Reis, Inc. to be Added to the Russell 3000 and Russell Global Indices
NEW YORK, June 20, 2013 (GLOBE NEWSWIRE) -- Reis, Inc. (Nasdaq:REIS) ("Reis"
or the "Company"), a leading provider of commercial real estate market
information and analytical tools, announced today that it is set to join the
broad-market Russell 3000® Index, the small-cap Russell 2000® Index and the
Russell Global Index when Russell Investments reconstitutes its comprehensive
set of U.S. and global equity indexes at the close of markets on June 28^th.
Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest
U.S. stocks as of the end of May, ranking them by total market capitalization.
Qualifying membership in these Russell indexes is reviewed annually. Russell
determines membership for its equity indexes primarily by objective,
market-capitalization rankings and style attributes.
"We are very pleased to be included in the Russell indexes," said Lloyd
Lynford, Reis's President and Chief Executive Officer. "We believe that our
inclusion will encourage many investors to take a look at the Reis story for
the first time, or to reexamine Reis's business in light of the strong growth
we have enjoyed in recent years. Historically, being included in the Russell
indexes has often enhanced liquidity of a company's equity and we are
optimistic that as a larger number of institutional and retail investors
acquaint themselves with Reis's growth prospects, they will be positively
inclined to invest in our company."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. Approximately $4.1 trillion in assets are benchmarked
to the Russell Indexes. Russell calculates more than 700,000 benchmarks daily
covering approximately 98 percent of the investable market globally, more than
80 countries and 10,000 securities. Total returns data for the Russell 3000
and other Russell Indexes is available at
Reis's primary business is providing commercial real estate market information
and analytical tools for its subscribers, through its Reis Services
subsidiary. Reis Services, including its predecessors, was founded in 1980.
Reis maintains a proprietary database containing detailed information on
commercial properties in metropolitan markets and neighborhoods throughout the
U.S. The database contains information on apartment, office, retail,
warehouse/distribution, flex/research and development and self storage
properties and is used by real estate investors, lenders and other
professionals to make informed buying, selling and financing decisions. In
addition, Reis data is used by debt and equity investors to assess, quantify
and manage the risks of default and loss associated with individual mortgages,
properties, portfolios and real estate backed securities. Reis currently
provides its information services to many of the nation's leading lending
institutions, equity investors, brokers and appraisers.
Reis, through its flagship institutional product, Reis SE, and through its
small business product, ReisReports, provides online access to a proprietary
database of commercial real estate information and analytical tools designed
to facilitate debt and equity transactions as well as ongoing asset and
portfolio evaluations. Depending on the product, users have access to market
trends and forecasts at metropolitan and neighborhood levels throughout the
U.S. and/or detailed building-specific information such as rents, vacancy
rates, lease terms, property sales, new construction listings and property
valuation estimates. Reis's products are designed to meet the demand for
timely and accurate information to support the decision-making of property
owners, developers, builders, banks and non-bank lenders, equity investors and
service providers. These real estate professionals require access to timely
information on both the performance and pricing of assets, including detailed
data on market transactions, supply, absorption, rents and sale prices. This
information is critical to all aspects of valuing assets and financing their
acquisition, development and construction.
For more information regarding Reis's products and services, visit
www.reis.com and www.ReisReports.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain certain "forward-looking statements" within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements may relate to Reis's or management's outlook or
expectations for Reis's business, operations or performance, as well as the
performance of Reis's common stock. Forward-looking statements reflect
management's judgment based on currently available information and involve a
number of risks and uncertainties that could cause actual results to differ
from those in the forward-looking statements. Please refer to Reis's annual,
quarterly and periodic reports on file with the SEC for a more detailed
discussion of various risks that could cause results to differ materially.
CONTACT: Press/Investor Relations Contact:
Mark P. Cantaluppi
Vice President, Chief Financial Officer
Reis, Inc. Logo
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