BlackRock LT Municipal Advantage Trust (NYSE:BTA) has earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $359.29.

Several research analysts recently weighed in on the company. Numis Securities Ltd reiterated a “buy” rating and issued a GBX 390 ($5.17) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Monday, August 7th. Berenberg Bank reduced their target price on BlackRock LT Municipal Advantage Trust from GBX 343 ($4.55) to GBX 325 ($4.31) and set a “hold” rating on the stock in a research report on Monday, June 12th. J P Morgan Chase & Co decreased their price target on BlackRock LT Municipal Advantage Trust from GBX 330 ($4.38) to GBX 290 ($3.85) and set a “neutral” rating on the stock in a research note on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a GBX 340 ($4.51) price target on shares of BlackRock LT Municipal Advantage Trust in a research note on Wednesday, June 21st. Finally, Credit Suisse Group reiterated a “neutral” rating and set a GBX 320 ($4.24) price target on shares of BlackRock LT Municipal Advantage Trust in a report on Friday, September 15th.

BlackRock LT Municipal Advantage Trust (NYSE:BTA) traded down 0.16% during midday trading on Friday, hitting $12.17. The stock had a trading volume of 43,591 shares. The firm has a 50-day moving average of $12.22 and a 200-day moving average of $11.90. BlackRock LT Municipal Advantage Trust has a 12-month low of $10.73 and a 12-month high of $12.54.

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be given a $0.0545 dividend. This is an increase from BlackRock LT Municipal Advantage Trust’s previous monthly dividend of $0.05. This represents a $0.65 annualized dividend and a yield of 5.37%. The ex-dividend date is Friday, October 13th.

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Institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new stake 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 in the first quarter valued at approximately $133,000. First Allied Advisory Services Inc. acquired a new position in shares of BlackRock LT Municipal Advantage Trust in the second quarter valued at approximately $156,000. Oppenheimer & Co. Inc. grew its holdings 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 valued at $196,000 after purchasing an additional 3,650 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new stake in BlackRock LT Municipal Advantage Trust during the 2nd quarter worth approximately $366,000.

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).

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

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