CoStar Group included in S&P 500 Index

Published by

Sam Pither

CoStar Group, a provider of information, analytics and marketing services to the commercial property industry, has been selected for inclusion in the S&P 500 Index.

The S&P 500 Index is widely recognised as one of the premier benchmarks of the U.S. equities market, comprising 500 leading companies across important industries of the United States.

The S&P Index Committee selects companies through criteria including market capitalisation, liquidity and consistent, positive earnings.

Andrew Florance, Founder and Chief Executive Officer of CoStar Group, said: “It is a great honor to be selected for inclusion in the S&P 500 index.

“For 36 years CoStar Group has been committed to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

“Today, we have more than 25 brands under the CoStar Group umbrella serving hundreds of thousands of customers around the globe.”

Since being established out of Mr Florance’s dorm room in 1986, CoStar has grown to employ more than 5,200 people across 14 countries around the globe.

The Company became publicly traded via an initial public offering in 1998, raising $23 million. Most recently, CoStar Group revenue for the twelve months ending June 30, 2022 was more than $2 billion, with market capitalisation of $31.05 billion as of Friday, September 9, 2022.

In conjunction with its inclusion in the S&P 500 Index, CoStar Group has announced a public offering of $750 million of its common stock, representing 9.79 million shares (based on the closing price on September 13, 2022 of $76.64).

CoStar plans to market the offering primarily to S&P 500 index funds expected to have an interest in purchasing shares ahead of the date of CoStar’s inclusion in the S&P 500 index.

CoStar Group is also sponsoring the Industrial/Logistics Consultancy of the Year at The Business Magazine’s South Coast Property Awards. Hosted by comedian Marcus Brigstocke, the awards return on 29 September 2022.

Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset. A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise. Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.