Trinity Capital Falls on Q1 Numbers

Trinity Capital Inc. (NASDAQ: TRIN) shares retreated Wednesday, as the Phoenix-based company a leading alternative asset manager, today announced its financial results for the first quarter ended March 31.Trinity boasted total investment income of $65.4 million, an increase of 29.5% year-over-yearNet investment income of $32.4 million, or $0.52 per basic share. Trinity also heralded its 21st consecutive quarter of a consistent or increased regular dividend, with a first-quarter distribution of $0.51 per share. Said CEO Kyle Brown "Even amidst ongoing macroeconomic uncertainty, we continue to evolve into a premier asset manager as we build on our momentum, expand our platform, and grow our portfolio while consistently generating solid returns and long-term value for our shareholders."Net increase in net assets resulting from operations was $27.1 million, or $0.43 per share, based on 62.6 million basic weighted average shares outstanding. This compares to a net increase in net assets resulting from operations of $14.5 million, or $0.31 per share, based on 46.7 million basic weighted average shares outstanding for the first quarter of 2024.TRIN shares began trading Wednesday dropped 16 cents, or 1.1%, to $13.94.