Cohen & Steers Announces Changes to Realty Indexes
Cohen & Steers (NYSE: CNS) announced upcoming changes to its International Realty Majors Portfolio Index (IRP) and Global Realty Majors Portfolio Index (GRM), effective August 21, 2020.
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Rhea-AI Summary
Cohen & Steers (NYSE: CNS) announced upcoming changes to its International Realty Majors Portfolio Index (IRP) and Global Realty Majors Portfolio Index (GRM), effective August 21, 2020. The adjustments include the addition of LondonMetric Property PLC (LMP.LN), Warehouses De Pauw SCA (WDP.BB), and Fabege AB (FABG.SS) to both indexes. Conversely, Unibail-Rodamco-Westfield (URW.NA), GPT Group (GPT.AU), and Hongkong Land Holdings Ltd. (HKL.SP) will be removed. These modified market capitalization-weighted total return indexes serve as benchmarks for real estate equity securities.
Positive
- Addition of LondonMetric Property PLC, Warehouses De Pauw SCA, and Fabege AB to both indexes enhances diversification.
- Indexes serve as valuable benchmarks for investors focusing on real estate securities.
Negative
- Removal of established companies like Unibail-Rodamco-Westfield and Hongkong Land Holdings could signal a shift away from recognized entities.
Details
News Market Reaction – CNS
The recorded move for CNS in the trading session of this news was +0.48%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, Aug. 14, 2020 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) announced today pending changes to its International Realty Majors Portfolio Index (IRP) and Global Realty Majors Portfolio Index (GRM), effective as of the close of business on August 21, 2020.
Cohen & Steers International Realty Majors Portfolio Index (IRP) | |
Added component (symbol) | Removed component (symbol) |
LondonMetric Property PLC (LMP.LN) | Unibail-Rodamco-Westfield (URW.NA) |
Warehouses De Pauw SCA (WDP.BB) | GPT Group (GPT.AU) |
Fabege AB (FABG.SS) | Hongkong Land Holdings Ltd. (HKL.SP) |
Cohen & Steers Global Realty Majors Portfolio Index (GRM) | |
Added component (symbol) | Removed component (symbol) |
LondonMetric Property PLC (LMP.LN) | Unibail-Rodamco-Westfield (URW.NA) |
Warehouses De Pauw SCA (WDP.BB) | GPT Group (GPT.AU) |
Fabege AB (FABG.SS) | Hongkong Land Holdings Ltd. (HKL.SP) |
These free-float adjusted, modified market capitalization-weighted total return indexes of selected real estate equity securities are quoted intraday on a real-time basis by the Chicago Mercantile Exchange. The Indexes' modified capitalization-weighted approach and qualitative screening process emphasize companies that Cohen & Steers believes are leading the securitization of real estate globally.
The Indexes can be used as indexing benchmarks, stock selection universes, underlying indexes for derivative instruments or performance benchmarks. All index weightings are independently calculated by Standard & Poor's.
Website: https://www.cohenandsteers.com/
Symbol: (NYSE: CNS)
About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong and Tokyo.
View original content:http://www.prnewswire.com/news-releases/cohen--steers-announces-changes-to-realty-indexes-301112551.html
SOURCE Cohen & Steers, Inc.
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