Press Releases
NEW YORK, July 11, 2017 /PRNewswire/ -- JBG SMITH Properties (NYSE: JBGS) will replace Chico's FAS Inc. (NYSE: CHS) in the S&P MidCap 400, and Chico's FAS will replace Stein Mart Inc. (NASD: SMRT) in the S&P SmallCap 600 effective prior to the open on Wednesday, July 19. S&P 500 constituent Vornado Realty Trust (NYSE: VNO) is spinning off JBG SMITH Properties in a transaction expected to be completed prior to the open on Tuesday, July 18, pending final conditions. Post spin-off, Vornado Realty will remain in the S&P 500. Chico's FAS is ranked near the bottom of the S&P MidCap 400 and is more representative of the small-cap market space. Stein Mart is ranked at the bottom of the S&P SmallCap 600 and no longer representative of the small-cap market space.
JBG SMITH Properties will be a publicly traded Real Estate Investment Trust (REIT) focused on residential, office, retail, and mixed-use properties in the Washington, DC market. Headquartered in Arlington, VA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Office REITs Sub-Industry index.
Chico's FAS operates as an omni-channel specialty retailer. Headquartered in Fort Myers, FL, the company will be added to the S&P SmallCap 600 GICS Apparel Retail Sub-Industry index.
Following is a summary of the changes:
|
S&P MIDCAP 400 INDEX – July 18, 2017 | |||
|
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY | |
|
ADDED |
JBG SMITH |
Real Estate |
Office REITs |
|
DELETED |
Chico's FAS |
Consumer Discretionary |
Apparel Retail |
|
S&P SmallCap 600 INDEX – July 18, 2017 | |||
|
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY | |
|
ADDED |
Chico's FAS |
Consumer Discretionary |
Apparel Retail |
|
DELETED |
Stein Mart |
Consumer Discretionary |
Apparel Retail |
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FOR MORE INFORMATION:
Soogyung Jordan
Global Head of Communications
New York, USA
(+1) 212 438 2297
soogyung.jordan@spglobal.com
David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com
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