Brokerages Set BlackRock LT Municipal Advantage Trust (BTA) PT at $354.64

BlackRock LT Municipal Advantage Trust (NYSE:BTA) has been assigned an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $354.64.

Several research analysts have recently weighed in on BTA shares. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a GBX 340 ($4.41) target price on shares of BlackRock LT Municipal Advantage Trust in a research note on Wednesday, June 21st. Deutsche Bank AG restated a “sell” rating and issued a GBX 265 ($3.44) target price on shares of BlackRock LT Municipal Advantage Trust in a research note on Tuesday, July 11th. Jefferies Group LLC decreased their target price 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 research note on Wednesday, May 31st. HSBC Holdings plc decreased their target price on shares of BlackRock LT Municipal Advantage Trust from GBX 420 ($5.45) to GBX 370 ($4.80) and set a “buy” rating for the company in a research note on Friday, April 21st. Finally, Royal Bank Of Canada decreased their target price on shares of BlackRock LT Municipal Advantage Trust from GBX 425 ($5.52) to GBX 410 ($5.32) and set an “outperform” rating for the company in a research note on Friday, May 12th.

COPYRIGHT VIOLATION NOTICE: “Brokerages Set BlackRock LT Municipal Advantage Trust (BTA) PT at $354.64” 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/2017/08/14/brokerages-set-blackrock-lt-municipal-advantage-trust-bta-pt-at-354-64.html.

A number of hedge funds have recently bought and sold shares of the stock. 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. Oxbow Advisors LLC boosted its stake in 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 valued at $245,000 after buying an additional 1,112 shares in the last quarter. Wells Fargo & Company MN boosted its stake in BlackRock LT Municipal Advantage Trust by 65.1% in the first quarter. Wells Fargo & Company MN now owns 155,076 shares of the financial services provider’s stock valued at $1,777,000 after buying an additional 61,163 shares in the last quarter. First Trust Advisors LP boosted its stake in BlackRock LT Municipal Advantage Trust by 29.5% in the first quarter. First Trust Advisors LP now owns 72,315 shares of the financial services provider’s stock valued at $829,000 after buying an additional 16,484 shares in the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in BlackRock LT Municipal Advantage Trust during the first quarter valued at about $133,000.

Shares of BlackRock LT Municipal Advantage Trust (NYSE BTA) traded up 0.08% during midday trading on Friday, hitting $11.98. 38,256 shares of the stock were exchanged. BlackRock LT Municipal Advantage Trust has a 12-month low of $10.73 and a 12-month high of $13.18. The firm has a 50 day moving average of $11.99 and a 200 day moving average of $11.70.

The business also recently declared a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.054 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.65 annualized dividend and a yield of 5.41%.

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