American Tower Reaches New 52-Week High (AMT)

NEW YORK ( TheStreet) -- American Tower (NYSE: AMT) hit a new 52-week high Tuesday as it is currently trading at $61.15, above its previous 52-week high of $60.93 with 300,310 shares traded as of 10 a.m. ET. Average volume has been three million shares over the past 30 days.

American Tower has a market cap of $23.68 billion and is part of the technology sector and telecommunications industry. Shares are down 2% year to date as of the close of trading on Monday.

American Tower Corporation, through its subsidiaries, operates as a wireless and broadcast communications infrastructure company. The company has a P/E ratio of 87, below the average telecommunications industry P/E ratio of 125.5 and above the S&P 500 P/E ratio of 17.7.

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

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