Manhattan Bridge

Manhattan Bridge Capital, Inc. engages in originating, servicing, and managing a portfolio of first mortgage loans. It offers short-term, secured, non-banking loans to real estate investors to fund their acquisition and construction of properties located in the New York Metropolitan area. The company was founded by Assaf N. Ran in 1989 and is headquartered in Great Neck, NY.

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GREAT NECK, N.Y., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) (the “Company”) announced today that its net income for the three months ended September 30, 2024 was approximately $1,399,000, or $0.12 per basic and diluted share (based on approximately 11.4 million weighted-average outstanding common shares), as compared to approximately $1,446,000, or $0.13 per basic and diluted share (based on approximately 11.5 million weighted-average outstanding common shares), for the three months ended September 30, 2023, a decrease of $47,000, or 3.3%. This decrease is primarily attributable to a decrease in revenue, partially offset by a decrease in interest expense.

Manhattan Bridge Capital, Inc. Reports Third Quarter 2024 Results

GREAT NECK, N.Y., July 29, 2024 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ: LO AN ) announced today that its board of directors has declared a quarterly dividend of $0.115 per share to be paid to all shareholders of record on October 8, 2024. The dividend will be paid on October 15, 2024.

Manhattan Bridge Capital, Inc. Declares Quarterly Dividend

GREAT NECK, N.Y., July 22, 2024 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq:  LOA N ) (the “Company”) announced today that its total revenues for the three months ended June 30, 2024 were approximately $2,443,000 compared to approximately $2,399,000 for the three months ended June 30, 2023, an increase of $44,000, or 1.8%. The increase in revenue was due to higher interest rates charged on the Company's commercial loans, partially offset by a reduction in loans receivable, period over period, and reduced origination fees, which were impacted by a slowdown in new loan originations. For the three months ended June 30, 2024 and 2023, approximately $2,033,000 and $1,943,000, respectively, of the Company's revenues were attributable to interest income on secured commercial loans that the Company offers to real estate investors, and approximately $411,000 and $457,000, respectively, of its revenues were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.

Manhattan Bridge Capital, Inc. Reports Second Quarter 2024 Results

GREAT NECK, N.Y., April 23, 2024 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced today that its net income for the three months ended March 31, 2024 was approximately $1,476,000, or $0.13 per share (based on approximately 11.4 million weighted-average outstanding common shares), compared to approximately $1,260,000, or $0.11 per share (based on approximately 11.5 million weighted-average outstanding common shares) for the three months ended March 31, 2023, an increase of $216,000, or 17.1%. This increase is primarily attributable to an increase in interest income from loans and a decrease in general and administrative expenses, partially offset by an increase in interest expense.

Manhattan Bridge Capital, Inc. Reports First Quarter Results for 2024

GREAT NECK, N.Y., March 28, 2024 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ: LOAN ) announced today that, in accordance with the board approved dividend declared on February 7, 2024, a cash dividend of $0.115 per share will be paid to all shareholders of record on April 10, 2024. The dividend will be paid on April 15, 2024.

Manhattan Bridge Capital, Inc. Announces Payment of Quarterly Dividend

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GREAT NECK, N.Y., March 11, 2024 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) (the “Company”) announced today that net income for the year ended December 31, 2023 was approximately $5,476,000, or $0.48 per share (based on approximately 11.5 million weighted-average outstanding common shares), versus approximately $5,212,000, or $0.45 per share (based on approximately 11.5 million weighted-average outstanding common shares) for the year ended December 31, 2022, an increase of $264,000, or 5.1%. This increase is primarily attributable to an increase in interest income from loans, partially offset by increases in interest expense and in general and administrative expenses.

Manhattan Bridge Capital, Inc. Reports Results for 2023

GREAT NECK, N.Y., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ: LOAN ) announced today that its board of directors has declared a quarterly dividend of $0.115 per share to be paid to all shareholders of record on April 10, 2024. The dividend will be paid on April 15, 2024.

Manhattan Bridge Capital, Inc. Declares an Increased Quarterly Dividend of $0.115 per Share

GREAT NECK, N.Y., Oct. 24, 2023 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) (the “Company”) announced today that its net income for the three months ended September 30, 2023 was approximately $1,446,000, or $0.13 per basic and diluted share (based on approximately 11.5 million weighted-average outstanding common shares), as compared to approximately $1,237,000, or $0.11 per basic and diluted share (based on approximately 11.5 million weighted-average outstanding common shares), for the three months ended September 30, 2022, an increase of $209,000, or 16.9%. This increase is primarily attributable to an increase in interest income from loans, partially offset by an increase in interest expense.

Manhattan Bridge Capital, Inc. Reports Third Quarter 2023 Results

GREAT NECK, N.Y., July 20, 2023 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) (the “Company”) announced today that its total revenues for the three months ended June 30, 2023 were approximately $2,399,000 compared to approximately $2,117,000 for the three months ended June 30, 2022, an increase of $282,000, or 13.3%. The increase in revenues was due to higher interest rates charged on the Company's commercial loans. For the three months ended June 30, 2023 and 2022, approximately $1,943,000 and $1,612,000, respectively, of the Company's revenues were attributable to interest income on secured commercial loans that the Company offers to real estate investors, and approximately $457,000 and $504,000, respectively, of its revenues were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.

Manhattan Bridge Capital, Inc. Reports Second Quarter 2023 Results

Manhattan Bridge: Juicy 9% Dividend But A Risky REIT Play.

Manhattan Bridge: Juicy 9% Dividend But A Risky REIT Play

GREAT NECK, N.Y., April 19, 2023 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced today that its net income for the three months ended March 31, 2023 was approximately $1,260,000, or $0.11 per share (based on approximately 11.5 million weighted-average outstanding common shares), compared to approximately $1,425,000 or $0.12 per share (based on approximately 11.5 million weighted-average outstanding common shares) for the three months ended March 31, 2022, a decrease of $165,000, or 11.6%. This decrease is primarily attributable to a significant increase in interest expense due to higher LIBOR/SOFR rates relating to the use of the Company's credit line in order to support its ability to increase loan originations and a special bonus to officers in 2023, partially offset by the increase in interest income.

Manhattan Bridge Capital, Inc. Reports First Quarter 2023 Results

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GREAT NECK, N.Y., April 11, 2023 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced that its Board of Directors has authorized a common stock repurchase plan allowing the buyback of up to 100,000 common shares in market or off-market transactions at prevailing prices over the next twelve months.

Manhattan Bridge Capital, Inc. Announces the Buy-back of up to 100,000 of its Common Shares

GREAT NECK, N.Y., March 10, 2023 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced today that net income for the year ended December 31, 2022 was approximately $5,212,000, or $0.45 per share (based on approximately 11.5 million weighted-average outstanding common shares), versus approximately $4,423,000, or $0.42 per share (based on approximately 10.5 million weighted-average outstanding common shares) for the year ended December 31, 2021, an increase of $789,000, or 17.8%. This increase is primarily attributable to an increase in revenue, partially offset by increases in interest expense and general and administrative expenses.

Manhattan Bridge Capital, Inc. Reports Results for 2022

LOAN is a hard-money lender that is having trouble raising rates while its liability costs increase. However, the company has low leverage and can therefore either reduce its balance sheet or provide liquidity when competitors become strained.

Manhattan Bridge Is Feeling Higher Rates But Fundamentals Are Still Strong

GREAT NECK, N.Y., Oct. 21, 2022 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced today that its net income for the three months ended September 30, 2022 was approximately $1,237,000, or $0.11 per basic and diluted share (based on approximately 11.5 million weighted-average outstanding common shares), as compared to approximately $1,110,000, or $0.10 per basic and diluted share (based on approximately 11.3 million weighted-average outstanding common shares), for the three months ended September 30, 2021, an increase of $127,000, or 11.4%. This increase is primarily attributable to an increase in revenue, partially offset by an increase in interest expense.

Manhattan Bridge Capital, Inc. Reports Third Quarter 2022 Results

GREAT NECK, N.Y., July 22, 2022 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced today that its total revenues for the three months ended June 30, 2022 were approximately $2,117,000 compared to approximately $1,713,000 for the three months ended June 30, 2021, an increase of $404,000, or 23.6%. The increase in revenue was due to an increase in lending operations. For the three months ended June 30, 2022 and 2021, approximately $1,612,000 and $1,424,000, respectively, of the Company's revenues were attributable to interest income on secured commercial loans that it offers to real estate investors, and approximately $504,000 and $290,000, respectively, of the Company's revenues were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.

Manhattan Bridge Capital, Inc. Reports Second Quarter 2022 Results

The New York hard money lender continued expanding its loan book by 5% QoQ. With semi-fixed interest expenses, the recent increase in interest rates has improved the company's interest margin.

Manhattan Bridge Offers An 8% Yield If You Can Handle The Risk

GREAT NECK, N.Y., April 14, 2022 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ: LOAN ) announced today that net income for the three months ended March 31, 2022 was approximately $1,425,000, or $0.12 per basic and diluted share (based on approximately 11.5 million weighted-average outstanding common shares), versus approximately $1,106,000, or $0.12 per basic and diluted share (based on approximately 9.6 million weighted-average outstanding common shares) for the three months ended March 31, 2021, an increase of $319,000, or 28.8%. This increase is primarily attributable to an increase in revenue, partially offset by an increase in general and administrative expenses.

Manhattan Bridge Capital, Inc. Reports First Quarter 2022 Results

GREAT NECK, N.Y., March 11, 2022 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ: LOAN ) announced today that net income for the year ended December 31, 2021 was approximately $4,423,000, or $0.42 per share (based on approximately 10.5 million weighted-average outstanding common shares), versus approximately $4,229,000, or $0.44 per share (based on approximately 9.6 million weighted-average outstanding common shares) for the year ended December 31, 2020, an increase in net income of $194,000, or 4.6%. This increase is primarily attributable to decreases in interest and payroll expenses, offset by a decrease in revenue.

Manhattan Bridge Capital, Inc. Reports Results for 2021

LOAN offers hard money loans to real estate developers mostly in New York with first mortgage as lien plus personal guarantee from principals. The company has very conservative lending practices and has never suffered a loan default in 14 years, even during the financial crisis.

Manhattan Bridge Is Well Positioned To Grow Under Higher Interest Rates

GREAT NECK, N.Y., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced today that its net income for the three months ended September 30, 2021 was approximately $1,110,000, or $0.10 per basic and diluted share (based on approximately 11.3 million weighted-average outstanding common shares), as compared to approximately $1,151,000, or $0.12 per basic and diluted share (based on approximately 9.6 million weighted-average outstanding common shares), for the three months ended September 30, 2020. The decrease is primarily attributable to a decrease in interest income from loans, partially offset by a decrease in interest expense.

Manhattan Bridge Capital, Inc. Reports Third Quarter 2021 Results

GREAT NECK, N.Y., July 23, 2021 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN ) announced today that its total revenues for the three months ended June 30, 2021 were approximately $1,713,000 compared to approximately $1,741,000 for the three months ended June 30, 2020, a decrease of $28,000, or 1.6%. The decrease in revenues was primarily attributable to lower interest rates charged on loans due to market conditions and intense competition from other lenders. For the three months ended June 30, 2021 and 2020, approximately $1,424,000 and $1,490,000, respectively, of our revenues were attributable to interest income on secured commercial loans that we offer to real estate investors, and approximately $290,000 and $251,000, respectively, of our revenues were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.

Manhattan Bridge Capital, Inc. Reports Second Quarter 2021 Results

GREAT NECK, N.Y., July 09, 2021 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NasdaqCM: LOAN), or Manhattan Bridge Capital, a real estate finance company specializing in originating, funding, servicing, and managing a portfolio of short-term loans secured by first mortgage liens on real estate, today announced the closing of its previously announced underwritten public offering of 1,875,000 common shares, par value $0.001 per share, at a price to the public of $7.20 per share. In connection with the offering, the Company has also granted the underwriter a 30-day option to purchase up to an additional 281,250 common shares offered in the public offering, at the same public offering price per share, less underwriting discounts and commissions, to cover over-allotments, if any. The Company intends to use the net proceeds from the offering primarily to reduce the outstanding balance of its existing credit line, and in the event that additional proceeds remain, to increase its loan portfolio and for general corporate purposes and working capital.

Manhattan Bridge Capital Announces Closing of Proposed Public Offering of Common Shares

News for Manhattan Bridge Stock (LOAN)