S&P GLOBAL, INC. NEW YORK, Oct. 3, 2016 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:
-- S&P SmallCap 600 constituent Cousins Properties Inc. (NYSE:CUZ) will
replace Community Health Systems, Inc. (NYSE:CYH) in the S&P MidCap 400,
Community Health Systems will replace Cousins Properties, and Ollie's
Bargain Outlet Holdings, Inc. (NASD:OLLI) will replace Parkway
Properties Inc. (NYSE:PKY) in the S&P SmallCap 600 after the close on
Wednesday, October 5. Cousin Properties is acquiring Parkway Properties
in a deal expected to be completed soon pending final conditions.
Cousins Properties will have GICS change to Office REITs following the
merger. Community Health Systems is ranked near the bottom of the S&P
MidCap 400 and has a market capitalization more representative of the
small-cap market space.
-- Parkway Inc (NYSE: PKY) will replace VOXX International Corp (NASD:
VOXX) in the S&P SmallCap 600 after the close on Friday, October 7.
Newly added S&P MidCap 400 constituent Cousins Properties Inc. is
spinning off Parkway Inc. in a transaction that is expected to be
completed by Thursday, October 6 pending final conditions. Cousins
Properties will remain in the S&P MidCap 400 post spin off. Voxx
International is ranked near the bottom of the S&P SmallCap 600 and is
no longer representative of the small-cap market space.
Cousins Properties, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio. Headquartered in Atlanta, GA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Office REITs Sub-Industry index.
Community Health Systems owns, leases, and operates general acute care hospitals. Headquartered in Franklin, TN, the company will be added to the S&P SmallCap 600 GICS Healthcare Facilities Sub-Industry index.
Ollie's Bargain Outlet Holdings operates as a merchandise retailer of various brand name products. Headquartered in Harrisburg, PA, the Company will be added to the S&P SmallCap 600 GICS General Merchandise Stores Sub-Industry index.
Parkway a real estate investment trust (REIT), owns, develops, and manages real estate portfolio. Headquartered in Orlando, FL, the Company will be added to the S&P SmallCap 600 GICS Office REITs Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX - October 5, 2016
--------------------------------------
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
------- -------------------- -----------------
ADDED Cousins Properties Real Estate Office REITs
----- ------------------ ----------- ------------
DELETED Community Health Systems Healthcare Healthcare Facilities
------- ------------------------ ---------- ---------------------
S&P SMALLCAP 600 INDEX - October 5, 2016
----------------------------------------
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
------- -------------------- -----------------
ADDED Community Health Systems Healthcare Healthcare Facilities
----- ------------------------ ---------- ---------------------
Ollie's Bargain Outlet
Holdings Consumer Discretionary General Merchandise Stores
----------------------- ---------------------- --------------------------
DELETED Cousins Properties Real Estate Diversified REITs
------- ------------------ ----------- -----------------
Parkway Properties Real Estate Office REITs
------------------ ----------- ------------
S&P SMALLCAP 600 INDEX - October 7, 2016
----------------------------------------
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
------- -------------------- -----------------
ADDED Parkway Real Estate Office REITs
----- ------- ----------- ------------
DELETED Voxx International Consumer Discretionary Distributors
------- ------------------ ---------------------- ------------
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FOR MORE INFORMATION:
David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spdji.com
Soogyung Jordan
Global Head of Communications
New York, USA
(+1) 212 438 2297
soogyung.jordan@spdji.com
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SOURCE S&P Dow Jones Indices
