NEW YORK, Nov. 26 /PRNewswire/ -- S&P REIT Composite constituent Camden Property Trust will replace Applebee's International Inc. in the S&P MidCap 400 after the close of trading on a date to be announced. Applebee's is being acquired by S&P SmallCap 600 constituent IHOP Corp. in a deal that is still pending final approvals.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Camden is a REIT that engages in the ownership, development, construction, and management of middle- to upper-market multifamily communities. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Residential REITs Sub-Industry index.
Following is a summary of the change: S&P MIDCAP 400 INDEX - To Be Announced COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Camden Property Trust Financials Residential REITs DELETED Applebee's Consumer Discretionary Restaurants
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
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