Forest City Enterprises Inc. hit a milestone today as the Cleveland-based company announced its inclusion in the Russell 1000 Index — a ranking of the 1,000 largest U.S. stocks by market capitalization. As of May 31, 2002, Forest City’s market cap stood at $1.9 billion.
The Russell 1000,2000 and 3000 indices are compiled annually by the Frank Russell Co. As of the index’s latest reconstitution, the average market capitalization was approximately $13 billion; the median market capitalization was approximately $3.8 billion. The smallest company in the index had an approximate market capitalization of $1.4 billion.