By Josh Beckerman

Federal Realty Investment Trust (FRT) will join the S&P 500 index after the close of trading Jan. 29.

S&P Dow Jones Indices said the real-estate investment trust will replace Broadcom Corp. (BRCM), which is slated to be sold to Avago Technologies Ltd.

Shares of Rockville, Md.-based Federal Realty rose 1.6% to $152.74 in after-hours trading Friday.

Inclusion in the S&P 500 is typically a boon for a stock as index-tracking funds buy shares.

On Nov. 4, Federal Realty reported higher third-quarter funds from operations and increased its full-year guidance.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 22, 2016 18:41 ET (23:41 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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