NEW YORK, Aug. 16 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P MidCap 400, SmallCap 600 and REIT Composite indices:
* Coldwater Creek Inc. (NASDAQ:CWTR) will replace Western Gas Resources Inc. (NYSE:WGR) in the S&P MidCap 400 after the close of trading on Wednesday, August 23. Western Gas is being acquired by S&P 500 constituent Anadarko Petroleum Corp. (NYSE:APC) in a deal expected to close on or about that date, pending final approvals. * S&P REIT Composite constituent Mid-America Apartment Communities Inc. (NYSE:MAA) will replace ESS Technology Inc. (NASDAQ:ESST) in the S&P SmallCap 600 after the close of trading on Tuesday, August 22. As of the close of trading Wednesday, August 16, ESS Technology had a market capitalization of roughly $53 million, ranking 600th in the index, and has traded below $2.00 per share for more than five consecutive days. * S&P REIT Composite constituent Senior Housing Properties Trust (NYSE:SNH) will replace Shurgard Storage Centers Inc. (NYSE:SHU) in the S&P SmallCap 600, and Highland Hospitality Corp. (NYSE:HIH) will replace Shurgard in the S&P REIT Composite, after the close of trading on Tuesday, August 22. Shurgard is being acquired by S&P 500 and S&P REIT Composite constituent Public Storage Inc. (NYSE:PSA) in a deal expected to close on or about that date, pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com.
Coldwater Creek offers women's apparel, accessories, jewelry and gift items. Headquartered in Sandpoint, ID, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Catalog Retail Sub-Industry index.
Mid-America Apartment Communities a real estate investment trust (REIT) engaged in the acquisition, ownership, and operation of apartment communities, primarily in the southeastern United States and Texas. Headquartered in Memphis, TN, the company will be added to the S&P SmallCap 600 GICS Residential REITs Sub-Industry index.
Senior Housing Properties Trust is a REIT that invests in hospitals, nursing homes, senior apartments, independent living properties, and assisted living properties. Headquartered in Newton, MA, the company will be added to the S&P SmallCap 600 GICS Specialized REITs Sub-Industry index.
Highland Hospitality is a lodging REIT focused on hotel investments in upscale full-service, premium limited-service and extended stay segments. Headquartered in McLean, VA, the company will be added to the S&P REIT Composite GICS Specialized REITs sub-Industry.
Following is a summary of the changes: S&P MIDCAP 400 INDEX - August 23, 2006 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Coldwater Creek Consumer Discretionary Catalog Retail DELETED Western Gas Energy Oil & Gas Storage Resources & Transportation S&P SMALLCAP 600 INDEX - August 22, 2006 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Mid-America Apt. Financials Residential REITs Communities Senior Housing Financials Specialized REITs Properties Trust DELETED ESS Technology Information Technology Semiconductors Shurgard Storage Financials Specialized REITs Centers S&P REIT COMPOSITE INDEX - August 22, 2006 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Highland Financials Specialized REITs Hospitality DELETED Shurgard Storage Financials Specialized REITs Centers
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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Source: Standard & Poor's