VANCOUVER, March 16, 2015 /CNW/ - Pure Industrial Real Estate Trust ("PIRET") (TSX: AAR.UN) announced today that it has received notification from S&P Dow Jones Canadian Index Services that PIRET will be added to the S&P/TSX Composite Index effective after close on March 20, 2015.
S&P Dow Jones Canadian Index Services made the announcement in their press release dated March 13, 2015.
The S&P/TSX Composite Index is the headline index in Canada and serves as an indicator of broad market activity in Canadian equity markets. It includes the largest and most liquid companies on the Toronto Stock Exchange, as measured by market capitalization and trading volume. Inclusion in the Index can potentially broaden participation in a company's investor base by enabling investment from index funds and similar investment vehicles.
Kevan Gorrie, PIRET's President and Co-CEO stated, " Over the past year, PIRET has grown to become one of Canada's top 20 largest REITs by market cap, and one of Canada's top five most liquid real estate investment trusts by average daily trading volume. Inclusion in the Composite Index is expected to increase liquidity and investor demand, as well as improve our global visibility."
PIRET today also announced that its Board of Trustees has approved a cash distribution of $0.026 per trust unit for the month of March 2015 (equivalent to $0.312 per trust unit on an annualized basis). This distribution will be paid on April 15, 2015 to unitholders of record at the close of business on March 31, 2015.
The policy of PIRET is to pay cash distributions on or about the 15th day of each month to the unitholders of record on the last business day of the preceding month.
PIRET units are listed on the TSX under the symbol AAR.UN. PIRET currently has 188,816,870 trust units issued and outstanding.
About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon the indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about S&P Dow Jones Indices LLC, please visit www.spdji.com.
About Pure Industrial Real Estate Trust
PIRET is an unincorporated, open-ended investment trust that owns and operates a diversified portfolio of income-producing industrial properties in leading markets. PIRET is an internally managed REIT that focuses exclusively on investing in industrial properties.
TSX – AAR.UN
Certain statements contained in this press release may constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "plan", "expect", "may", "will", "intend", "should", and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements in this news release include that: (i) Inclusion in the Composite Index is expected to increase liquidity and investor demand, as well as improve our global visibility.
Although PIRET believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because PIRET can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, competitive factors in the industries in which PIRET operates, prevailing economic conditions, and other factors, many of which are beyond the control of the PIRET. Other factors and risks that could cause actual results or events to differ materially from current expectations are discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under "Risk Factors" in PIRET's Annual Information Form, and annual Management Discussion and Analysis, available on SEDAR at www.sedar.com.
The forward-looking statements contained in this press release represent PIRET's expectations as of the date hereof, and are subject to change after such date. PIRET disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED NOR APPROVED THE CONTENTS OF THIS PRESS RELEASE AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
SOURCE Pure Industrial Real Estate Trust (PIRET)
For further information: Andrew Greig, Director of Investor Relations, Suite 910, 925 West Georgia Street, Vancouver, BC V6C 3L2, Phone: (604) 398-2836 or (888) 681-5959, E-mail: email@example.com