NEW YORK, May 27, 2014 /PRNewswire/ -- CareTrust REIT
Inc. (NASD: CTREV) will replace Tower Group International, Ltd
(NASD: TWGP) in the S&P SmallCap 600 effective after the close
of trading on Monday, June 2. S&P
SmallCap 600 constituent The Ensign Group Inc. (NASD: ENSG) is
spinning off CareTrust REIT to shareholders in a transaction
expected to be completed after the close of trading on that date.
Post spin, The Ensign Group will remain in the S&P SmallCap
600. Tower Group is ranked near the bottom of the S&P SmallCap
600 and is no longer representative of that index.
CareTrust REIT, operating as a Real Estate Investment Trust
(REIT), is primarily engaged in the ownership, acquisition and
leasing of healthcare-related properties. Headquartered in
Mission Viejo, CA, the company
will be added to the S&P SmallCap 600 GICS (Global Industry
Classification Standard) Health Care REITs Sub-Industry index.
Following is a summary of the change:
S&P SMALLCAP
600 INDEX – June 2, 2014
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
CareTrust
REIT
|
Financials
|
Health Care
REITs
|
DELETED
|
Tower Group
International
|
Financials
|
Property &
Casualty Insurance
|
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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