NASDAQ OMX today unveiled a new partnership with ETRE Financial for 12 co-branded real estate investment trust (REIT) indexes.

“The NASDAQ ETRE Indexes include five Real Estate Investment Trust (REIT) sector specific Indexes (Residential, Office, Hospitality Healthcare and Retail) and a Composite Index covering the entire equity REIT category. The current family of Indexes is based on US-listed REITs,” according to NASDAQ OMX.

To be included in the indexes, REITs must trade on the NASDAQ or New York Stock Exchange and have minimum market values of $250 million. The indexes are evaluated annually in March.

While most REIT indexes are cap-weighted, the NASDAQ ETRE REIT suite is alternatively-weighted.

“The indexes use ETRE Financial’s unique proprietary Enterprise Value methodology to weight components based on the total value of the underlying properties of the real estate investment trust (REIT), rather than simply the traditional market cap equity value of the component,” according to a statement released by NASDAQ OMX and ETRE.

New York-based ETRE is a pioneer in what it calls exchange traded properties, or single asset REITs listed on national equity exchanges.

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