American Tower Stock Hits New 52-Week High (AMT)

NEW YORK ( TheStreet) -- American Tower (NYSE: AMT) hit a new 52-week high Wednesday as it is currently trading at $63, above its previous 52-week high of $62.97 with 980,618 shares traded as of 1:15 p.m. ET. Average volume has been 3.1 million shares over the past 30 days.

American Tower has a market cap of $24.29 billion and is part of the technology sector and telecommunications industry. Shares are up 4.1% year to date as of the close of trading on Tuesday.

American Tower Corporation, through its subsidiaries, operates as a wireless and broadcast communications infrastructure company. The company has a P/E ratio of 89.6, below the average telecommunications industry P/E ratio of 128.8 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, solid stock price performance, good cash flow from operations and expanding profit margins. 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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