BlackRock LT Municipal Advantage Trust (BTA) Rating Reiterated by Berenberg Bank

BlackRock LT Municipal Advantage Trust (NYSE:BTA)‘s stock had its “hold” rating restated by analysts at Berenberg Bank in a research report issued on Monday, May 15th, StockTargetPrices.com reports.

Other equities research analysts have also recently issued research reports about the company. HSBC Holdings plc reiterated a “buy” rating and issued a GBX 425 ($5.38) price objective on shares of BlackRock LT Municipal Advantage Trust in a report on Tuesday, February 7th. Jefferies Group LLC dropped their price objective on BlackRock LT Municipal Advantage Trust from GBX 400 ($5.06) to GBX 325 ($4.11) and set a “hold” rating for the company in a report on Friday, February 17th. BNP Paribas reiterated a “neutral” rating and issued a GBX 330 ($4.17) price objective on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, January 25th. J P Morgan Chase & Co dropped their price objective on BlackRock LT Municipal Advantage Trust from GBX 390 ($4.93) to GBX 330 ($4.17) and set a “neutral” rating for the company in a report on Wednesday, January 25th. Finally, Macquarie reiterated a “neutral” rating and issued a GBX 270 ($3.42) price objective on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, January 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $366.43.

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

Shares of BlackRock LT Municipal Advantage Trust (NYSE BTA) traded up 0.17% during midday trading on Monday, reaching $11.91. The company’s stock had a trading volume of 28,473 shares. The company has a market capitalization of $159.86 million and a P/E ratio of 10.73. BlackRock LT Municipal Advantage Trust has a 12-month low of $10.73 and a 12-month high of $13.44. The company’s 50-day moving average price is $11.76 and its 200 day moving average price is $11.49.

The business also recently disclosed a monthly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $0.0545 per share. This represents a $0.65 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date is Tuesday, June 13th.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its position in BlackRock LT Municipal Advantage Trust by 26.1% in the third quarter. Advisors Asset Management Inc. now owns 566,659 shares of the financial services provider’s stock worth $7,163,000 after buying an additional 117,441 shares during the period. Wells Fargo & Company MN raised its position 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 raised its position 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. Infrastructure Capital Advisors LLC bought a new position in BlackRock LT Municipal Advantage Trust during the fourth quarter worth $395,000. Finally, 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 buying an additional 24,489 shares during the period.

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).

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