BlackRock LT Municipal Advantage Trust’s (BTA) “Sell” Rating Reaffirmed at Deutsche Bank AG

Deutsche Bank AG restated their sell rating on shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) in a research report released on Monday, July 24th. The firm currently has a GBX 265 ($3.45) target price on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating and set a GBX 340 ($4.43) price target on shares of BlackRock LT Municipal Advantage Trust in a research report on Wednesday, June 21st. Jefferies Group LLC reduced their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 325 ($4.23) to GBX 280 ($3.65) and set a hold rating on the stock in a research report on Wednesday, May 31st. HSBC Holdings plc reduced their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 420 ($5.47) to GBX 370 ($4.82) and set a buy rating on the stock in a research report on Friday, April 21st. J P Morgan Chase & Co reduced their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 330 ($4.30) to GBX 290 ($3.78) and set a neutral rating on the stock in a research report on Wednesday, July 5th. Finally, Royal Bank Of Canada reduced their price target on shares of BlackRock LT Municipal Advantage Trust from GBX 425 ($5.53) to GBX 410 ($5.34) and set an outperform rating on the stock in a research report on Friday, May 12th. 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 stock. The stock has an average rating of Hold and a consensus price target of $354.64.

Shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) traded up 0.12% during trading on Monday, hitting $11.97. 138,722 shares of the stock traded hands. The company’s 50 day moving average is $11.99 and its 200 day moving average is $11.70. BlackRock LT Municipal Advantage Trust has a 52-week low of $10.73 and a 52-week high of $13.18.

COPYRIGHT VIOLATION NOTICE: “BlackRock LT Municipal Advantage Trust’s (BTA) “Sell” Rating Reaffirmed at Deutsche Bank AG” was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.com-unik.info/2017/08/12/blackrock-lt-municipal-advantage-trusts-bta-sell-rating-reaffirmed-at-deutsche-bank-ag-updated-updated.html.

The company also recently announced a monthly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.054 per share. The ex-dividend date is Friday, August 11th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.41%.

A number of hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its stake in 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 valued at $5,549,000 after buying an additional 2,447 shares in the last quarter. Wells Fargo & Company MN boosted its stake in BlackRock LT Municipal Advantage Trust by 15.3% in the second quarter. Wells Fargo & Company MN now owns 178,767 shares of the financial services provider’s stock valued at $2,109,000 after buying an additional 23,691 shares in the last quarter. UBS Group AG boosted its stake in BlackRock LT Municipal Advantage Trust by 16.7% in the first quarter. UBS Group AG now owns 170,825 shares of the financial services provider’s stock valued at $1,958,000 after buying an additional 24,489 shares in the last quarter. Mackay Shields LLC boosted its stake in BlackRock LT Municipal Advantage Trust by 48.2% in the first quarter. Mackay Shields LLC now owns 132,517 shares of the financial services provider’s stock valued at $1,519,000 after buying an additional 43,071 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in BlackRock LT Municipal Advantage Trust by 31.1% in the second quarter. First Trust Advisors LP now owns 94,772 shares of the financial services provider’s stock valued at $1,118,000 after buying an additional 22,457 shares in the last quarter.

About BlackRock LT Municipal Advantage Trust

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).

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

What are top analysts saying about BlackRock LT Municipal Advantage Trust? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for BlackRock LT Municipal Advantage Trust and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit