Townsquare Media (TSQ) Declares $0.19 Dividend

Townsquare Media said on March 9, 2023 that its board of directors declared a regular quarterly dividend of $0.19 per share ($0.75 annualized). Previously, the company paid $0.08 per share.

Shares must be purchased before the ex-div date of March 24, 2023 to qualify for the dividend. Shareholders of record as of March 27, 2023 will receive the payment on May 1, 2023.

At the current share price of $8.40 / share, the stock's dividend yield is 8.93%. Looking back five years and taking a sample every week, the average dividend yield has been 4.57%, the lowest has been 2.97%, and the highest has been 9.87%. The standard deviation of yields is 1.03 (n=97).

The current dividend yield is 4.23 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 1.50%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 126.67% Upside

As of March 9, 2023, the average one-year price target for Townsquare Media is $19.04. The forecasts range from a low of $14.14 to a high of $24.15. The average price target represents an increase of 126.67% from its latest reported closing price of $8.40.

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The projected annual revenue for Townsquare Media is $481MM, an increase of 3.83%. The projected annual non-GAAP EPS is $2.02.

What is the Fund Sentiment?

There are 107 funds or institutions reporting positions in Townsquare Media. This is a decrease of 5 owner(s) or 4.46% in the last quarter. Average portfolio weight of all funds dedicated to TSQ is 0.12%, a decrease of 44.05%. Total shares owned by institutions decreased in the last three months by 1.30% to 9,329K shares. The put/call ratio of TSQ is 0.23, indicating a bullish outlook.

What are Large Shareholders Doing?

Msd Capital L P holds 1,519K shares representing 8.82% ownership of the company. No change in the last quarter.

American Century Companies holds 878K shares representing 5.10% ownership of the company. No change in the last quarter.

ASVIX - Small Cap Value Fund Investor Class holds 717K shares representing 4.16% ownership of the company. No change in the last quarter.

Beck Mack & Oliver holds 662K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 604K shares, representing an increase of 8.70%. The firm decreased its portfolio allocation in TSQ by 4.34% over the last quarter.

Renaissance Technologies holds 473K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 528K shares, representing a decrease of 11.56%. The firm decreased its portfolio allocation in TSQ by 13.43% over the last quarter.

Townsquare Media Background Information
(This description is provided by the company.)

Townsquare is a community-focused digital media, digital marketing solutions and radio company focused outside the Top 50 markets in the U.S. Our assets include Townsquare Interactive, a digital marketing services subscription business providing web sites, search engine optimization, social platforms and online reputation management for approximately 21,900 SMBs; Townsquare IGNITE, a proprietary digital programmatic advertising technology with an in-house demand and data management platform; and Townsquare Media, our portfolio of 322 local terrestrial radio stations in 67 cities with corresponding local news and entertainment websites and apps including legendary brands such as WYRK.com, WJON.com, and NJ101.5.com along with a network of national music brands including XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.

This story originally appeared on Fintel.