BlackRock LT Municipal Advantage Trust (NYSE:BTA) declared a monthly dividend on Monday, February 5th, Wall Street Journal reports. Investors of record on Thursday, February 15th will be paid a dividend of 0.0545 per share by the financial services provider on Thursday, March 1st. This represents a $0.65 annualized dividend and a yield of 5.72%. The ex-dividend date is Wednesday, February 14th.
BlackRock LT Municipal Advantage Trust has decreased its dividend payment by an average of 9.4% per year over the last three years.
BlackRock LT Municipal Advantage Trust (NYSE BTA) opened at $11.43 on Tuesday. BlackRock LT Municipal Advantage Trust has a 1-year low of $11.08 and a 1-year high of $12.54. The company has a market cap of $153.42, a price-to-earnings ratio of 29.31 and a beta of -0.13.
BTA has been the subject of several recent research reports. Macquarie increased their target price on shares of BlackRock LT Municipal Advantage Trust from GBX 355 ($4.90) to GBX 380 ($5.25) and gave the stock an “outperform” rating in a report on Tuesday, November 7th. Deutsche Bank restated a “sell” rating and set a GBX 265 ($3.66) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, November 1st. Numis Securities restated a “buy” rating and set a GBX 390 ($5.39) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Thursday, November 2nd. Finally, Credit Suisse Group reduced their target price on shares of BlackRock LT Municipal Advantage Trust from GBX 320 ($4.42) to GBX 280 ($3.87) and set a “neutral” rating for the company in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. BlackRock LT Municipal Advantage Trust currently has an average rating of “Hold” and a consensus price target of $334.62.
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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).
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