American Tower Reaches New 52-Week High (AMT)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- American Tower (NYSE: AMT) hit a new 52-week high Wednesday as it is currently trading at $84.99, above its previous 52-week high of $84.98 with 1.1 million shares traded as of 12:45 p.m. ET. Average volume has been 2.2 million shares over the past 30 days.

American Tower has a market cap of $32.86 billion and is part of the technology sector and telecommunications industry. Shares are up 8.1% year to date as of the close of trading on Tuesday.

American Tower Corporation, a real estate investment trust, operates as a wireless and broadcast communications infrastructure company. It develops, owns, and operates communications sites. The company has a P/E ratio of 56.1, 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 robust revenue growth, notable return on equity, solid stock price performance 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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