The five new REITs include two recent IPOs, one recent REIT spin-out and two other evolving REIT business models.
On May 29, the MSCI REIT Index will be growing to 144 member equity REITs as a result of its semi-annual review process, by adding:
- Northstar Realty Finance (NYSE: NRF)
- Paramount Group Inc. (NYSE: PGRE)
- STORE Realty Capital (NYSE: STOR)
- Columbia Property Trust (NYSE: CXP)
- Xenia Hotels & Resorts (NYSE: XHR)
Paramount Group and STORE Realty were both recent REIT IPOs; while newly listed Xenia Hotels was recently spun out of a non-traded REIT.
Northstar's RMZ selection recognizes its evolution from an mREIT into a highly diversified equity REIT over the past few years.
Office REIT Columbia Property Trust clearly meets the overall RMZ selection criteria: 1) Member of MSCI US Investible Market 2500 Index, 2) Equity REIT, 3) Market cap of at least $100 million; plus an adequate number of shares and trading volume for a liquid market.
Tale Of The Tape - Since Recent IPOs
The Vanguard REIT Index ETF (NYSE: VNQ) efficiently tracks the RMZ charging just a 0.10 percent expense ratio. The 144 REITs comprise about two-thirds of the entire REIT sector by market cap.
1. Xenia Hotels & Resorts - REIT Spin
On February 3, 2015 shareholders of non-traded REIT Inland American received one share of Xenia ...
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