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Deep Dive: REITs, boasting big outperformance, have earned their own sector

Real estate investment trusts (REITs) have been lumped in with the financial sector, which hasn’t necessarily been a good thing, considering banks’ lower profits and tighter regulation since the financial meltdown in 2008.

But that’s changing Thursday, when S&P Dow Jones Indices adds an 11th sector for the group, the first adjustment since 1999.

The change has been in the works for some time, with S&P Dow Jones Indices making the initial announcement in November 2014 that its global industry classification standard (GICS) would include the new real estate sector. In March, David Blitzer, the managing director and chairman of the Index Committee at S&P Dow Jones Indices, said the change was being made to recognize “the growing importance of real estate in the world’s equity markets.

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