Citigroup Inc. Lowers BlackRock LT Municipal Advantage Trust (BTA) to Neutral

Citigroup Inc. cut shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) to a neutral rating in a research note released on Monday. They currently have GBX 310 ($4.08) price target on the financial services provider’s stock, down from their prior price target of GBX 360 ($4.73).

BTA has been the topic of several other reports. Macquarie reissued an outperform rating and issued a GBX 355 ($4.67) target price on shares of BlackRock LT Municipal Advantage Trust in a research report on Thursday, September 14th. Credit Suisse Group reissued a neutral rating and issued a GBX 320 ($4.21) target price on shares of BlackRock LT Municipal Advantage Trust in a research report on Friday, September 15th. Goldman Sachs Group, Inc. (The) reissued a neutral rating on shares of BlackRock LT Municipal Advantage Trust in a research report on Wednesday, September 13th. Numis Securities Ltd reissued a buy rating and issued a GBX 390 ($5.13) target price on shares of BlackRock LT Municipal Advantage Trust in a research report on Monday, August 7th. Finally, Deutsche Bank AG reissued a sell rating and issued a GBX 265 ($3.48) target price on shares of BlackRock LT Municipal Advantage Trust in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $355.00.

BlackRock LT Municipal Advantage Trust (NYSE BTA) opened at 12.40 on Monday. The company has a 50 day moving average of $12.28 and a 200-day moving average of $11.94. BlackRock LT Municipal Advantage Trust has a one year low of $10.73 and a one year high of $12.54.

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The company also recently disclosed a monthly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 15th were paid a $0.0545 dividend. This represents a $0.65 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Thursday, September 14th.

A number of large investors have recently added to or reduced their stakes in BTA. Cambridge Investment Research Advisors Inc. bought a new stake in BlackRock LT Municipal Advantage Trust in the 1st quarter worth approximately $132,000. Ameriprise Financial Inc. bought a new stake in BlackRock LT Municipal Advantage Trust in the 1st quarter worth approximately $133,000. First Allied Advisory Services Inc. bought a new stake in BlackRock LT Municipal Advantage Trust in the 2nd quarter worth approximately $156,000. Oppenheimer & Co. Inc. increased its stake in 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 worth $196,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Laurion Capital Management LP bought a new stake in BlackRock LT Municipal Advantage Trust in the 2nd quarter worth approximately $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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