TTM Technologies, Dutch Bros, Advanced Energy Industries, and American Healthcare REIT Set to Join S&P MidCap 400; Others to Join S&P SmallCap 600

Rhea-AI Summary

LegalZoom (NASD: LZ) will join the S&P SmallCap 600 effective prior to market open on Feb 2, 2026, as S&P Dow Jones Indices adjusts both the S&P MidCap 400 and S&P SmallCap 600.

Multiple additions and deletions occur on Jan 30, 2026 and Feb 2, 2026, including TTM Technologies, Dutch Bros, Advanced Energy Industries, American Healthcare REIT, and corresponding deletions tied to pending mergers and a liquidation.

Positive

• LegalZoom (LZ) added to S&P SmallCap 600 effective Feb 2, 2026
• TTM Technologies promoted to S&P MidCap 400 effective Jan 30, 2026
• Three additions to S&P MidCap 400 on Feb 2, 2026 (BROS, AEIS, AHR)

Negative

• Deletions tied to pending bank and energy mergers remove several MidCap names
• Elme Communities removed due to ongoing liquidation activities

Key Figures

Current price: $48.14 52-week range: $27.94–$54.67 Quarterly distribution: $0.25 per share +5 more

8 metrics

Current price $48.14 Pre-news close for AHR

52-week range $27.94–$54.67 AHR 52-week low and high

Quarterly distribution $0.25 per share Q1 2026 distribution declaration

GAAP net income 2025 $69.8 million FY 2025 attributable to controlling interest

NFFO per share 2025 $1.72 Full year 2025 normalized FFO per diluted share

Same-store NOI growth 2025 14.2% Total portfolio FY 2025 same-store NOI

Acquisitions 2025 >$950 million Closed healthcare real estate acquisitions in 2025

Credit facility capacity $1,350,000,000 Aggregate borrowing under amended credit facility as of Apr 1, 2026

Market Reality Check

Price: $49.61 Vol: Volume 1,826,351 vs 20-da...

normal vol

$49.61 Last Close

Volume Volume 1,826,351 vs 20-day average 2,608,216 (about 0.7x typical activity). normal

Technical Price 48.14 is trading above the 200-day MA at 45.29.

Peers on Argus

AHR fell 2.21% while several healthcare REIT peers also traded lower: CTRE -1.6%...

AHR fell 2.21% while several healthcare REIT peers also traded lower: CTRE -1.6%, SBRA -1.27%, NHI -1.3%, HR -0.4%, with MPW slightly positive at +0.4%, suggesting mixed but generally weak sector tone rather than a clear index-driven move.

Historical Context

5 past events · Latest: Apr 07 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 07	Earnings call schedule	Neutral	+1.7%	Announced Q1 2026 earnings release date and conference call details.
Mar 18	Dividend declaration	Positive	-2.8%	Declared $0.25 per share quarterly cash distribution for Q1 2026.
Feb 26	Earnings and guidance	Positive	-1.8%	Reported profitable 2025 results, strong NOI growth, and issued 2026 NFFO guidance.
Feb 25	Conference appearance	Neutral	+0.5%	Announced participation in Citi 2026 Global Property CEO Conference.
Feb 04	Leadership change	Negative	+2.9%	CEO took medical leave; board chair appointed interim CEO and president.

Pattern Detected

Recent positive fundamental and dividend news has often seen negative or muted next-day price reactions, indicating a tendency toward divergence between news tone and short-term performance.

Recent Company History

Over the past few months, American Healthcare REIT reported strong FY 2025 results with NFFO of $1.72 per share and double‑digit same‑store NOI growth, alongside over $950 million of acquisitions and 2026 guidance. It also declared a $0.25 quarterly distribution and announced CEO Danny Prosky’s medical leave with an interim appointment. Conference and earnings-call scheduling updates rounded out communications. Against this backdrop, the S&P MidCap 400 addition marks a notable index recognition event layered onto ongoing operational growth and capital markets activity.

Market Pulse Summary

This announcement highlights American Healthcare REIT’s upcoming inclusion in the S&P MidCap 400, wh...

Analysis

This announcement highlights American Healthcare REIT’s upcoming inclusion in the S&P MidCap 400, which can broaden index-linked ownership and visibility. It comes after strong FY 2025 fundamentals, including NFFO of $1.72 per share and same‑store NOI growth of 14.2%, plus active acquisition and financing activity. Investors may watch future earnings, distribution stability at $0.25 per quarter, and execution on growth plans to assess how index membership integrates with the broader strategy.

Key Terms

s&p midcap 400, s&p smallcap 600, gics sector

3 terms

s&p midcap 400 financial

"TTM Technologies, Dutch Bros, Advanced Energy Industries, and American Healthcare REIT Set to Join S&P MidCap 400"

The S&P MidCap 400 is a group of 400 companies that are smaller than the big, well-known corporations but larger than tiny startups. It helps investors see how medium-sized companies are performing in the stock market, acting like a barometer for this middle-sized group of businesses.

s&p smallcap 600 financial

"S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, S&P SmallCap 600:"

A stock market index made up of 600 small-cap U.S. companies chosen to represent the performance of smaller publicly traded firms. It matters to investors because it acts like a temperature gauge for the small-company segment of the market, serving as a benchmark for fund managers, a basis for index funds and ETFs, and a way to compare returns and risk when building a diversified portfolio.

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

AI-generated analysis. Not financial advice.

NEW YORK, Jan. 27, 2026 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, S&P SmallCap 600:

• S&P SmallCap 600 constituent TTM Technologies Inc. (NASD: TTMI) will replace Civitas Resources Inc. (NYSE: CIVI) in the S&P MidCap 400, and Amneal Pharmaceuticals Inc. (NASD: AMRX) will replace TTM Technologies in the S&P SmallCap 600 effective prior to the opening of trading on Friday, January 30. S&P SmallCap 600 constituent SM Energy Co. (NYSE: SM) is acquiring Civitas Resources in a deal expected to be completed soon, pending final closing conditions. SM Energy will remain in the S&P SmallCap 600 post-merger.
• Dutch Bros Inc. (NYSE: BROS) will replace PotlatchDeltic Corp. (NASD: PCH) in the S&P MidCap 400 effective prior to the opening of trading on Monday, February 2. S&P MidCap 400 constituent Rayonier Inc. (NYSE: RYN) is acquiring PotlatchDeltic in a deal expected to be completed soon, pending final closing conditions. Rayonier will remain in the S&P MidCap 400 post-merger.
• S&P SmallCap 600 constituent Advanced Energy Industries Inc. (NASD: AEIS) will replace Comerica Inc. (NYSE: CMA) in the S&P MidCap 400, and Apellis Pharmaceuticals Inc. (NASD: APLS) will replace Advanced Energy Industries in the S&P SmallCap 600 effective prior to the opening of trading on Monday, February 2. S&P 500 constituent Fifth Third Bancorp (NASD: FITB) is acquiring Comerica in a deal expected to be completed soon, pending final closing conditions.
• American Healthcare REIT Inc. (NYSE: AHR) will replace Cadence Bank (NYSE: CADE) in the S&P MidCap 400 effective prior to the opening of trading on Monday, February 2. S&P 500 constituent Huntington Bancshares Inc. (NASD: HBAN) is acquiring Cadence Bank in a deal expected to be completed soon, pending final closing conditions.
• LegalZoom.com Inc. (NASD: LZ) will replace Elme Communities (NYSE: ELME) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, February 2. Elme Communities has announced ongoing liquidation activities and is no longer appropriate for the S&P SmallCap 600.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS Sector
Jan 30, 2026	S&P MidCap 400	Addition	TTM Technologies	TTMI	Information Technology
Jan 30, 2026	S&P MidCap 400	Deletion	Civitas Resources	CIVI	Energy
Jan 30, 2026	S&P SmallCap 600	Addition	Amneal Pharmaceuticals	AMRX	Health Care
Jan 30, 2026	S&P SmallCap 600	Deletion	TTM Technologies	TTMI	Information Technology
Feb 2, 2026	S&P MidCap 400	Addition	Dutch Bros	BROS	Consumer Discretionary
Feb 2, 2026	S&P MidCap 400	Addition	Advanced Energy Industries	AEIS	Information Technology
Feb 2, 2026	S&P MidCap 400	Addition	American Healthcare REIT	AHR	Real Estate
Feb 2, 2026	S&P MidCap 400	Deletion	Comerica	CMA	Financials
Feb 2, 2026	S&P MidCap 400	Deletion	Cadence Bank	CADE	Financials
Feb 2, 2026	S&P MidCap 400	Deletion	PotlatchDeltic	PCH	Real Estate
Feb 2, 2026	S&P SmallCap 600	Addition	Apellis Pharmaceuticals	APLS	Health Care
Feb 2, 2026	S&P SmallCap 600	Addition	LegalZoom.com	LZ	Industrials
Feb 2, 2026	S&P SmallCap 600	Deletion	Advanced Energy Industries	AEIS	Information Technology
Feb 2, 2026	S&P SmallCap 600	Deletion	Elme Communities	ELME	Real Estate

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View original content:https://www.prnewswire.com/news-releases/ttm-technologies-dutch-bros-advanced-energy-industries-and-american-healthcare-reit-set-to-join-sp-midcap-400-others-to-join-sp-smallcap-600-302671845.html

SOURCE S&P Dow Jones Indices

FAQ

When will LegalZoom (LZ) be added to the S&P SmallCap 600?

LegalZoom (LZ) will be added prior to market open on Feb 2, 2026. According to S&P Dow Jones Indices, the change replaces Elme Communities and follows index rebalancing rules tied to company status and liquidity.

What does LegalZoom's (LZ) S&P SmallCap 600 inclusion mean for investors?

Inclusion may increase passive fund demand and trading volume for LegalZoom (LZ). According to S&P Dow Jones Indices, index-linked funds typically rebalance to track constituents on the effective date, which can affect short-term liquidity.

Which companies were added to the S&P MidCap 400 on Feb 2, 2026?

Dutch Bros (BROS), Advanced Energy Industries (AEIS), and American Healthcare REIT (AHR) were added on Feb 2, 2026. According to S&P Dow Jones Indices, these additions correspond with deletions tied to pending acquisitions and corporate changes.

Why was Elme Communities removed from the S&P SmallCap 600?

Elme Communities was removed because it has announced ongoing liquidation activities and is no longer appropriate for the index. According to S&P Dow Jones Indices, such corporate status makes a company ineligible for continued inclusion.

How does the Jan 30, 2026 change affect TTM Technologies (TTMI)?

TTM Technologies (TTMI) will move from the S&P SmallCap 600 to the S&P MidCap 400 on Jan 30, 2026. According to S&P Dow Jones Indices, this reflects the company meeting midcap inclusion criteria and triggers index fund rebalancing.

Are the deletions on Feb 2, 2026 related to mergers or acquisitions?

Yes, several deletions correspond to pending mergers, including Comerica, Cadence Bank, and PotlatchDeltic. According to S&P Dow Jones Indices, acquiring companies are expected to remain in the indices post-merger when applicable.