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. (NASDAQ: LOAN) is a real estate finance company that offers short-term, secured, non-banking loans, often described as hard money loans, to real estate investors. Its news flow reflects the activities of a lender focused on first mortgage loans secured by residential and commercial properties in the New York metropolitan area, including New Jersey and Connecticut, and in Florida.
News about LOAN frequently covers quarterly and year-to-date financial results. The company’s earnings releases detail interest income from loans, origination fees, total revenues, operating expenses and net income, along with commentary from management on loan originations, loan payoffs, leverage and conditions in the real estate markets where it operates. These updates provide insight into the performance of its loan portfolio and the impact of changes in loans receivable on revenue.
Another recurring theme in Manhattan Bridge Capital’s news is capital management. Press releases and 8-K filings report regular quarterly dividend declarations and payments on its common stock, including record and payment dates. In addition, the company has announced a share buyback program authorizing the repurchase of up to 100,000 common shares over a 12-month period, with flexibility to execute purchases in the open market or through privately negotiated transactions.
Regulatory and financing developments also appear in the company’s news. Recent 8-K filings describe the redemption of all outstanding 6.00% Senior Secured Notes due April 22, 2026, listed on the NYSE American under the symbol LOAN/26, and the establishment of a new credit facility of up to $10,000,000 for its subsidiary MBC Funding II Corp. with Valley National Bank. Coverage of shareholder meetings and voting results rounds out the news stream, highlighting director elections, auditor ratification and advisory votes on executive compensation.
Investors following Manhattan Bridge Capital’s news can use this page to review earnings announcements, dividend declarations and payments, share repurchase authorizations, credit facility arrangements, note redemptions and shareholder meeting outcomes related to LOAN.
Manhattan Bridge Capital (NASDAQ: LOAN) has announced its quarterly dividend payment details. The company will distribute a cash dividend of $0.115 per share to shareholders of record on April 8, 2025. The dividend payment is scheduled for April 15, 2025. This dividend distribution follows the board's approval declared on February 6, 2025.
Manhattan Bridge Capital (NASDAQ: LOAN) reported its 2024 financial results, showing a 2.1% increase in net income to $5.59 million ($0.49 per share) compared to $5.48 million ($0.48 per share) in 2023. Total revenue decreased by 1.1% to $9.69 million, primarily due to reduced loan originations and lower receivables.
Interest income from secured real estate loans increased to $8.05 million (2023: $7.98 million), while origination fees decreased to $1.64 million (2023: $1.82 million). Operating costs decreased by 5.5% to $4.12 million, mainly due to reduced borrowing costs and lower officer bonuses.
Total shareholders' equity grew to $43.27 million by December 31, 2024, up from $42.93 million in 2023. The company faced challenges from high interest rates affecting borrowers' liquidity and narrowing spreads between hard money and conventional bank lending rates.
Manhattan Bridge Capital (NASDAQ: LOAN) has announced its board of directors' declaration of a quarterly dividend of $0.115 per share. The dividend will be distributed to shareholders of record on April 8, 2025, with the payment scheduled for April 15, 2025.
Manhattan Bridge Capital (NASDAQ: LOAN) has announced a quarterly dividend of $0.115 per share. The dividend will be distributed to shareholders of record as of December 31, 2024, with the payment scheduled for January 15, 2025.
Manhattan Bridge Capital (NASDAQ: LOAN) reported Q3 2024 financial results with net income of $1,399,000 ($0.12 per share), down 3.3% from $1,446,000 ($0.13 per share) in Q3 2023. Total revenues decreased 5% to $2,313,000, primarily due to reduced loans receivable and slower loan originations, partially offset by higher interest rates. For the nine months ended September 30, 2024, net income increased 3.8% to $4,285,000 ($0.37 per share), with total revenues up 1.4% to $7,330,000. The company noted that a recent 0.5% interest rate reduction has renewed optimism among real estate investors after a slowdown in Q3.
Manhattan Bridge Capital (NASDAQ: LOAN) has announced the payment of its quarterly cash dividend. The company will distribute $0.115 per share to shareholders of record as of October 8, 2024. The dividend payment is scheduled for October 15, 2024. This dividend distribution aligns with the board's decision made on July 29, 2024, demonstrating the company's commitment to providing regular returns to its shareholders.
Manhattan Bridge Capital (NASDAQ: LOAN) has declared a quarterly dividend of $0.115 per share. This dividend will be paid on October 15, 2024, to shareholders of record as of October 8, 2024. The announcement, made on July 29, 2024, demonstrates the company's commitment to providing regular returns to its shareholders. Manhattan Bridge Capital, a real estate finance company, continues its tradition of quarterly dividend payments, which may be seen as a positive sign of financial stability and shareholder value creation.
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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