Standard & Poor's is adding Gables Residential, a Boca Raton, Fla.-based multifamily real estate investment trust, to its S&P Small Cap 600 Index.Gables will replace Corinthian Colleges on the index, S&P said. The change will be effective after the close of trading March 12. "Our research-driven strategy based on economic diversification and forward demographic fundamentals were likely factors that S&P considered in making their decision to add us to the index," said Chris Wheeler, the REIT's chairman and chief executive officer. However, S&P maintains that the additions and deletions of companies to and from an S&P equity index "do not in any way reflect an opinion on the investment merits of the company."
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