GREAT NECK, N.Y., March 27, 2026 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) (the “Company”) announced today that net income for the year ended December 31, 2025 was approximately $5,111,000, or $0.45 per share (based on approximately 11.4 million weighted-average outstanding common shares), versus approximately $5,591,000, or $0.49 per share (based on approximately 11.4 million weighted-average outstanding common shares) for the year ended December 31, 2024, a decrease of approximatel ...

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (State or other jurisdiction of incorporation or organization) New York 11-3474831 (I.R.S. Employer Identification No.) 60 Cutter Mill Road, Suite 205, Great Neck, NY 11021 (Address of Principal Executive Office) (Zip Code) (516) 444-3400 (Registrant's telephone number, including area co ...

Core Viewpoint - Ashford Hospitality Trust, Inc. has extended its Highland mortgage loan secured by 18 hotels, reducing the loan balance by $10 million to $723.6 million, which is approximately 65% of the appraised value, with a final maturity date set for July 9, 2026 [1] Group 1: Financial Adjustments - The company has suspended preferred dividends for various series of preferred stock as of December 31, 2025, including Series D, F, G, H, I, J, K, L, and M, which were payable on January 15, 2026 [2] - The company intends to pay previously declared but unpaid dividends as soon as reasonably practicable, with any accrued but unpaid dividends accruing according to the terms outlined in the governing documents for each series of preferred stock [2] Group 2: Company Profile - Ashford Hospitality Trust is a real estate investment trust (REIT) that primarily invests in upper upscale, full-service hotels [3]

Core Viewpoint - Manhattan Bridge Capital, Inc. has authorized a stock repurchase plan for up to 100,000 common shares over the next twelve months, indicating confidence in the company's future prospects amid a recent decline in stock price [1][2]. Company Overview - Manhattan Bridge Capital, Inc. specializes in providing short-term secured, non-banking loans, often referred to as "hard money" loans, to real estate investors for property acquisition and improvement in the New York metropolitan area, New Jersey, Connecticut, and Florida [3].

Core Insights - The financial sector is experiencing a trend of oversold stocks, presenting potential buying opportunities for undervalued companies [1][2] Company Summaries - **Trupanion Inc (NASDAQ:TRUP)**: Reported better-than-expected quarterly earnings with record profitability and subscription growth. The stock has fallen approximately 12% over the past month, with a current RSI of 29.6 and a closing price of $37.74 [8] - **LendingTree Inc (NASDAQ:TREE)**: Exceeded third-quarter estimates and raised FY2025 sales guidance. The stock has decreased around 14% in the last month, with an RSI of 29.2 and a closing price of $49.12 [8] - **Manhattan Bridge Capital Inc (NASDAQ:LOAN)**: Reported disappointing quarterly earnings but noted strong loan performance. The stock has declined about 11% over the past month, with an RSI of 28.9 and a closing price of $4.65 [8]

Core Insights - Manhattan Bridge Capital, Inc. reported a net income of approximately $1,202,000 for Q3 2025, a decrease of 14.1% from $1,399,000 in Q3 2024, primarily due to reduced revenue [1][2] - Total revenues for Q3 2025 were approximately $2,036,000, down 12.0% from $2,313,000 in Q3 2024, mainly driven by lower interest income and reduced origination fees [2][4] - For the nine months ended September 30, 2025, net income was approximately $3,988,000, a decrease of 6.9% from $4,285,000 in the same period of 2024 [3][4] Financial Performance - Q3 2025 net income per share was $0.11, compared to $0.12 in Q3 2024 [1][3] - Total revenues for the nine months ended September 30, 2025, were approximately $6,665,000, down 9.1% from $7,330,000 in the same period of 2024 [4] - Interest income from loans for Q3 2025 was approximately $1,770,000, compared to $1,953,000 in Q3 2024 [2][14] Revenue Breakdown - Interest income on secured commercial loans accounted for approximately $1,770,000 in Q3 2025, down from $1,953,000 in Q3 2024 [2][14] - Origination fees for Q3 2025 were approximately $265,000, compared to $360,000 in Q3 2024 [2][14] - For the nine months ended September 30, 2025, interest income was approximately $5,504,000, down from $6,128,000 in the same period of 2024 [4][14] Operational Insights - As of September 30, 2025, total stockholders' equity was approximately $43,317,000 [5] - The company continues to focus on deploying available funds into safe and secure loans despite challenges in the real estate market [6][7] - The company offers short-term secured loans primarily to real estate investors in the New York metropolitan area and Florida [7]

Financial Performance - Total revenue for the three months ended September 30, 2025, was $2,035,753, a decrease of 12.0% compared to $2,313,333 for the same period in 2024[16] - Net income for the three months ended September 30, 2025, was $1,202,180, down 14.1% from $1,399,286 in the prior year[16] - Net income for the nine months ended September 30, 2025, was $3,988,282, a decrease of 6.9% compared to $4,284,550 for the same period in 2024[28] - For the nine months ended September 30, 2025, total revenues were approximately $6,665,000, a decrease of $665,000 or 9.1% compared to the same period in 2024[75] - Basic and diluted net income per common share for the three months ended September 30, 2025, was $0.11, compared to $0.12 for the same period in 2024[16] Assets and Liabilities - Total assets decreased to $59,988,878 as of September 30, 2025, from $67,360,816 as of December 31, 2024, a reduction of 11.0%[13] - Total liabilities decreased to $16,672,006 as of September 30, 2025, from $24,095,689 as of December 31, 2024, a decline of 30.6%[13] - Loans receivable decreased to $57,961,155 as of September 30, 2025, from $65,405,731 as of December 31, 2024, representing a decline of 11.0%[13] - The Company’s loans receivable totaled $58,469,888 as of September 30, 2025, down from $65,974,265 at December 31, 2024, indicating a decrease of 11.4%[42] Cash Flow - Net cash provided by operating activities increased to $3,806,024 from $3,660,999, reflecting a growth of 4% year-over-year[28] - Cash flows from investing activities showed a significant increase, with net cash provided amounting to $7,517,081 compared to $4,726,869 in the previous year, representing a growth of 59.5%[28] - Net cash provided by investing activities rose to approximately $7,517,000 for the nine months ended September 30, 2025, compared to approximately $4,727,000 for the same period in 2024[81] - Net cash used in financing activities was $11,325,000 for the nine months ended September 30, 2025, an increase from approximately $9,912,000 in the prior year[82] Expenses - General and administrative expenses for the three months ended September 30, 2025, increased to $413,518, up 8.5% from $380,482 in the prior year[16] - General and administrative expenses increased to approximately $1,305,000 for the nine months ended September 30, 2025, reflecting an increase of $80,000, or 6.5% from the prior year[77] - The Company paid $1,346,361 in interest during the period, a decrease from $1,816,980 in the same period last year, reflecting a reduction of 26%[28] Dividends - The company declared dividends payable of $1,315,445 for both September 30, 2025, and September 30, 2024, indicating a consistent dividend policy[18] - The Company declared and payable dividends of $1,315,445, consistent with the previous year[28] Credit and Loans - The outstanding amount under the Amended Credit Agreement was $9,049,624 as of September 30, 2025, with an interest rate of approximately 7.8%[47] - The company has committed $4,871,256 in construction loans that can be drawn by borrowers when certain conditions are met as of September 30, 2025[68] - The Webster Credit Line provides a credit line of $32.5 million until February 28, 2026, with interest rates based on SOFR plus a premium[83] - The company plans to redeem its senior secured notes prior to maturity using proceeds from a replacement credit facility or the Webster Credit Line[50] - The company intends to continue selectively originating loans secured by first mortgages on real estate in the New York metropolitan area and Florida[65] Other Information - The accumulated deficit as of September 30, 2025, was $(1,196,218), an improvement from $(1,238,165) as of December 31, 2024[13] - The company has no loan impairments as of September 30, 2025, with all borrowers either paying interest or in the process of signing extension agreements[43] - The company adopted a share buyback program on April 11, 2023, repurchasing 56,294 common shares at an aggregate cost of $271,468[54] - Stock-based compensation expense recognized for the three-month periods ended September 30, 2025, and 2024 was $3,266[56] - The company has never foreclosed on a property since commencing business in 2007, although it filed a foreclosure lawsuit in June 2023[64] - Cash balance as of September 30, 2025 was approximately $186,000, compared to $178,000 at December 31, 2024[79] - The company expects current cash balances and cash flows from operations to be sufficient to fund operations over the next 12 months[91]

Core Insights - Ashford Hospitality Trust has successfully refinanced the mortgage loan for the 673-room Renaissance Hotel in Nashville, Tennessee, indicating positive developments in financing markets [1][4]. Financing Details - The new non-recourse loan has a balance of $218.1 million, with a two-year term and three one-year extension options, maturing in September 2030. The loan features an interest-only structure with a floating interest rate of SOFR + 2.26% [2]. - The previous loan was $267.2 million with a higher floating interest rate of SOFR + 3.98% [2]. Preferred Equity Investment - In conjunction with the refinancing, the preferred equity investment on the property was increased by $53.0 million, and the all-in rate of return on the preferred equity was reduced from 14% to 11.14% [3]. Management Commentary - The President and CEO of Ashford Trust expressed optimism regarding the improvement in financing markets, which facilitated the refinancing and is expected to result in significant annual interest expense savings [4].

Core Viewpoint - Ashford Hospitality Trust has successfully extended its Highland mortgage loan secured by 18 hotels, providing the company with additional time to benefit from anticipated interest rate cuts and improved financial metrics ahead of a longer-term refinancing [1][2]. Group 1: Loan Extension Details - The original final maturity date of the Highland mortgage loan was April 9, 2025, which has now been extended to January 9, 2026, with a potential further extension to July 9, 2026, subject to certain conditions [1]. - The current balance of the loan has been reduced to $733.6 million, representing approximately 68% of the appraised value of nearly $1.1 billion [2]. Group 2: Company Overview - Ashford Hospitality Trust is a real estate investment trust (REIT) that primarily invests in upper upscale, full-service hotels [3].

Core Viewpoint - Manhattan Bridge Capital, Inc. reported a decrease in total revenues for the second quarter of 2025, primarily due to lower interest income from a reduction in loans receivable, despite an increase in origination fees [1][3]. Financial Performance - Total revenues for Q2 2025 were approximately $2,355,000, down from $2,443,000 in Q2 2024, representing a decrease of $88,000 or 3.6% [1]. - For the first half of 2025, total revenues were approximately $4,629,000, compared to $5,016,000 for the same period in 2024, a decrease of $387,000 or 7.7% [3]. - Net income for Q2 2025 was approximately $1,413,000, or $0.12 per share, slightly up from $1,409,000, or $0.12 per share in Q2 2024 [2]. - For the first half of 2025, net income was approximately $2,786,000, or $0.24 per share, down from $2,885,000, or $0.25 per share in the first half of 2024, a decrease of $99,000 or 3.4% [4]. Revenue Breakdown - In Q2 2025, interest income from loans was approximately $1,899,000, down from $2,033,000 in Q2 2024, while origination fees increased to approximately $456,000 from $411,000 [1]. - For the first half of 2025, interest income was approximately $3,733,000, compared to $4,175,000 in the first half of 2024, with origination fees increasing to approximately $896,000 from $841,000 [3]. Market Conditions - The CEO noted that interest rates are impacting the real estate markets, leading to a slower pace of loan closings and longer loan terms, with a higher amount of extended loans beyond the initial one-year term [5]. Shareholder Equity - As of June 30, 2025, total shareholders' equity was approximately $43,427,000, reflecting a slight increase from $43,265,127 at the end of 2024 [5]. Company Overview - Manhattan Bridge Capital, Inc. specializes in offering short-term secured loans to real estate investors for property acquisition and improvement in the New York metropolitan area and Florida [6].