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CIT Group Set to Join S&P MidCap 400 and Tanger Factory Outlet Centers to Join S&P SmallCap 600

NEW YORK, Jan. 21, 2020 /PRNewswire/ -- CIT Group Inc. (NYSE:CIT) will replace Tanger Factory Outlet Centers, Inc. (NYSE:SKT) in the S&P MidCap 400 and Tanger Factory Outlet Centers will replace McDermott International, Inc. (NYSE:MDR) in the S&P SmallCap 600 effective prior to the open of trading on Monday, January 27. McDermott International announced it will file today to reorganize under Chapter 11 of the U.S. Bankruptcy Code.

CIT Group Inc. provides banking and related services to commercial and individual customers. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Regional Banks Sub-Industry index.

Tanger Factory Outlet Centers operates and owns, or has an ownership interest in, a portfolio of 39 upscale outlet shopping centers. Headquartered in Greensboro, NC, the company will be added to the S&P SmallCap 600 GICS Retail REITs Sub-Industry index.

Following is a summary of the changes:

S&P MIDCAP 400 INDEX – January 27, 2020


COMPANY

GICS ECONOMIC
SECTOR

GICS SUB-INDUSTRY

ADDED

CIT Group

Financials

Regional Banks

DELETED

Tanger Factory
Outlet Centers

Real Estate

Retail REITs

 

S&P SMALLCAP 600 INDEX – January 27, 2020


COMPANY

GICS ECONOMIC
SECTOR

GICS SUB-INDUSTRY

ADDED

Tanger Factory
Outlet Centers

Real Estate

Retail REITs

DELETED

McDermott
International

Energy

Oil & Gas Equipment &
Services

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