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

Key Points

• Trinity Capital Inc. declared a quarterly dividend of $0.51 per share, with payment scheduled for October 15th to investors of record by September 30th.
• The company has a payout ratio of 100.0%, indicating its current dividend is covered by earnings, but future earnings declines could jeopardize this coverage.
• Analysts have mixed ratings on Trinity Capital, with a consensus target price of $15.75, reflecting expectations of moderate stock performance moving forward.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) declared a quarterly dividend on Wednesday, September 17th, RTT News reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.51 per share on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Tuesday, September 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. 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 Price Performance

Shares of NASDAQ TRIN traded up $0.20 during midday trading on Friday, reaching $16.47. 1,326,355 shares of the stock were exchanged, compared to its average volume of 671,086. The business has a 50-day simple moving average of $15.64 and a two-hundred day simple moving average of $15.02. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 7.39 and a beta of 0.54. Trinity Capital has a 12 month low of $12.50 and a 12 month high of $16.82.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. The company had revenue of $69.48 million for the quarter, compared to analysts' expectations of $68.84 million. Trinity Capital had a net margin of 51.88% and a return on equity of 15.72%. Equities research analysts expect that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TRIN has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Trinity Capital from $17.00 to $17.50 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. B. Riley lifted their price target on shares of Trinity Capital from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company restated an "underweight" rating and set a $13.50 price objective (up from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.75.

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.