Trinity Capital Inc. (NASDAQ:TRIN) Announces $0.51 Quarterly Dividend

Trinity Capital Inc. (NASDAQ:TRIN) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.51 per share on Tuesday, April 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.89%. The ex-dividend date is Monday, March 31st.

Trinity Capital has raised its dividend payment by an average of 17.4% per year over the last three years. Trinity Capital has a payout ratio of 97.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Trinity Capital to earn $2.11 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 96.7%.

Trinity Capital Stock Performance

Shares of NASDAQ:TRIN opened at $15.83 on Friday. The business’s 50-day simple moving average is $15.76 and its 200 day simple moving average is $14.70. The company has a market cap of $994.61 million, a P/E ratio of 9.26 and a beta of 0.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. Trinity Capital has a one year low of $13.05 and a one year high of $16.82.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $70.83 million for the quarter, compared to analysts’ expectations of $64.13 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. On average, sell-side analysts forecast that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRIN. Keefe, Bruyette & Woods raised their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th. Wells Fargo & Company lifted their price objective on Trinity Capital from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Friday, February 28th.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.