Trinity Capital Inc
NASDAQ:TRIN
Trinity Capital Inc
Trinity Capital, Inc. engages in operation of an internally managed specialty lending company. The company is headquartered in Phoenix, Arizona and currently employs 41 full-time employees. The company went IPO on 2021-01-29. The company is a specialty lending company that provides debt, including loans and equipment financings, to growth stage companies, including venture-backed companies and companies with institutional equity investors. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation through its investments. The firm seeks to achieve its investment objective by making investments consisting primarily of term loans and equipment financings and, to a lesser extent, working capital loans, equity and equity-related investments. Its equipment financings involve loans for general or specific use, including acquiring equipment, that are secured by the equipment or other assets of the portfolio company. The firm targets its investments in growth stage companies, which are typically private companies.
Trinity Capital, Inc. engages in operation of an internally managed specialty lending company. The company is headquartered in Phoenix, Arizona and currently employs 41 full-time employees. The company went IPO on 2021-01-29. The company is a specialty lending company that provides debt, including loans and equipment financings, to growth stage companies, including venture-backed companies and companies with institutional equity investors. The Company’s investment objective is to generate current income and, to a lesser extent, capital appreciation through its investments. The firm seeks to achieve its investment objective by making investments consisting primarily of term loans and equipment financings and, to a lesser extent, working capital loans, equity and equity-related investments. Its equipment financings involve loans for general or specific use, including acquiring equipment, that are secured by the equipment or other assets of the portfolio company. The firm targets its investments in growth stage companies, which are typically private companies.
Strong NII Growth: Net investment income reached $37 million, up 29% year-over-year, exceeding the dividend payout and supporting continued distribution.
Record NAV: Net asset value grew 8% quarter-over-quarter to $998 million, with NAV per share rising to $13.31.
Robust Investment Activity: Trinity funded $471 million in Q3, pushing year-to-date investments to $1.1 billion, almost matching 2024’s total.
Portfolio Quality: Nonaccruals remained low at 1% of the portfolio, with 99% of investments performing at fair value and strong diversification across industries.
Asset Management Expansion: Platform AUM increased to over $2.6 billion, up 28% year-over-year, and the company continues to scale its managed funds business.
Dividend Consistency: The company declared a $0.51 per share cash dividend for Q3, its 23rd consecutive quarterly payout.
Muted Rate Cut Impact: Interest rate cuts have had limited effect due to loan rate floors and are expected to have only a muted impact going forward.
Pipeline & Capital: The investment pipeline remains strong with $1.2 billion in unfunded commitments and over $200 million of current capacity in new off-balance sheet vehicles.
