Townsquare Media, Inc. (NYSE:TSQ) to Issue $0.20 Quarterly Dividend

Townsquare Media, Inc. (NYSE:TSQ) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Tuesday, January 21st will be paid a dividend of 0.1975 per share on Saturday, February 1st. This represents a $0.79 annualized dividend and a dividend yield of 8.42%. The ex-dividend date of this dividend is Tuesday, January 21st.

Townsquare Media has a dividend payout ratio of 45.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Townsquare Media to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.79 annual dividend with an expected future payout ratio of 61.2%.

Townsquare Media Stock Performance

TSQ opened at $9.38 on Friday. The business has a 50 day moving average of $9.75 and a 200-day moving average of $10.27. Townsquare Media has a 52 week low of $8.70 and a 52 week high of $13.57.

Insider Activity

In other news, EVP Scott Schatz sold 5,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $9.64, for a total transaction of $48,200.00. Following the transaction, the executive vice president now directly owns 38,068 shares of the company’s stock, valued at $366,975.52. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Msd Capital L. P sold 5,139 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.03, for a total value of $51,544.17. Following the sale, the insider now directly owns 1,452,549 shares in the company, valued at $14,569,066.47. This trade represents a 0.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,525 shares of company stock worth $713,275 over the last 90 days. 34.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barrington Research reaffirmed an “outperform” rating and set a $17.00 target price on shares of Townsquare Media in a research note on Thursday, November 7th. StockNews.com raised Townsquare Media from a “hold” rating to a “buy” rating in a research note on Monday, November 11th.

About Townsquare Media

Townsquare Media, Inc operates as a digital media and marketing solutions company in small and medium-sized businesses. It operates through three segments: Subscription Digital Marketing Solutions, Digital Advertising, and Broadcast Advertising. The Subscription Digital Marketing Solutions segment offers website design, creation, and development, as well as hosting services; and search engine optimization, online directory optimization, e-commerce solutions, online reputation monitoring, social media management, appointment scheduling, payment and invoice, customer management, and email and SMS marketing services.