BlackRock LT Municipal Advantage Trust (BTA) Given New GBX 450 Price Target at Barclays PLC

BlackRock LT Municipal Advantage Trust (NYSE:BTA) had its price target decreased by stock analysts at Barclays PLC from GBX 475 ($6.01) to GBX 450 ($5.69) in a note issued to investors on Friday, May 12th. The brokerage presently has an “overweight” rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. Macquarie reaffirmed a “neutral” rating and set a GBX 270 ($3.42) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Monday, May 8th. Berenberg Bank cut their price objective on shares of BlackRock LT Municipal Advantage Trust from GBX 400 ($5.06) to GBX 343 ($4.34) and set a “hold” rating for the company in a research report on Friday, May 5th. Goldman Sachs Group, Inc. (The) lowered their target price on BlackRock LT Municipal Advantage Trust from GBX 360 ($4.55) to GBX 350 ($4.43) and set a “neutral” rating for the company in a research note on Tuesday, April 25th. Deutsche Bank AG reissued a “sell” rating and set a GBX 275 ($3.48) target price on shares of BlackRock LT Municipal Advantage Trust in a research note on Monday, April 24th. Finally, HSBC Holdings plc lowered their target price on BlackRock LT Municipal Advantage Trust from GBX 420 ($5.31) to GBX 370 ($4.68) and set a “buy” rating for the company in a research note on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $366.43.

Analyst Recommendations for BlackRock LT Municipal Advantage Trust (NYSE:BTA)

BlackRock LT Municipal Advantage Trust (NYSE:BTA) traded up 0.17% during midday trading on Friday, hitting $11.91. 28,473 shares of the stock traded hands. The stock has a market cap of $159.86 million and a PE ratio of 10.73. The company has a 50-day moving average of $11.76 and a 200-day moving average of $11.49. BlackRock LT Municipal Advantage Trust has a 1-year low of $10.73 and a 1-year high of $13.44.

The company also recently announced a monthly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be issued a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend is Tuesday, June 13th.

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Institutional investors have recently modified their holdings of the company. First Allied Advisory Services Inc. boosted its position in shares of BlackRock LT Municipal Advantage Trust by 9.3% in the fourth quarter. First Allied Advisory Services Inc. now owns 13,052 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,108 shares in the last quarter. Oxbow Advisors LLC boosted its position 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 in the last quarter. Morgan Stanley boosted its position in shares of BlackRock LT Municipal Advantage Trust by 7.7% in the first quarter. Morgan Stanley now owns 33,682 shares of the financial services provider’s stock worth $386,000 after buying an additional 2,401 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position 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 in the last quarter. Finally, Sit Investment Associates Inc. boosted its position in shares of BlackRock LT Municipal Advantage Trust by 0.9% in the third quarter. Sit Investment Associates Inc. now owns 710,666 shares of the financial services provider’s stock valued at $8,983,000 after buying an additional 6,441 shares during the period.

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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