) reported a net income of approximately $1,110,000 for Q3 2021, down from $1,151,000 in Q3 2020, attributed to lower interest income despite decreased interest expenses. Total revenues for Q3 2021 were about $1,627,000, an 8.9% decline from $1,786,000 in the previous year, mainly due to lower loan interest rates and intense competition, offset by higher origination fees. Year-to-date, net income was stable at $3,274,000. The company's stockholders' equity rose to approximately $45,107,000 by September 30, 2021, reflecting a solid financial position.
Manhattan Bridge Capital (NASDAQ: LOAN) has announced a cash dividend of $0.125 per share, set to benefit all shareholders recorded by October 8, 2021. This dividend payment will be executed on October 15, 2021. This move reflects the company's commitment to returning value to its shareholders and maintaining a steady distribution policy.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has announced a quarterly dividend of $0.125 per share. The dividend is set to benefit all shareholders of record on October 8, 2021, with payment scheduled for October 15, 2021. This decision reflects the company's ongoing commitment to returning value to its shareholders.
Manhattan Bridge Capital reported total revenues of approximately $1,713,000 for Q2 2021, a slight decline of 1.6% from $1,741,000 in Q2 2020. The decrease was mainly due to lower interest rates and increased competition. Net income for the quarter was around $1,058,000, consistent in per-share earnings at $0.11. For the first half of 2021, total revenue reached $3,443,000, down from $3,452,000 in 2020, driven by similar factors. The company completed a public offering of 1,875,000 shares at $7.20 each, raising $13.5 million, which will bolster growth.
Manhattan Bridge Capital (LOAN) closed a public offering of 1,875,000 common shares at $7.20 each, raising significant capital. An additional 281,250 shares may be purchased by the underwriter. Proceeds will primarily be used to pay down existing credit lines and potentially expand the loan portfolio. This offering is registered under an effective shelf registration statement filed with the SEC. B. Riley Securities acted as the book-running manager. The company specializes in short-term, secured loans for real estate investments in the New York metro area and Florida.
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