S&P Dow Jones Indices announced on March 3 that multifamily REIT UDR Inc. (NYSE: UDR) has been added to the S&P 500 index. Additionally, Healthcare Realty Trust Inc. (NYSE: HR) replaced UDR in the S&P MidCap 400, according to S&P Dow Jones.

In conjunction with the announcement, UDR said it is planning a secondary equity offering of approximately 5 million shares of common stock. The proceeds would go towards “working capital and general corporate purposes,” according to UDR.

(Contact: Allen Kenney at akenney@nareit.com)

Get Nareit Developments blog posts delivered straight to your inbox.