Welcome to our dedicated page for Manhattan Bridge news (Ticker: LOAN), a resource for investors and traders seeking the latest updates and insights on Manhattan Bridge 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 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.
Manhattan Bridge Capital (LOAN) announced the pricing of a public offering of 1,875,000 common shares at $7.20 each, anticipating gross proceeds of $13.5 million. The underwriter is granted a 30-day option for an additional 281,250 shares. Proceeds will primarily reduce outstanding credit line balances, with any remaining funds allocated for expanding the loan portfolio and general corporate purposes. The offering is set to close on July 9, 2021, contingent on customary conditions.
Manhattan Bridge Capital (NasdaqCM: LOAN) announced a proposed underwritten public offering of its common shares to reduce its existing credit line balance and for general corporate purposes. The offering may allow underwriters to purchase an additional 15% of the shares to cover over-allotments. The final offering size and terms will depend on market conditions. This offering follows an effective registration statement with the SEC. B. Riley Securities, Inc. will act as the book-running manager.
Manhattan Bridge Capital (NASDAQ: LOAN) announced a cash dividend of $0.125 per share, set to be distributed to shareholders of record on July 9, 2021. This dividend follows the board's earlier declaration on April 15, 2021, and will be paid out on July 15, 2021. The announcement underscores the company's commitment to returning value to its shareholders.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has declared a quarterly dividend of $0.125 per share. This dividend is set to benefit all shareholders of record on July 9, 2021, with payment scheduled for July 15, 2021. The announcement reflects the company's continued commitment to returning value to its shareholders.
Manhattan Bridge Capital (Nasdaq: LOAN) reported a net income of approximately $1,106,000 for Q1 2021, a rise of 8.9% from $1,016,000 in Q1 2020. Total revenues increased by 1.0% to about $1,729,000, attributed to lower interest and administrative expenses. Interest income from secured loans was $1,443,000, a slight decrease from $1,474,000 year-over-year. As of March 31, 2021, total shareholders' equity stood at approximately $33,073,000. The CEO expressed cautious optimism about the company's deal flow returning to pre-COVID levels.
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) has announced a cash dividend of $0.11 per share, payable on April 15, 2021, to shareholders of record by April 9, 2021. This announcement follows a board-approved dividend declaration made on February 8, 2021. The dividend payment reflects the company’s ongoing commitment to returning value to its shareholders.
Manhattan Bridge Capital reported a net income of approximately $4.23 million for the year ended December 31, 2020, a 5.9% decline from $4.50 million in 2019. Total revenue decreased 4.6% to about $7.01 million, primarily due to lower interest rates and reduced demand for loans amid the COVID-19 pandemic. The company's operating expenses fell slightly, with total operating costs at approximately $2.80 million. Despite these challenges, shareholders' equity saw a marginal increase to around $31.96 million. The CEO highlighted the company's zero default record since inception.
Manhattan Bridge Capital has declared a quarterly dividend of $0.11 per share for all shareholders of record on April 9, 2021. This dividend will be disbursed on April 15, 2021, showcasing the company's ongoing commitment to returning value to its investors. The announcement reflects the firm’s financial health and aims to enhance shareholder confidence.
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