The Berenberg Bank Reaffirms “Buy” Rating for BlackRock LT Municipal Advantage Trust (BTA)

The Berenberg Bank Reaffirms “Buy” Rating for BlackRock LT Municipal Advantage Trust (BTA)

Berenberg Bank reissued their buy rating on shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) in a research note issued to investors on Monday morning. They currently have a GBX 506 ($6.26) price objective on the stock.

BTA has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their target price on BlackRock LT Municipal Advantage Trust from GBX 490 ($6.06) to GBX 440 ($5.45) and set a neutral rating for the company in a report on Friday, September 2nd. Macquarie reiterated a neutral rating and set a GBX 395 ($4.89) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, July 20th. Societe Generale upgraded BlackRock LT Municipal Advantage Trust to a buy rating and set a GBX 545 ($6.75) price target for the company in a report on Friday, July 1st. Citigroup Inc. restated a buy rating and issued a GBX 440 ($5.45) price target on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, June 27th. Finally, Royal Bank Of Canada restated an outperform rating and issued a GBX 550 ($6.81) price target on shares of BlackRock LT Municipal Advantage Trust in a report on Friday, July 29th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. BlackRock LT Municipal Advantage Trust presently has an average rating of Hold and a consensus price target of GBX 462.93 ($5.73).

BlackRock LT Municipal Advantage Trust (NYSE:BTA) opened at 12.24 on Monday. The stock has a 50 day moving average of $12.64 and a 200-day moving average of $12.58. BlackRock LT Municipal Advantage Trust has a one year low of $10.95 and a one year high of $13.44.

The company also recently declared a dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 14th will be given a dividend of $0.054 per share. The ex-dividend date is Wednesday, October 12th.

Several large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its stake in BlackRock LT Municipal Advantage Trust by 24.9% in the second quarter. Advisors Asset Management Inc. now owns 449,218 shares of the company’s stock valued at $5,732,000 after buying an additional 89,626 shares in the last quarter. Mackay Shields LLC raised its stake in shares of BlackRock LT Municipal Advantage Trust by 381.1% in the second quarter. Mackay Shields LLC now owns 156,373 shares of the company’s stock valued at $1,995,000 after buying an additional 123,868 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of BlackRock LT Municipal Advantage Trust during the second quarter valued at $1,550,000. UBS Group AG raised its stake in shares of BlackRock LT Municipal Advantage Trust by 5.8% in the first quarter. UBS Group AG now owns 113,194 shares of the company’s stock valued at $1,347,000 after buying an additional 6,186 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of BlackRock LT Municipal Advantage Trust by 13.7% in the second quarter. Van ECK Associates Corp now owns 36,719 shares of the company’s stock valued at $469,000 after buying an additional 4,436 shares in the last quarter.

About BlackRock LT Municipal Advantage Trust

Related posts

Leave a Comment