Cousins Properties to Join S&P MidCap 400; Community Health Systems, Ollie's Bargain Outlet and Parkway to Join S&P SmallCap 600

Cousins Properties to Join S&P MidCap 400; Community Health Systems, Ollie's Bargain Outlet and Parkway to Join S&P SmallCap 600

PR Newswire

NEW YORK, Oct. 3, 2016 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:

  • S&P SmallCap 600 constituent Cousins Properties Inc. (NYSE:CUZ) will replace Community Health Systems, Inc. (NYSE:CYH) in the S&P MidCap 400, Community Health Systems will replace Cousins Properties, and Ollie's Bargain Outlet Holdings, Inc. (NASD:OLLI) will replace Parkway Properties Inc. (NYSE:PKY) in the S&P SmallCap 600 after the close on Wednesday, October 5. Cousin Properties is acquiring Parkway Properties in a deal expected to be completed soon pending final conditions. Cousins Properties will have GICS change to Office REITs following the merger. Community Health Systems is ranked near the bottom of the S&P MidCap 400 and has a market capitalization more representative of the small-cap market space.
  • Parkway Inc (NYSE: PKY) will replace VOXX International Corp (NASD: VOXX) in the S&P SmallCap 600 after the close on Friday, October 7. Newly added S&P MidCap 400 constituent Cousins Properties Inc. is spinning off Parkway Inc. in a transaction that is expected to be completed by Thursday, October 6 pending final conditions. Cousins Properties will remain in the S&P MidCap 400 post spin off. Voxx International is ranked near the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.

Cousins Properties, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio. Headquartered in Atlanta, GA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Office REITs Sub-Industry index.

Community Health Systems owns, leases, and operates general acute care hospitals. Headquartered in Franklin, TN, the company will be added to the S&P SmallCap 600 GICS Healthcare Facilities Sub-Industry index.

Ollie's Bargain Outlet Holdings operates as a merchandise retailer of various brand name products. Headquartered in Harrisburg, PA, the Company will be added to the S&P SmallCap 600 GICS General Merchandise Stores Sub-Industry index.

Parkway a real estate investment trust (REIT), owns, develops, and manages real estate portfolio. Headquartered in Orlando, FL, the Company will be added to the S&P SmallCap 600 GICS Office REITs Sub-Industry index.

Following is a summary of the changes:

S&P MIDCAP 400 INDEX – October 5, 2016


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Cousins Properties

Real Estate

Office REITs

DELETED

Community Health Systems

Healthcare

Healthcare Facilities


S&P SMALLCAP 600 INDEX – October 5, 2016


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Community Health Systems

Healthcare

Healthcare Facilities


Ollie's Bargain Outlet Holdings

Consumer Discretionary

General Merchandise Stores

DELETED

Cousins Properties

Real Estate

Diversified REITs


Parkway Properties

Real Estate

Office REITs


S&P SMALLCAP 600 INDEX – October 7, 2016


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Parkway

Real Estate

Office REITs

DELETED

Voxx International

Consumer Discretionary

Distributors

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FOR MORE INFORMATION:

David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.b[email protected]

Soogyung Jordan
Global Head of Communications 
New York, USA
(+1) 212 438 2297
[email protected]

 

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SOURCE S&P Dow Jones Indices

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