Connect with us

Hi, what are you looking for?

News

FILRT joins MSCI Philippines Small Cap Index

Filinvest Axis, Northgate Cyberzone Alabang Muntinlupa City

Filinvest REIT Corp. (FILRT), the Gotianun-led real estate investment trust company, will enter the MSCI Philippines Small Cap Index this November.

FILRT joins the exclusive MSCI Philippines Small Cap Index alongside 20 other constituents. The closely-watched index represents approximately 14% of the free float-adjusted market capitalization of the Philippine equity universe according to a recent report by global index provider MSCI.

MSCI rebalances its indices semi-annually and quarterly. The adjustment for its November semi-annual index rebalancing will take place on Nov. 30, 2021.

The news gave rise to stimulated market activity with investors buying up FILRT ahead of the scheduled rebalancing. Last Friday, FILRT closed at P7.68 per share, up by 3.78% from the previous day and its highest closing price since listing. This places FILRT at a substantial gain of 9.7% from its listing price of P7 per share. Value turnover was at P73.6 million. FILRT ended the trading day with a market capitalization of P36.2 billion.

FILRT debuted in the PSE in August and became the country’s third listed REIT company and the first sustainability-themed REIT. Its portfolio of over 300,000 square meters of the gross leasable area consists of 17 Grade A office buildings mainly occupied by global BPOs. Sixteen of the 17 buildings are located in Filinvest City, the country’s first and Asia’s largest central business district to receive the LEED v4 Gold for Neighborhood Development Plan certification, while another building is part of Filinvest Cyberzone Cebu located in the gateway of Cebu IT Park in Lahug, Cebu City.

“FILRT’s achievements amidst a backdrop of a pandemic is testament to the resiliency of the office leasing sector and its significant potential upside when the economy turns around,” said FILRT President and CEO Maricel Brion-Lirio. “We see our inclusion in the MSCI Philippines Small Cap Index as a confirmation of the continuous growth that we envision for FILRT. This is indeed a positive development that could boost the liquidity and attractiveness of FILRT for the investors,” she added.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber to get more updates from BusinessWorld: https://bit.ly/3hv6bLA.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

Follow us on Spotify BusinessWorld B-Side The Filipino workforce is gradually adapting to a work environment that has been changed forever due to the pandemic....

News

The Department of Environment and Natural Resources (DENR) has given recognition to volunteers and partners who had significant contribution to the cleanup and rehabilitation...

News

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories...

News

Former client, Jennifer Pacquing on her experience with Planning for Canada services. Planning for Canada – Planifier pour le Canada (PfC) is pleased to...

News

Windmills are seen in Pililia, Teresa, Rizal province on April 25. — PHILIPPINE STAR/ MICHAEL VARCAS THE INCOMING Marcos administration should consider the full...

News

THE PHILIPPINE central bank should deliver more aggressive rate hikes in order to curb inflation that is now expected to reach 5% this year,...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.