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Fly News Breaks for March 30, 2015
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Mar 30, 2015 | 09:51 EDT
Wells Fargo believes Realty Income's addition to the S&P 500 index should be a positive for the stock. Wells estimates S&P indexers will buy 9.7M Realty Income shares to reflect the company's removal from the S&P Midcap index and addition to the 500 index. Historically, companies moving from the S&P Midcap to the S&P 500 have opened up 1%-2% from the previous trading day's close, it points out. Wells has a Market Perform rating on the name.
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