Landsea Homes Corporation (NASDAQ:LSEA) (“Landsea Homes” or the “Company”), a publicly traded residential homebuilder, has announced that it is set to join the broad-market Russell 3000® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, 2021, according to a preliminary list of additions posted June 4, 2021.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, 2021, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“Joining the Russell 3000 Index marks an important milestone in our ongoing journey as a publicly-traded company,” said John Ho, CEO of Landsea Homes. “Since going public at the start of this year, we have continued our momentum reporting strong financial results, increasing our outlook for 2021 and completing a key acquisition to enter the Florida and Texas markets. As we continue to execute on our strategy, we look forward to leveraging the increased awareness that the Russell 3000 Index brings to further engage with the investment community and introduce our high-growth story to a broader audience.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
