Real Estate

Real Estate is sector 60 of the Global Industry Classification Standard (GICS), the industry taxonomy developed in 1999 by MSCI and Standard & Poor's for classifying public companies by their principal business activity. Real Estate became its own top-level GICS sector in 2016, split out of the Financials sector it had previously been part of. Under GICS, sector 60 is organized as a single industry group, also named Real Estate, divided into two industries: Equity Real Estate Investment Trusts (REITs), covering companies organized as real estate investment trusts that primarily own and operate income-producing real estate across specialized categories such as retail, residential, industrial and data center properties; and Real Estate Management & Development, covering real estate ownership, development, management and brokerage companies not organized as REITs. A company, product, or service is classified into this sector when its principal business activity falls within one of these two industries.