BIZ BUZZ: RCR takes seat at high table

RL Commercial REIT Inc. (RCR) finally took its seat at the big table on Feb. 2, officially joining the 30-member Philippine Stock Exchange index (PSEi) after weeks of market chatter.

The Gokongwei-led REIT replaced Alliance Global Group Inc. in the benchmark following the bourse’s latest index review, a reshuffle that quietly reshaped the pecking order of blue chips.

Index changes took effect on Feb. 2, triggering the usual round of portfolio adjustments among funds that mirror PSE benchmarks.

At the start of February trading, RCR’s traded at around P7.40 to P7.46 per share, with a market capitalization of about P141 billion, reflecting the stock’s position among the country’s larger listed names. Its free float, at roughly 39.3 percent, easily cleared the public ownership threshold required under the bourse’s eligibility rules.

Since its inclusion in the PSEi, the Gokongwei stock has continued trading within the P7 to P8 range that it has occupied over the past year, with a 52-week span from P5.89 up to P8.30.

That range underscores steady performance, even if the immediate trajectory in late January showed some pulled-back pricing ahead of the reshuffle taking effect.

Comparing performance before and after its PSEi entry, the stock held above the majority of its one-month and three-month average prices even as short-term swings happen—a sign that inclusion didn’t immediately spark a dramatic re-rating, but rather continued a measured upward trend tied to fundamentals and steady investor interest.

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Against this backdrop, RCR wasn’t the only name stirring interest. The PSE’s review also brought fresh faces into the dividend yield index, including OceanaGold (Philippines) Inc. and Universal Robina Corp., while sector gauges saw selective tweaks—small moves on paper, but closely watched by those tracking flows beneath the surface.

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