Trinity Capital Could Move Higher As It Expands Dividend Coverage
Trinity Capital Inc. has shown strong performance in the business development company sector, rising approximately 15% this year. Despite a slight decrease in net asset value (NAV) per share, the company reported a net investment income (NII) that exceeded expectations. The expansion of its dividend coverage may further enhance its market position.
- ▪Trinity Capital has outperformed BDC peers year-to-date, rising roughly 15%.
- ▪The company reported a first-quarter NAV of $13.27 per share, which is a sequential dip but an increase year-over-year.
- ▪Trinity Capital's net investment income of $0.53 per share beat consensus estimates.
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