Royal Bank Of Canada Lowers BlackRock LT Municipal Advantage Trust (BTA) Price Target to GBX 410

BlackRock LT Municipal Advantage Trust (NYSE:BTA) had its price objective decreased by Royal Bank Of Canada from GBX 425 ($5.38) to GBX 410 ($5.19) in a research note published on Friday, May 12th. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.

Other analysts have also recently issued reports about the stock. HSBC Holdings plc cut their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 420 ($5.31) to GBX 370 ($4.68) and set a buy rating on the stock in a report on Friday, April 21st. Goldman Sachs Group, Inc. (The) cut their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 360 ($4.55) to GBX 350 ($4.43) and set a neutral rating on the stock in a report on Tuesday, April 25th. Berenberg Bank cut their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 400 ($5.06) to GBX 343 ($4.34) and set a hold rating on the stock in a report on Friday, May 5th. Barclays PLC cut their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 475 ($6.01) to GBX 450 ($5.69) and set an overweight rating on the stock in a report on Friday, May 12th. Finally, Macquarie reaffirmed a neutral rating and issued a GBX 270 ($3.42) price target on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, January 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $366.43.

Shares of BlackRock LT Municipal Advantage Trust (NYSE BTA) traded up 0.17% during trading on Friday, reaching $11.91. 28,473 shares of the company were exchanged. BlackRock LT Municipal Advantage Trust has a 1-year low of $10.73 and a 1-year high of $13.44. The stock has a market capitalization of $159.86 million and a P/E ratio of 10.73. The firm has a 50-day moving average price of $11.76 and a 200-day moving average price of $11.49.

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The firm also recently disclosed a monthly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a dividend of $0.0545 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.65 annualized dividend and a dividend yield of 5.49%.

Several institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in BlackRock LT Municipal Advantage Trust during the first quarter valued at $132,000. Ameriprise Financial Inc. acquired a new position in BlackRock LT Municipal Advantage Trust during the first quarter valued at $133,000. Doliver Capital Advisors Inc. acquired a new position in BlackRock LT Municipal Advantage Trust during the first quarter valued at $134,000. First Allied Advisory Services Inc. raised its position in 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 valued at $147,000 after buying an additional 1,108 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in 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 valued at $196,000 after buying an additional 3,650 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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