Braemar Hotels & Resorts Inc., a real estate investment trust (REIT) focused on investing in luxury hotels and resorts, has been added to the U.S. small-cap Russell 2000 Index, the U.S. broad-market Russell 3000 Index and the Russell Microcap Index, as part of the Russell indexes annual reconstitution.
“We are pleased to be added to the Russell 2000, Russell 3000 and Russell Microcap indexes, which reflects our continued positive momentum and efforts to maximize value for our shareholders,” said Richard J. Stockton, Braemar’s president/CEO. “We expect our addition to the indexes will help increase our visibility within the investment community as we execute on our strategic initiatives long term.”
Membership in the U.S. all-cap Russell 3000 Index, which remains in place for one year, measures the performance of the largest 3,000 publicly-traded companies in the U.S. The Russell 2000 Index is the most common benchmark for small capitalization companies, and the Russell Microcap Index measures the performance of the microcap segment of the U.S. equity market. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes, which are part of FTSE Russell, a leading global index provider.