Trinity Capital Q4 Net Investment Income Climbs

(RTTNews) - Trinity Capital Inc. (TRIN), an investment bank, on Wednesday registered a rise in net investment income for the fourth-quarter, supported by an increase in total investment income.

For the three-month period, the lender registered a net investment income of $25.067 million, higher than $21.631 million, posted for the same period last year.

Net investment income declined to $0.54 per share from previous year's $0.57 per share.

The basic weighted average shares outstanding were at 44.3 million, compared with 35.1 million basic weighted average shares outstanding a year ago.

Net realized gain from investments was $0.773 million, compared with a loss of $9.571 million in the previous year.

Pre-tax net investment income moved up to $25.751 million from $22.033 million in 2022.

Total net assets increased to $611.2 million from the third-quarter's $569.5 million, primarily driven by net investment income. Net Asset Value per share was at $13.19, up from $13.17 per share of the third-quarter.

Total investment income was $47.834 million, up from last year's $41.509 million. The effective yield on the average debt investments at cost was 16.7 percent and 15.5 percent for the three-month periods ended December 31, 2023 and 2022, respectively.