Standard & Poor's has announced that Agree Realty Corp. and Strategic Hotels & Resorts Inc. will replace two other real estate investment trusts in its S&P REIT Composite Index.Agree will replace CentraCore Properties Trust, which is being acquired by The Geo Group, after the close of trading on Jan. 24, S&P said. Strategic Hotels will replace Reckson Associates Realty Corp., which is being acquired by SL Green Realty Corp. (a constituent of the index), after the close of trading on Jan. 25. Agree, based in Farmington Hills, Mich., is a retail REIT, and Strategic Hotels, based in Chicago, is a lodging REIT. S&P can be found online at http://www.standardandpoors.com.
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