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 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.
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.
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