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

Trinity Capital Inc. (NASDAQ:TRIN) announced a monthly dividend on Wednesday, September 16th. Stockholders of record on Thursday, October 15th will be paid a dividend of 0.17 per share on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Thursday, October 15th.

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 decline. 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 1.1%

TRIN stock opened at $17.60 on Thursday. The stock has a market capitalization of $1.67 billion, a P/E ratio of 9.31 and a beta of 0.61. The firm has a 50-day simple moving average of $17.98 and a 200-day simple moving average of $16.76. Trinity Capital has a 52 week low of $14.13 and a 52 week high of $18.90.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $87.17 million for the quarter, compared to analyst estimates of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. On average, analysts expect that Trinity Capital will post 2.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price objective on Trinity Capital from $16.00 to $16.50 and gave the stock a “market perform” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.67.

About Trinity Capital

Trinity Capital Inc is a specialty finance company that provides debt financing to venture capital-backed companies in the growth and expansion stages of their development. The company primarily serves businesses that may have limited access to traditional bank financing, offering capital designed to support product development, hiring, acquisitions, working capital and other corporate needs.

Trinity’s financing solutions include venture debt, equipment financing and other customized loans.