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NEW YORK, Nov. 25, 2019 /PRNewswire/ -- Safehold Inc. (NYSE:SAFE) will replace Oritani Financial Corp. (NASD:ORIT) in the S&P SmallCap 600 effective prior to the open of trading on Tuesday, December 3. S&P MidCap 400 constituent Valley National Bancorp (NASD:VLY) is acquiring Oritani Financial in a transaction expected to be completed soon pending final conditions.
Safehold is a publicly traded REIT that originates and acquires ground leases. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Specialized REITs Sub-Industry index.
Following is a summary of the change:
S&P SMALLCAP 600 INDEX – December 3, 2019 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | Safehold | Real Estate | Specialized REITs |
DELETED | Oritani Financial | Financials | Thrifts & Mortgage Finance |
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