Numis Securities Ltd Reaffirms Buy Rating for BlackRock LT Municipal Advantage Trust (BTA)

Numis Securities Ltd reissued their buy rating on shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) in a research note released on Thursday morning. The firm currently has a GBX 390 ($5.15) target price on the financial services provider’s stock.

A number of other research firms have also recently commented on BTA. Goldman Sachs Group, Inc. (The) reiterated a neutral rating on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, September 13th. Macquarie restated an outperform rating and set a GBX 355 ($4.68) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Thursday, September 14th. Credit Suisse Group restated a neutral rating and set a GBX 320 ($4.22) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Friday, September 15th. Barclays PLC restated an overweight rating and set a GBX 450 ($5.94) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Friday, October 13th. Finally, Citigroup Inc. downgraded shares of BlackRock LT Municipal Advantage Trust to a neutral rating and lowered their price objective for the company from GBX 360 ($4.75) to GBX 310 ($4.09) in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. BlackRock LT Municipal Advantage Trust has a consensus rating of Hold and a consensus price target of $345.33.

BlackRock LT Municipal Advantage Trust (NYSE BTA) traded up $0.05 during trading hours on Thursday, hitting $11.99. 38,920 shares of the stock were exchanged, compared to its average volume of 35,665. BlackRock LT Municipal Advantage Trust has a 1 year low of $10.73 and a 1 year high of $12.54.

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The firm also recently declared a monthly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a $0.0545 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.65 annualized dividend and a yield of 5.45%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BTA. Laurion Capital Management LP bought a new position in BlackRock LT Municipal Advantage Trust in the second quarter worth approximately $366,000. UBS Group AG raised its position 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 worth $1,958,000 after acquiring an additional 24,489 shares during the period. Wells Fargo & Company MN raised its position 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 worth $2,109,000 after acquiring an additional 23,691 shares during the period. First Trust Advisors LP raised its position 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 worth $1,118,000 after acquiring an additional 22,457 shares during the period. Finally, First Allied Advisory Services Inc. bought a new position in BlackRock LT Municipal Advantage Trust in the second quarter worth approximately $156,000.

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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