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

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) declared a quarterly dividend on Friday, June 20th, Wall Street Journal reports. Investors of record on Monday, June 30th will be paid a dividend of 0.51 per share on Tuesday, July 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.30%. The ex-dividend date is Monday, June 30th.

Trinity Capital has a 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 decline. 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 Down 0.2%

TRIN traded down $0.03 during trading on Friday, reaching $14.27. 1,150,808 shares of the company's stock were exchanged, compared to its average volume of 558,837. The company has a market capitalization of $922.49 million, a P/E ratio of 6.51 and a beta of 0.55. The business has a 50 day moving average price of $14.46 and a 200 day moving average price of $14.91. Trinity Capital has a fifty-two week low of $12.50 and a fifty-two week high of $16.82.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.01). Trinity Capital had a net margin of 50.74% and a return on equity of 15.91%. The business had revenue of $65.39 million for the quarter, compared to analyst estimates of $67.67 million. As a group, research analysts forecast that Trinity Capital will post 2.06 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. B. Riley began coverage on Trinity Capital in a report on Tuesday, May 13th. They issued a "buy" rating and a $16.00 target price for the company. Wells Fargo & Company dropped their price objective on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating for the company in a research note on Monday, April 28th. Keefe, Bruyette & Woods reduced their target price on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating on the stock in a research note on Thursday, May 8th. Finally, UBS Group dropped their target price on shares of Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research report on Thursday, April 17th.

Insider Buying and Selling

In related news, CEO Kyle Steven Brown purchased 3,513 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were acquired at an average cost of $14.22 per share, with a total value of $49,954.86. Following the completion of the purchase, the chief executive officer now directly owns 55,332 shares of the company's stock, valued at $786,821.04. This trade represents a 6.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard P. Hamada sold 3,335 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $14.90, for a total transaction of $49,691.50. Following the completion of the sale, the director now directly owns 93,735 shares of the company's stock, valued at approximately $1,396,651.50. This represents a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 6,213 shares of company stock worth $89,005 in the last three months. Insiders own 5.31% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Trinity Capital stock. Empowered Funds LLC purchased a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,456 shares of the company's stock, valued at approximately $234,000. Institutional investors and hedge funds own 24.62% of the company's stock.

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.

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