American Residential Properties, Inc. Set to Join Russell 3000® Index and Russell Global Index
SCOTTSDALE, Ariz., June 17, 2013 /PRNewswire/ -- American Residential Properties, Inc. (the "Company") (NYSE: ARPI) today announced that it expects to join the Russell 3000® Index and Russell Global Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes after close of the New York Stock Exchange on June 28, 2013, according to a preliminary list of additions posted by Russell Investments on June 14, 2013 on www.russell.com.
"We are delighted to be joining the Russell 3000 Index and Russell Global Index later this month, particularly since we so recently completed our initial public offering," said Stephen G. Schmitz, Chief Executive Officer and Chairman of the Board. "We look forward to the increased exposure to investors and the financial community as a result of our inclusion in these indexes."
Annual reconstitution of Russell Investment's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The Russell Global Index, which captures approximately 98% of investable securities globally, is reconstituted annually. Membership in the Russell 3000 Index and Russell Global Index remains in place for one year.
About American Residential Properties, Inc.
American Residential Properties, Inc. is an internally managed real estate company, organized as a real estate investment trust (REIT) for federal income tax purposes, that acquires, owns and manages single-family homes as rental properties in select communities nationwide. The Company's primary business strategy is to acquire, restore, lease and manage single-family homes as well-maintained investment properties to generate attractive risk-adjusted returns over the long-term. With a vertically integrated real estate acquisition and management platform incorporating disciplined acquisition criteria, extensive research, seasoned personnel, and comprehensive operations, the Company is well-positioned to execute its strategy.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. For example, although the Company currently expects that it will be included in the Russell 3000 Index and the Russell Global Index, Russell Investments is under no obligation to include the Company, and it may not do so. Investors should not place undue reliance upon forward-looking statements.
SOURCE American Residential Properties, Inc.