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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.