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Real estate stocks will split off from financials in the S&P 500 later this year, and it looks like their old friends will miss them.
REITs have been a bright spot in an otherwise gloomy financial picture this year. They’ve helped limit declines in the overall financial sector, but once they move they won’t be able to prop up the financial sector’s softness anymore, the Wall Street Journal reports.
Financials as a whole have fallen more than 3% this year while the MSCI US REIT index is up 6.7%. Real estate shares will become the 11th sector of the S&P 500 on Sept. 19, 2016, according to the S&P Dow Jones Indices. [WSJ]
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