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 (LOAN) is a real estate investment trust specializing in short-term secured loans for property investors. This page serves as the definitive source for official company news, providing stakeholders with timely updates on financial performance and strategic initiatives.
Access curated press releases and verified articles covering quarterly earnings, loan portfolio expansions, and regulatory developments. Our collection enables investors to monitor the company's position in the real estate finance sector, with particular focus on its New York metro area operations and REIT compliance.
Key updates include announcements about first mortgage loan originations, market penetration strategies, and risk management practices. All content is sourced directly from company filings and authorized communications to ensure accuracy.
Bookmark this page for streamlined access to Manhattan Bridge Capital's latest developments. Check regularly for updates on capital allocation decisions and regional real estate market impacts.
Manhattan Bridge Capital (Nasdaq: LOAN) reported its Q2 2024 results, showing a 1.8% increase in total revenues to $2,443,000 compared to Q2 2023. The company's net income slightly decreased by 0.9% to $1,409,000, or $0.12 per share. For the first half of 2024, total revenues rose by 4.6% to $5,016,000, with net income increasing by 7.6% to $2,885,000, or $0.25 per share. The revenue growth was primarily due to higher interest rates on commercial loans, partially offset by reduced loan receivables and slower new loan originations. As of June 30, 2024, total stockholders' equity stood at approximately $43,184,000. The company's CEO, Assaf Ran, noted that while real estate markets in their operational areas remain slow due to high interest rates, property prices are holding steady or increasing due to inventory and inflation impacts.
Manhattan Bridge Capital has announced its quarterly dividend payment of $0.115 per share, in line with the board's declaration on March 12, 2024. Shareholders of record by July 10, 2024, will receive the dividend on July 15, 2024. This reflects the company's ongoing commitment to providing returns to its investors and maintaining a consistent dividend payout policy.
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