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Public Storage Joins S&P 500 Index

Posted in News

Public Storage Inc. will replace Delta Air Lines Inc. on the Standard & Poor's 500 Index after the close of trading on Aug. 18, becoming the ninth real estate investment trust to join the index. While Delta has lost more than 80 percent of its stock-market value this year, shares of Glendale, Calif.-based Public Storage have surged, and the company has climbed 13 percent in 2005. Delta, which has lost money for four straight years, said it will sell its Atlantic Southeast Airlines commuter unit to SkyWest Inc. for $425 million in cash.

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