BlackRock LT Municipal Advantage Trust (BTA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) have received a consensus recommendation of “Hold” from the fifteen research firms that are covering the stock, MarketBeat reports. Two 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. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $344.64.

A number of analysts have issued reports on the company. Macquarie raised their target price on BlackRock LT Municipal Advantage Trust from GBX 355 ($4.75) to GBX 380 ($5.08) and gave the stock an “outperform” rating in a research note on Tuesday, November 7th. Goldman Sachs Group reaffirmed a “neutral” rating on shares of BlackRock LT Municipal Advantage Trust in a research note on Wednesday, September 13th. Credit Suisse Group cut their target price on BlackRock LT Municipal Advantage Trust from GBX 320 ($4.28) to GBX 280 ($3.74) and set a “neutral” rating for the company in a research note on Tuesday, November 7th. Citigroup downgraded BlackRock LT Municipal Advantage Trust to a “neutral” rating and cut their target price for the stock from GBX 360 ($4.81) to GBX 310 ($4.14) in a research note on Monday, October 9th. Finally, Numis Securities reaffirmed a “buy” rating and issued a GBX 390 ($5.21) target price on shares of BlackRock LT Municipal Advantage Trust in a research note on Thursday, November 2nd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new position in BlackRock LT Municipal Advantage Trust during the 3rd quarter valued at about $126,000. First Allied Advisory Services Inc. purchased a new position in BlackRock LT Municipal Advantage Trust during the 2nd quarter valued at about $156,000. Ameriprise Financial Inc. boosted its holdings in BlackRock LT Municipal Advantage Trust by 19.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,801 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 2,209 shares during the period. Laurion Capital Management LP purchased a new position in BlackRock LT Municipal Advantage Trust during the 2nd quarter valued at about $366,000. Finally, Van ECK Associates Corp boosted its holdings in BlackRock LT Municipal Advantage Trust by 14.6% during the 2nd quarter. Van ECK Associates Corp now owns 33,037 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 4,214 shares during the period.

Shares of BlackRock LT Municipal Advantage Trust (NYSE BTA) opened at $12.00 on Monday. BlackRock LT Municipal Advantage Trust has a 52 week low of $11.08 and a 52 week high of $12.54. The stock has a market capitalization of $161.20, a price-to-earnings ratio of 300.00 and a beta of -0.05.

The firm also recently declared a monthly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 16th will be issued a dividend of $0.0545 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, January 12th.

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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).

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

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