NEW YORK, May 15, 2024 /PRNewswire/ — Cohen & Steers, Inc. (NYSE: CNS) announced today additional pending changes to its Realty Majors Indexes, effective as of the close of business on May 17, 2024.
LondonMetric Property Plc replaces LXI REIT Plc in the Cohen & Steers Global Realty Majors Portfolio Index (GRM) and Cohen & Steers International Realty Majors Portfolio Index (IRP). The changes result from the former’s acquisition of the latter. Additional previously announced changes to the indexes are listed below.
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Cohen & Steers Realty Majors Portfolio Index (RMP) |
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Added component (symbol) |
Removed component (symbol) |
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Iron Mountain Inc. (IRM.US) |
Cousins Properties Inc. (CUZ.US) |
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Cohen & Steers Global Realty Majors Portfolio Index (GRM) |
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Added component (symbol) |
Removed component (symbol) |
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Iron Mountain Inc. (IRM.US) |
Cousins Properties Inc. (CUZ.US) |
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Unibail-Rodamco-Westfield (URW.FP) |
Assura Plc (AGR.LN) |
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LondonMetric Property Plc (LMP.LN) |
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Cohen & Steers International Realty Majors Portfolio Index (IRP) |
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Added component (symbol) |
Removed component (symbol) |
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Unibail-Rodamco-Westfield (URW.FP) |
Assura Plc (AGR.LN) |
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LondonMetric Property Plc (LMP.LN) |
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Cohen & Steers also previously announced a change to its Realty Majors Portfolio Index (RMP) capitalization policy. Currently, individual index constituent capitalization weights are limited to a maximum of 8%. Effective as of close of business on May 17, 2024, constituent weightings will now be subject to an additional adjustment if the sum of the constituents that individually have a weight greater than 4.5% exceeds 45% of the total index.
If the new rule is breached, all constituents with weights greater than 4.5% are sorted in ascending order. The first constituent’s weight that breaches this limit is reduced to 4.5%, and the excess weight is evenly redistributed to constituents with an unadjusted weight of less than 4.5%. This process is repeated until the sum of constituents with a weight greater than 4.5% is equal to or less than 45% of the total index.
The 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 leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.
SOURCE Cohen & Steers, Inc.