BlackRock LT Municipal Advantage Trust (NYSE:BTA) Raises Dividend to GBX 10.55 Per Share

BlackRock LT Municipal Advantage Trust (NYSE:BTA) announced a dividend on Thursday, May 11th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, August 10th will be paid a dividend of 10.55 per share by the financial services provider on Monday, September 4th. This represents a dividend yield of 3.38%. The ex-dividend date of this dividend is Thursday, August 10th. This is a positive change from BlackRock LT Municipal Advantage Trust’s previous dividend of $0.05. The official announcement can be accessed at this link.

BlackRock LT Municipal Advantage Trust has decreased its dividend by an average of 3.4% annually over the last three years.

Shares of BlackRock LT Municipal Advantage Trust (BTA) traded down 0.17% during midday trading on Friday, reaching $11.96. The company’s stock had a trading volume of 28,676 shares. The company has a 50 day moving average price of $12.00 and a 200-day moving average price of $11.71. BlackRock LT Municipal Advantage Trust has a 52 week low of $10.73 and a 52 week high of $13.18.

A number of research firms have commented on BTA. Deutsche Bank AG reiterated a “sell” rating and issued a GBX 265 ($3.44) price objective on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, August 2nd. Numis Securities Ltd restated a “buy” rating and set a GBX 390 ($5.06) price target on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a GBX 340 ($4.41) price target on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, June 21st. J P Morgan Chase & Co cut 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 for the company in a report on Wednesday, July 5th. Finally, Berenberg Bank cut 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 for the company in a report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $354.64.

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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).

Dividend History for BlackRock LT Municipal Advantage Trust (NYSE:BTA)

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