Deutsche Bank AG reissued their sell rating on shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) in a research report released on Monday, July 24th. They currently have a GBX 265 ($3.44) price target on the financial services provider’s stock.
Several other brokerages have also commented on BTA. Goldman Sachs Group, Inc. (The) restated a neutral rating and issued a GBX 340 ($4.41) price target on shares of BlackRock LT Municipal Advantage Trust in a research note on Wednesday, June 21st. J P Morgan Chase & Co dropped their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 330 ($4.28) to GBX 290 ($3.76) and set a neutral rating on the stock in a research note on Wednesday, July 5th. Berenberg Bank dropped their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 343 ($4.45) to GBX 325 ($4.22) and set a hold rating on the stock in a research note on Monday, June 12th. Jefferies Group LLC decreased their price objective on shares of BlackRock LT Municipal Advantage Trust from GBX 325 ($4.22) to GBX 280 ($3.63) and set a hold rating for the company in a report on Wednesday, May 31st. Finally, BNP Paribas cut shares of BlackRock LT Municipal Advantage Trust to an underperform rating and set a GBX 260 ($3.38) price objective for the company. in a report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $354.64.
Shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) traded down 0.17% during midday trading on Monday, reaching $11.96. The company’s stock had a trading volume of 28,676 shares. The stock has a 50 day moving average of $12.00 and a 200-day moving average of $11.71. BlackRock LT Municipal Advantage Trust has a 1-year low of $10.73 and a 1-year high of $13.18.
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The firm also recently announced a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a dividend of $0.054 per share. This represents a $0.65 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Friday, August 11th.
Hedge funds have recently modified their holdings of the company. Oxbow Advisors LLC boosted its stake in shares of BlackRock LT Municipal Advantage Trust by 5.5% in the first quarter. Oxbow Advisors LLC now owns 21,387 shares of the financial services provider’s stock worth $245,000 after buying an additional 1,112 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of BlackRock LT Municipal Advantage Trust by 19.1% in the second quarter. Ameriprise Financial Inc. now owns 13,801 shares of the financial services provider’s stock worth $163,000 after buying an additional 2,209 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of BlackRock LT Municipal Advantage Trust by 0.5% in the second quarter. Advisors Asset Management Inc. now owns 470,246 shares of the financial services provider’s stock worth $5,549,000 after buying an additional 2,447 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of BlackRock LT Municipal Advantage Trust by 7.6% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 42,323 shares of the financial services provider’s stock worth $499,000 after buying an additional 2,976 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of BlackRock LT Municipal Advantage Trust by 27.1% in the first quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the financial services provider’s stock worth $196,000 after buying an additional 3,650 shares during the last quarter.
BlackRock LT Municipal Advantage Trust Company Profile
BlackRock Long-Term Municipal Advantage Trust (the Trust) is a non-diversified, closed-end management investment company. The Trust’s investment objective is to provide current income exempt from regular federal income tax. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in municipal obligations and derivative instruments with exposure to such municipal obligations, in each case that are exempt from federal income tax (except that the interest may be subject to the federal alternative minimum tax).
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