Press Releases
NEW YORK, May 1, 2019 /PRNewswire/ -- S&P SmallCap 600 constituent EastGroup Properties Inc. (NYSE: EGP) will replace The Ultimate Software Group Inc. (NASD: ULTI) in the S&P MidCap 400, and GMS Inc. (NYSE: GMS) will replace EastGroup Properties in the S&P SmallCap 600 effective prior to the open of trading on Tuesday, May 7. Hellman & Friedman is acquiring Ultimate Software Group in a transaction expected to be completed soon pending final conditions.
EastGroup Properties is a self-administered equity real estate investment trust (REIT) focused on the development, acquisition and operation of industrial properties. Headquartered in Ridgeland, MS, the company will be added to the S&P MidCap 400 Global Industry Classification Standard (GICS) Industrial REIT's Sub-Industry index.
GMS distributes wallboards, suspended ceilings systems, and related construction products. Headquartered in Tucker, GA, the company will be added to the S&P SmallCap 600 GICS Trading Companies & Distributors Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX – May 7, 2019 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | EastGroup Properties | Real Estate | Industrial REITs |
DELETED | Ultimate Software Group | Information Technology | Application Software |
S&P SMALLCAP 600 INDEX – May 7, 2019 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | GMS | Industrials | Trading Companies & Distributors |
DELETED | EastGroup Properties | Real Estate | Industrial REIT's |
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