The Miami Herbert Business School’s Florida 50 Stock Index (UMIAMIFL) increases 7.02%, bests the S&P 500

The Miami Herbert Business School’s Florida 50 Stock Index (UMIAMIFL) increases 7.02%, bests the S&P 500

By Marlen Lebish & Seth Levine

The Miami Herbert Business School’s Florida 50 Stock Index (UMIAMIFL) increases 7.02%, bests the S&P 500

By Marlen Lebish & Seth Levine
Miami Herbert Business School’s Florida 50 Index, calculated by Standard and Poors (S&P) Custom Indices, closed out the first quarter of 2021 at 223.03.

This represents a gain of 7.02%, besting the S&P 500 and S&P 1500, 1.25% and .51%, respectively. Half of its companies saw their stock prices rise by over 20%.

The Florida index, which tracks all Florida-based firms in the S&P Composite 1500® Index, was established by the Department of Accounting with a baseline value of 100 on January 1, 2016. Since its launch, the Florida 50 Index has more than doubled with a total increase of 123.03%.

The firms in the Florida index which boasted quarterly stock increases of over 20% were:

Chico's FAS – CHS (+108.18%)

HCI Group – HCI (+46.88%)

Affiliated Managers Group – AMG (+46.54%)

ODP Corp – ODP (+44.33%)

MarineMax – HZO (+40.91%)

Cross Country Healthcare – CCRN (+40.81%)

Ruth's Hospitality Group – RUTH (+40.05%)

Bloomin' Brands – BLMN (+39.29%)

Rayonier Advanced Materials – RYAM (+39.11%)

MasTec – MTZ (+37.43%)

Travel + Leisure – TNL (+36.34%)

AutoNation – AN (+33.57%)

Lennar – LEN (+32.80%)

Xenia Hotels & Resorts – XHR (+28.29%)

Raymond James Financial – RJF (+28.11%)

Marriott Vacations Worldwide – VAC (+26.93%)

Bank United – BKU (+26.37%)

United Insurance Holdings – UIHC (+26.05%)

Regency Centers – REG (+24.39%)

PGT Innovations – PGTI (+24.14%)

Seacoast Bank of Florida – SBCF (+23.06%)

Dycom Industries – DY (+22.95%)

Jabil Inc – JBL (+22.64%)

Landstar System – LSTR (+22.58%)

Faro Technologies – FARO (+22.57%)

Carnival Corp – CCL (+22.53%)

Ryder System – R (+22.49%)

Chatham Lodging Trust – CLDT (+21.85%)

 

“The quarterly performance of Miami Herbert’s Florida 50 Index shows that even in a market that has rebounded nicely from the tumultuous first half of 2020, Florida-based firms as a cross-section are more than keeping pace with their counterparts across the country,” said Seth Levine, CPA, an accounting program director at the School and creator of the index.

While some of Florida’s publicly traded companies still haven’t fully recovered from their 2020 losses, several companies have seen their capitalizations soar during the COVID-19 pandemic.

“The 12 largest companies in the Florida 50 Index have a combined market capitalization of over $300 billion. Florida’s Gross Domestic Product, which surpassed $1 trillion in 2018, rivals that of countries like Spain and Mexico, and thus investors would do well to keep an eye on this index in the future as they weigh their own investment decisions.”

The University of Miami’s Florida 50 Index, which was established by Miami Herbert Business School in 2016, is based on the capitalizations of all Florida-based large-, mid- and small-cap companies included in the S&P 1500 index having common stock listed on the NYSE or NASDAQ. It is the very first custom S&P Dow Jones index to be owned by a university and the only index that focuses solely on public companies headquartered in an individual U.S. state.