TravelCenters of America Secures Spot in Russell 2000 Index
WESTLAKE, Ohio — TravelCenters of America Inc. has been added to the Russell 2000 Index as of June 28 as part of Russell Investments' annual reconstitution of its comprehensive set of U.S. and global equity indexes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
"We are pleased to be included in the Russell 2000 Index, one of the most widely used performance benchmarks for small-cap companies," said Jon Pertchik, CEO of TA. "This is an important milestone for TA, and we look forward to the broadened visibility in the investment community and improved liquidity that we expect from our inclusion in Russell's world-class market index."
Arko Corp., parent company to GPM Investments LLC, is also set to join the broad-market Russell 2000 Index at the conclusion of the 2021, as Convenience Store News previously reported.
"It is a great achievement for us to be joining the Russell 2000 Index," said Arie Kotler, chairman, president and CEO of Arko. "We are committed to aggressive growth through the acquisition of strong regional community brands and this recognition is a testament to our success. We look forward to continuing on this path and delivering long-term value for all of our stakeholders."
Westlake-based TA is the nation's largest publicly traded full-service travel center network. It operates more than 270 locations in 44 states and Canada, principally under the TA, Petro Stopping Centers and TA Express brands. It also operates more than 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet and Country Pride.