Whitestone REIT to Leave S&P SmallCap 600 on July 14 After Ares Acquisition
WSR•Whitestone REIT will be deleted from the S&P SmallCap 600 prior to trading on July 14, replaced by Centrus Energy Corp after Ares Management completes its acquisition. The deal closing on that date triggers index reconstitution and will prompt passive funds to sell Whitestone shares.
1. Index Removal Details
Effective before trading opens on July 14, S&P Dow Jones Indices will remove Whitestone REIT from the S&P SmallCap 600 and add Centrus Energy Corp to the benchmark. This change reflects the anticipated completion of Ares Management’s acquisition, with Centrus Energy taking Whitestone’s weighting upon the transaction’s closing.
2. Acquisition and Reconstitution
Ares Management’s takeover of Whitestone REIT, expected to close on or about July 14, prompts the index reconstitution as Whitestone will no longer qualify as an independent small-cap. Passive funds tracking the SmallCap 600 will liquidate Whitestone positions and purchase Centrus Energy shares, likely influencing trading volumes and liquidity for both names.
