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American Tower Corp (AMT): Today's Featured Technology Laggard

American Tower (AMT) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 0.1%. By the end of trading, American Tower fell 48 cents (-0.7%) to $70.04 on average volume. Throughout the day, 2.8 million shares of American Tower exchanged hands as compared to its average daily volume of 2.6 million shares. The stock ranged in price between $69.96-$70.79 after having opened the day at $70.62 as compared to the previous trading day's close of $70.52. Other companies within the Technology sector that declined today were: Otelco Inc. Income Deposit Secs Units Cons (OTT), down 41.6%, EZChip Semiconductor (EZCH), down 25%, Enphase Energy (ENPH), down 24%, and Jive Software (JIVE), down 21.2%.

American Tower Corporation, a real estate investment trust, operates as a wireless and broadcast communications infrastructure company. It develops, owns, and operates communications sites. American Tower has a market cap of $28.65 billion and is part of the telecommunications industry. The company has a P/E ratio of 63, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 20.8% year to date as of the close of trading on Tuesday. Currently there are 16 analysts that rate American Tower a buy, no analysts rate it a sell, and two rate it a hold.

TheStreet Ratings rates American Tower as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the positive front, TechTarget (TTGT), up 22.9%, China Information Technology (CNIT), up 20%, CSP (CSPI), up 19%, and Clearwire (CLWR), up 18.5%, were all gainers within the technology sector with Mobile Telesystems OJSC (MBT) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR (XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology (REW).

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