Four Corners Property Trust Set to Join the S&P SmallCap 600

02 Nov, 2015, 18:32 ET from S&P Dow Jones Indices

NEW YORK, Nov. 2, 2015 /PRNewswire/ -- Four Corners Property Trust Inc. (NYSE: FCPT) will replace Approach Resources Inc. (NASD: AREX) in the S&P SmallCap 600 after the close of trading on Tuesday, November 10. Four Corners Property Trust will be added to the S&P 500 for one day after the close of trading on Monday, November 9 on a zero price basis, reflecting its spin-off from S&P 500 constituent Darden Restaurants Inc. (NYSE: DRI). Approach Resources is ranked near the bottom of the S&P SmallCap 600 and is no longer appropriate for that index.

Four Corners Property Trust, a real estate investment trust (REIT), will be primarily engaged in the ownership, acquisition, and leasing of restaurant properties. Headquartered in Orlando, FL, 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 500 INDEX – November 9, 2015

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Four Corners Property Trust

Consumer Discretionary

Restaurants

 

S&P 500 INDEX – November 10, 2015

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

DELETED

Four Corners Property Trust

Consumer Discretionary

Restaurants

 

S&P SMALLCAP 600 INDEX – November 10, 2015

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Four Corners Property Trust

Financials

Specialized REITs

DELETED

Approach Resources

Energy

Oil & Gas Exploration & Production

 

Additions to and deletions from S&P  Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

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SOURCE S&P Dow Jones Indices



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