Manhattan Bridge Capital (LOAN) Declares $0.11 Dividend

Manhattan Bridge Capital said on March 13, 2023 that its board of directors declared a regular quarterly dividend of $0.11 per share ($0.45 annualized). Previously, the company paid $0.12 per share.

Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend. Shareholders of record as of April 10, 2023 will receive the payment on April 17, 2023.

At the current share price of $5.49 / share, the stock's dividend yield is 8.20%. Looking back five years and taking a sample every week, the average dividend yield has been 8.06%, the lowest has been 5.61%, and the highest has been 15.38%. The standard deviation of yields is 1.22 (n=236).

The current dividend yield is 0.11 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 30.05% Upside

As of March 14, 2023, the average one-year price target for Manhattan Bridge Capital is $7.14. The forecasts range from a low of $7.07 to a high of $7.35. The average price target represents an increase of 30.05% from its latest reported closing price of $5.49.

See our leaderboard of companies with the largest price target upside.

The projected annual non-GAAP EPS is $0.58.

What is the Fund Sentiment?

There are 50 funds or institutions reporting positions in Manhattan Bridge Capital. This is a decrease of 2 owner(s) or 3.85% in the last quarter. Average portfolio weight of all funds dedicated to LOAN is 0.04%, a decrease of 14.31%. Total shares owned by institutions increased in the last three months by 9.52% to 2,299K shares. The put/call ratio of LOAN is 0.71, indicating a bullish outlook.

What are Large Shareholders Doing?

Bard Associates holds 386K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 389K shares, representing a decrease of 0.99%. The firm decreased its portfolio allocation in LOAN by 8.65% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 254K shares representing 2.21% ownership of the company. No change in the last quarter.

Shufro Rose & Co holds 198K shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 194K shares, representing an increase of 2.02%. The firm decreased its portfolio allocation in LOAN by 18.51% over the last quarter.

Waddell & Associates holds 126K shares representing 1.10% ownership of the company.

Bellwether Advisors holds 124K shares representing 1.08% ownership of the company. In it's prior filing, the firm reported owning 79K shares, representing an increase of 36.49%. The firm decreased its portfolio allocation in LOAN by 99.86% over the last quarter.

Manhattan Bridge Capital Background Information
(This description is provided by the company.)

Manhattan Bridge Capital, Inc. offers short-term secured, non-banking loans (sometimes referred to as 'hard money' loans) to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area, including New Jersey and Connecticut, and in Florida.

This story originally appeared on Fintel.