American Tower Rises On Unusually High Volume (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) is trading at unusually high volume Friday with 4.7 million shares changing hands. It is currently at two times its average daily volume and trading up $2.18 (+3.1%) at $72.62 as of 3:35 p.m. ET.

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American Tower has a market cap of $29.44 billion and is part of the financial sector and real estate industry. Shares are down 8.8% year to date as of the close of trading on Thursday.

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 50.3, 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, notable return on equity, expanding profit margins and increase in stock price during the past year. 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.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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