BlackRock LT Municipal Advantage Trust (BTA) Target Price Lowered to GBX 280

BlackRock LT Municipal Advantage Trust (BTA) Target Price Lowered to GBX 280

BlackRock LT Municipal Advantage Trust (NYSE:BTA) had its target price dropped by research analysts at Jefferies Group LLC from GBX 325 ($4.17) to GBX 280 ($3.60) in a report released on Wednesday. The brokerage presently has a “hold” rating on the financial services provider’s stock.

Several other analysts have also issued reports on BTA. HSBC Holdings plc cut their price objective on BlackRock LT Municipal Advantage Trust from GBX 420 ($5.39) to GBX 370 ($4.75) and set a “buy” rating for the company in a report on Friday, April 21st. Berenberg Bank reiterated a “hold” rating on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, May 15th. Goldman Sachs Group Inc reiterated a “neutral” rating and set a GBX 340 ($4.37) price objective (down from GBX 350 ($4.50)) on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, May 24th. Macquarie reiterated a “neutral” rating and set a GBX 270 ($3.47) price objective on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, May 8th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a GBX 330 ($4.24) price objective on shares of BlackRock LT Municipal Advantage Trust in a report on Thursday, February 9th. Two equities 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 company. BlackRock LT Municipal Advantage Trust currently has an average rating of “Hold” and an average target price of $368.43.

BlackRock LT Municipal Advantage Trust (BTA) opened at 11.83 on Wednesday. BlackRock LT Municipal Advantage Trust has a 52 week low of $10.73 and a 52 week high of $13.44. The stock has a 50 day moving average price of $11.70 and a 200 day moving average price of $11.44.

The firm also recently disclosed a dividend, which will be paid on Monday, September 4th. Stockholders of record on Thursday, August 10th will be paid a $10.55 dividend. The ex-dividend date is Thursday, August 10th. This is a positive change from BlackRock LT Municipal Advantage Trust’s previous dividend of $0.05. This represents a dividend yield of 3.38%.

Several institutional investors have recently bought and sold shares of BTA. UBS Group AG increased 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 worth $1,958,000 after buying an additional 24,489 shares during the period. Wells Fargo & Company MN increased 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 worth $1,777,000 after buying an additional 61,163 shares during the period. Mackay Shields LLC increased 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 worth $1,519,000 after buying an additional 43,071 shares during the period. First Trust Advisors LP increased 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 worth $829,000 after buying an additional 16,484 shares during the period. Finally, Infrastructure Capital Advisors LLC purchased a new stake in BlackRock LT Municipal Advantage Trust during the fourth quarter worth $395,000.

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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BTA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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