Barclays PLC Reiterates “Overweight” Rating for BlackRock LT Municipal Advantage Trust (BTA)

Barclays PLC reiterated their overweight rating on shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) in a report released on Friday morning. They currently have a GBX 450 ($5.98) target price on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG reaffirmed a sell rating and issued a GBX 265 ($3.52) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, August 2nd. Numis Securities Ltd reaffirmed a buy rating and issued a GBX 390 ($5.18) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, September 13th. Macquarie reaffirmed an outperform rating and issued a GBX 355 ($4.72) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Thursday, September 14th. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a GBX 320 ($4.25) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $355.00.

BlackRock LT Municipal Advantage Trust (NYSE:BTA) opened at 12.31 on Friday. The firm has a 50-day moving average price of $12.30 and a 200 day moving average price of $11.95. BlackRock LT Municipal Advantage Trust has a 12 month low of $10.73 and a 12 month high of $12.54.

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The company also recently declared a monthly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Thursday, September 14th.

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of BlackRock LT Municipal Advantage Trust by 29.5% in the 1st quarter. First Trust Advisors LP now owns 72,315 shares of the financial services provider’s stock valued at $829,000 after acquiring an additional 16,484 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of BlackRock LT Municipal Advantage Trust by 27.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 3,650 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of BlackRock LT Municipal Advantage Trust by 65.1% in the 1st quarter. Wells Fargo & Company MN now owns 155,076 shares of the financial services provider’s stock valued at $1,777,000 after acquiring an additional 61,163 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of BlackRock LT Municipal Advantage Trust in the 1st quarter valued at $133,000. Finally, Laurion Capital Management LP bought a new position in shares of BlackRock LT Municipal Advantage Trust in the 2nd quarter valued at $366,000.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG reaffirmed a sell rating and issued a GBX 265 ($3.52) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, August 2nd. Numis Securities Ltd reaffirmed a buy rating and issued a GBX 390 ($5.18) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) reaffirmed a neutral rating on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, September 13th. Macquarie reaffirmed an outperform rating and issued a GBX 355 ($4.72) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Thursday, September 14th. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a GBX 320 ($4.25) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $355.00.

BlackRock LT Municipal Advantage Trust (NYSE:BTA) opened at 12.31 on Friday. The firm has a 50-day moving average price of $12.30 and a 200 day moving average price of $11.95. BlackRock LT Municipal Advantage Trust has a 12 month low of $10.73 and a 12 month high of $12.54.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://ledgergazette.com/2017/10/17/barclays-plc-reiterates-overweight-rating-for-blackrock-lt-municipal-advantage-trust-bta.html.

The company also recently declared a monthly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Thursday, September 14th.

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP lifted its stake in shares of BlackRock LT Municipal Advantage Trust by 29.5% in the 1st quarter. First Trust Advisors LP now owns 72,315 shares of the financial services provider’s stock valued at $829,000 after acquiring an additional 16,484 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of BlackRock LT Municipal Advantage Trust by 27.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 3,650 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of BlackRock LT Municipal Advantage Trust by 65.1% in the 1st quarter. Wells Fargo & Company MN now owns 155,076 shares of the financial services provider’s stock valued at $1,777,000 after acquiring an additional 61,163 shares during the last quarter. Ameriprise Financial Inc. bought a new position in shares of BlackRock LT Municipal Advantage Trust in the 1st quarter valued at $133,000. Finally, Laurion Capital Management LP bought a new position in shares of BlackRock LT Municipal Advantage Trust in the 2nd quarter valued at $366,000.

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).

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

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