American Assets Trust Inc., a San Diego-based real estate investment trust, is being added to the S&P SmallCap 600 stock index, effective with the close of trading on Oct. 7.
Officials of New York-based S&P Dow Jones Indices, which is part of McGraw Hill Financial, said the REIT will replace Sourcefire Inc. of Maryland, which is being acquired by Cisco Systems Inc.
The SmallCap 600 index tracks 600 companies valued approximately between $300 million and $2 billion.
Headquartered in Carmel Valley, American Assets Trust as of June 30 reported gross real estate assets of $2 billion and liquidity of $291.1 million, including cash and available credit. The REIT invests in retail, office and multifamily properties, primarily on the West Coast.
American Assets Trust (NYSE: AAT) has been publicly traded since its start in 2011. It is the successor to American Assets Inc., a private corporation founded in 1967 by Ernest Rady, the current company’s executive chairman.
SDBJ Staff Report