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Equity REITs and other publicly traded real estate companies were officially elevated to a new Real Estate Sector in the Global Industry Classification Standard (GICS), after the close of trading Sept. 16.
S&P Dow Jones Indices implemented the changes to coincide with their annual rebalance.
Equity REITs and other publicly traded real estate companies were moved out from the Financials Sector and into a standalone 11th sector. Mortgage REITs remain in the Financials Sector.
In the the latest episode of The REIT Report: NAREIT’s Weekly Podcast, Mike Grupe, NAREIT executive vice president for research and investor outreach, offered his perspective on the implications of real estate being elevated to a new headline sector under the Global Industry Classification Standard (GICS).
S&P Dow Jones Indices has published the revised structure of the Global Industry Classification Standard (GICS) that will take effect after the close of trade on Aug. 31, when stock exchange-listed Equity REITs and other listed real estate companies are elevated to a new Real Estate Sector.
Ed Fritsch, 2016 NAREIT Chair and president and CEO of Highwoods Properties, Inc. (NYSE: HIW), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.
Half-way through his term as 2016 NAREIT Chair, Fritsch observed that fundamentals across the REIT industry are “healthy.”
“Balance sheets are improved, dividends are fortified (and) interest in investment is strong,” he noted.
Stock exchange-listed equity REITs and other listed real estate companies will be reclassified from the Financials Sector and elevated to an 11th headline Real Estate Sector of the Global Industry Classification Standard (GICS), the leading global listed equity classification system maintained by MSCI Inc. and S&P Dow Jones Indices. Industry observers received the news as a major step in the growth of REIT-based real estate investment.
