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

Trinity Capital Inc. (NASDAQ:TRIN) announced a monthly dividend on Wednesday, September 16th. Shareholders 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 of this dividend is Thursday, October 15th.

Trinity Capital has a dividend payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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 Trading Down 1.1%

TRIN opened at $17.60 on Thursday. The business’s 50 day moving average is $17.98 and its 200-day moving average is $16.76. The stock has a market cap of $1.67 billion, a PE ratio of 9.31 and a beta of 0.61. Trinity Capital has a twelve month low of $14.13 and a twelve month high of $18.90.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 $87.17 million during the quarter, compared to the consensus estimate of $91.44 million. As a group, analysts forecast that Trinity Capital will post 2.1 EPS for the current year.

Insider Buying and Selling at Trinity Capital

In related news, CEO Kyle Brown acquired 2,296 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $18.04 per share, for a total transaction of $41,419.84. Following the completion of the acquisition, the chief executive officer directly owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.25% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

Hedge funds have recently modified their holdings of the company. Nomura Asset Management Co. Ltd. bought a new position in Trinity Capital during the fourth quarter valued at about $25,000. Trust Co. of Vermont acquired a new position in shares of Trinity Capital in the 2nd quarter worth approximately $25,000. Burk Holdings LLC bought a new stake in shares of Trinity Capital in the 2nd quarter worth approximately $32,000. Sunbelt Securities Inc. acquired a new stake in Trinity Capital during the first quarter valued at approximately $37,000. Finally, Fifth Third Bancorp acquired a new position in Trinity Capital in the first quarter worth approximately $37,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

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.