Whitestone REIT Added to Russell Index

by Houston Agent

Whitestone REIT is the newest addition to the Russell 3000 Index and Russell 2000 Index. Whitestone REIT is a real estate company that owns, operates and re-develops properties in culturally diverse neighborhoods called Community Centered Properties. With these properties, it matches tenants with the shared needs of the surrounding community.

According to Business Wire, the annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, by ranking them by total market capitalization. The largest 1,000 companies in this ranking becoming the Russell 1000 and the next 2,000 companies become the Russell 2000. Investment managers and institutional investors use these indexes as a benchmark for investment strategies.

In June this year, Russell Investments reconstituted its set of U.S. and global equity indexes and added Whitestone REIT. Whitestone will hold membership within these indexes until Russell reconstitutes its indexes next June.

James C. Mastandrea, Whitestone’s chairman and CEO, said being added to the Russell 3000 Index is great, but being added to Russell 2000 is even better.

“We are pleased to be added to the Russell 2000, which reflects our continued positive momentum and efforts to increase shareholder value,” Mastandrea said. “We expect our inclusion will raise our profile and generate greater interest in our stock at an institutional investor level.”

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