NEW YORK ( TheStreet) -- American Tower (NYSE: AMT) hit a new 52-week high Monday as it is currently trading at $56.96, above its previous 52-week high of $56.84 with 709,532 shares traded as of 11:35 a.m. ET. Average volume has been 3.7 million shares over the past 30 days.

American Tower has a market cap of $21.8 billion and is part of the technology sector and telecommunications industry. Shares are up 9.1% year to date as of the close of trading on Friday.

American Tower Corporation, through its subsidiaries, operates as a wireless and broadcast communications infrastructure company. The company has a P/E ratio of 57.3, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates American Tower as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full American Tower Ratings Report.

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