Friday, September 2, 2016
S&P 500 to Add Eleventh Sector
For the first time since its creation in 1999, the Global Industry Classification Standard (GICS) has been updated to include an eleventh category in the S&P 500: Real Estate. For over 15 years now, property transactions have been included in the financial sector along with banking and insurance, but as of September 16, real estate companies will be ranked on their own scale. Several analysts believe this will spark an increase in the attention investors pay to real-estate investment trusts.
This new classification is a token of recognition of the real-estate sector growth; this summer proved to be the nation’s hottest housing market in almost a decade! According to the European Public Real Estate Association (ERPA), the real estate sector now accounts for 3.5% of the global equities market with a market capitalization of $1.48 trillion.
Want to read more? Click Here: http://www.wsj.com/articles/real-estate-shares-to-get-own-sector-1472575152
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