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:
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S&P 500 INDEX – November 9, 2015
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COMPANY
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GICS ECONOMIC SECTOR
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GICS SUB-INDUSTRY
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ADDED
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Four Corners
Property Trust
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Consumer Discretionary
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Restaurants
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S&P 500 INDEX – November 10, 2015
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COMPANY
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GICS ECONOMIC SECTOR
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GICS SUB-INDUSTRY
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DELETED
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Four Corners
Property Trust
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Consumer Discretionary
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Restaurants
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S&P SMALLCAP 600 INDEX – November 10, 2015
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COMPANY
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GICS ECONOMIC SECTOR
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GICS SUB-INDUSTRY
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ADDED
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Four Corners
Property Trust
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Financials
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Specialized REITs
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DELETED
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Approach
Resources
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Energy
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Oil & Gas Exploration &
Production
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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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