TriplePoint Venture Growth Q3 net investment income falls, NAV per share declines

Overview

• US venture debt provider's Q3 net investment income fell year-over-year

• Net asset value per share declined to $8.32 from $8.73 at prior year-end

• Company declared Q4 regular distribution of $0.23 per share

Outlook

• Company declared Q4 2026 regular distribution of $0.23 per share

• Company to pay $0.06 per share supplemental distribution on December 30, 2026

• Company's adviser to waive quarterly income incentive fee through end of fiscal 2027

Result Drivers

• LOWER YIELDS - Co said lower investment yields, partly due to a lower Prime rate, reduced investment income in the qtr

• HIGHER INTEREST EXPENSES - Co reported increased interest expense and higher operating costs in the qtr

• REALIZED LOSSES - Co said realized losses were mainly due to the sale and write-off of investments in certain portfolio companies

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the investment management & fund operators peer group is "buy."

• Wall Street's median 12-month price target for Triplepoint Venture Growth BDC Corp is $5.50, about 22.2% above its November 3 closing price of $4.50

• The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 5 three months ago

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)