Shares of Manhattan Bridge Capital (NASDAQ:LOAN) rose 17.1% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share rose 9.09% year over year to $0.12, which were in line with the estimate of $0.12.
Revenue of $1,729,000 rose by 1.05% from the same period last year, which beat the estimate of $1,220,000.
Guidance
Earnings guidance hasn’t been issued by the company for now.
Revenue guidance hasn’t been issued by the company for now.
Technicals
Company’s 52-week high was at $6.69
52-week low: $3.60
Price action over last quarter: Up 15.28%
Company Profile
Manhattan Bridge Capital Inc operates as a real estate investment trust that specializes 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, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. The primary business objective of the company is to grow its loan portfolio while protecting and preserving capital in a manner that provides for attractive risk-adjusted returns to its shareholders over the long-term through dividends. The company generates revenue in the form of interest income from loans.
