BlackRock LT Municipal Advantage Trust (NYSE:BTA) had its price objective reduced by Goldman Sachs Group Inc from GBX 350 ($4.55) to GBX 340 ($4.42) in a report released on Wednesday. The brokerage presently has a “neutral” rating on the financial services provider’s stock.

BTA has been the subject of several other reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a GBX 330 ($4.29) target price on shares of BlackRock LT Municipal Advantage Trust in a research note on Thursday, February 9th. HSBC Holdings plc cut their target price on shares of BlackRock LT Municipal Advantage Trust from GBX 420 ($5.46) to GBX 370 ($4.81) and set a “buy” rating for the company in a research note on Friday, April 21st. Barclays PLC cut their target price on shares of BlackRock LT Municipal Advantage Trust from GBX 475 ($6.18) to GBX 450 ($5.85) and set an “overweight” rating for the company in a research note on Friday, May 12th. Macquarie reiterated a “neutral” rating and set a GBX 270 ($3.51) target price on shares of BlackRock LT Municipal Advantage Trust in a research note on Monday, May 8th. Finally, Deutsche Bank AG reiterated a “sell” rating and set a GBX 275 ($3.58) target price on shares of BlackRock LT Municipal Advantage Trust in a research note on Monday, April 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $376.64.

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

BlackRock LT Municipal Advantage Trust (NYSE:BTA) opened at 11.75 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 of $11.67 and a 200-day moving average of $11.43.

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. This is a boost from BlackRock LT Municipal Advantage Trust’s previous dividend of $0.05. The ex-dividend date of this dividend is Thursday, August 10th. This represents a dividend yield of 3.38%.

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Several institutional investors have recently made changes to their positions in BTA. Cambridge Investment Research Advisors Inc. acquired a new position in shares of BlackRock LT Municipal Advantage Trust during the first quarter worth about $132,000. Ameriprise Financial Inc. acquired a new position in shares of BlackRock LT Municipal Advantage Trust during the first quarter worth about $133,000. Doliver Capital Advisors Inc. acquired a new position in shares of BlackRock LT Municipal Advantage Trust during the first quarter worth about $134,000. First Allied Advisory Services Inc. boosted its position in shares of BlackRock LT Municipal Advantage Trust by 9.3% in the fourth quarter. First Allied Advisory Services Inc. now owns 13,052 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,108 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of BlackRock LT Municipal Advantage Trust by 27.1% in the first quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the financial services provider’s stock worth $196,000 after buying an additional 3,650 shares in the last quarter.

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).

12 Month Chart for NYSE:BTA

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