Trinity Capital Inc. (NASDAQ:TRIN) Announces Monthly Dividend of $0.17

Trinity Capital Inc. (NASDAQ:TRIN) announced a monthly dividend on Wednesday, June 17th. Stockholders of record on Thursday, September 10th will be paid a dividend of 0.17 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Thursday, September 10th.

Trinity Capital has a dividend payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Trinity Capital to earn $2.12 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 96.2%.

Trinity Capital Stock Down 0.8%

Shares of NASDAQ:TRIN opened at $16.77 on Thursday. Trinity Capital has a 52-week low of $13.76 and a 52-week high of $17.38. The stock’s fifty day simple moving average is $16.48 and its 200-day simple moving average is $15.73. The company has a market capitalization of $1.51 billion, a P/E ratio of 8.87 and a beta of 0.62.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.01. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The business had revenue of $51.37 million for the quarter, compared to the consensus estimate of $85.87 million. On average, sell-side analysts anticipate that Trinity Capital will post 2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TRIN shares. Keefe, Bruyette & Woods upped their price objective on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. Wells Fargo & Company upped their price objective on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.64.

Trinity Capital Company Profile

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.