UiPath Set to Join S&P MidCap 400 and Versant Media Group to Join S&P SmallCap 600

Rhea-AI Summary

Index changes announced (effective Jan 2026): UiPath (PATH) will be added to the S&P MidCap 400 on January 2, 2026, replacing Synovus Financial (SNV). Versant Media Group (VSNT) will be added to the S&P SmallCap 600 on January 6, 2026, replacing Brandywine Realty Trust (BDN). Comcast is spinning off Versant on January 5 and will remain in the S&P 500.

AI-generated analysis. Not financial advice.

Positive

• UiPath (PATH) added to S&P MidCap 400 effective January 2, 2026
• Versant Media Group (VSNT) added to S&P SmallCap 600 effective January 6, 2026

Negative

• Brandywine Realty Trust (BDN) removed from S&P SmallCap 600 effective January 6, 2026
• Synovus Financial (SNV) removed from S&P MidCap 400 effective January 2, 2026 due to acquisition

Key Figures

Index deletion date: January 6, 2026 Index addition date: January 2, 2026 Index addition date: January 6, 2026 +3 more

6 metrics

Index deletion date January 6, 2026 Effective date BDN is deleted from S&P SmallCap 600

Index addition date January 2, 2026 UiPath added to S&P MidCap 400

Index addition date January 6, 2026 Versant Media Group added to S&P SmallCap 600

Index deletion S&P SmallCap 600 Brandywine Realty Trust removed from this index

Index name S&P MidCap 400 Destination index for UiPath after rebalance

Index name S&P SmallCap 600 Destination index for Versant Media Group after spin-off

Market Reality Check

Price: $3.25 Vol: Volume 2,172,760 is below...

normal vol

$3.25 Last Close

Volume Volume 2,172,760 is below the 20-day average of 2,942,446 ahead of the index removal. normal

Technical Shares at 2.68 are well below the 200-day MA of 3.52 and closer to the 52-week low of 2.47 than the high of 4.63.

Peers on Argus

BDN gained 0.75% while office REIT peers showed mixed moves (e.g., PDM +2.56%, J...

BDN gained 0.75% while office REIT peers showed mixed moves (e.g., PDM +2.56%, JBGS +2.68%, PSTL -1.3%). With no peers in the momentum scanner, today’s setup looks more stock‑specific than a broad sector rotation.

Historical Context

5 past events · Latest: Feb 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Conference participation	Neutral	-1.9%	Citi 2026 Global Property CEO Conference roundtable presentation announcement.
Feb 18	Dividend & earnings dates	Positive	+2.3%	Quarterly dividend of $0.08 and Q1 2026 earnings release schedule.
Feb 03	Earnings & guidance	Positive	+11.7%	Q4 and 2025 FFO results plus 2026 FFO guidance of $0.51–$0.59.
Jan 27	C-PACE financing	Positive	-1.7%	Largest-ever Pennsylvania C-PACE deal of $87.3M for 3151 Market Street upgrades.
Jan 22	Tax distribution details	Neutral	+0.0%	Disclosure of 2025 distribution tax breakdown totaling $0.53 per share.

Pattern Detected

BDN has often reacted positively to fundamental updates like earnings and dividends, while financing and routine news have produced muted or mixed moves.

Recent Company History

Recent news shows Brandywine combining balance sheet work with portfolio and capital-market activity. Q4 and full-year 2025 results highlighted FFO of $93.4M and 2026 FFO guidance of $0.51–$0.59, which coincided with a +11.7% move. A February 2026 dividend declaration of $0.08 per share and confirmation of earnings dates saw a modest gain. By contrast, a record $87.3M C‑PACE financing and tax distribution details produced flat-to-negative reactions, suggesting investors focus most on earnings power and guidance. Today’s removal from the S&P SmallCap 600 adds an index-related element to that backdrop.

Regulatory & Risk Context

Active S-3 Shelf · $300,000,000 equity; $1,200,000,000 debt

Shelf Active

Active S-3 Shelf Registration 2026-03-10

$300,000,000 equity; $1,200,000,000 debt registered capacity

An effective S-3 shelf dated March 10, 2026 allows Brandywine to offer up to $300,000,000 of equity-type securities and its Operating Partnership to issue up to $1,200,000,000 of debt securities from time to time. No usage is recorded yet, but the structure provides flexibility for future capital raises or refinancings.

Market Pulse Summary

This announcement details that Brandywine Realty Trust will be removed from the S&P SmallCap 600 eff...

Analysis

This announcement details that Brandywine Realty Trust will be removed from the S&P SmallCap 600 effective January 6, 2026 as Versant Media Group enters the index. Index changes are typically mechanical but can affect ownership by passive funds. In recent months, BDN’s news flow has centered on FFO guidance of $0.51–$0.59, a quarterly dividend of $0.08, and a new shelf enabling up to $300,000,000 of equity and $1,200,000,000 of debt issuance, all of which frame the broader context for this index-related shift.

Key Terms

s&p midcap 400, s&p smallcap 600, spin-off, gics sector

4 terms

s&p midcap 400 financial

"UiPath Inc. (NYSE: PATH) will replace Synovus Financial Corp. ... in the 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

"Versant Media Group Inc. (NASD: VSNT) will replace Brandywine Realty Trust ... in the 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.

spin-off financial

"Comcast Corp. (NASD: CMCSA) is spinning off Versant Media Group in a transaction"

A spin-off happens when a company creates a new, independent business by separating part of itself, like splitting off a division into its own company. This often happens so the new company can focus better on its own goals or attract different investors. It matters because it can lead to more growth opportunities and clearer focus for both companies.

gics sector financial

"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.

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NEW YORK, Dec. 23, 2025 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, S&P SmallCap 600: 

• UiPath Inc. (NYSE: PATH) will replace Synovus Financial Corp. (NYSE: SNV) in the S&P MidCap 400 effective prior to the opening of trading on Friday, January 2. S&P MidCap 400 constituent Pinnacle Financial Partners Inc. (NASD: PNFP) is acquiring Synovus Financial Corp in a deal expected to be completed soon, pending final closing conditions.
• Versant Media Group Inc. (NASD: VSNT) will replace Brandywine Realty Trust (NYSE: BDN) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, January 6. S&P 500 constituent Comcast Corp. (NASD: CMCSA) is spinning off Versant Media Group in a transaction expected to be completed January 5. Comcast will remain in the S&P 500 following completion of the spin-off.

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
January 2, 2026	S&P MidCap 400		Addition	UiPath	PATH	Information Technology
January 2, 2026	S&P MidCap 400		Deletion	Synovus Financial	SNV	Financials
January 6, 2026	S&P SmallCap 600		Addition	Versant Media Group	VSNT	Communication Services
January 6, 2026	S&P SmallCap 600		Deletion	Brandywine Realty Trust	BDN	Real Estate

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

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View original content:https://www.prnewswire.com/news-releases/uipath-set-to-join-sp-midcap-400-and-versant-media-group-to-join-sp-smallcap-600-302649007.html

SOURCE S&P Dow Jones Indices

FAQ

When will UiPath (PATH) join the S&P MidCap 400 and what is the effective date?

UiPath (PATH) will join the S&P MidCap 400 effective prior to the open on January 2, 2026. According to S&P Dow Jones Indices, PATH replaces Synovus Financial (SNV) in the MidCap 400 ahead of trading that day.

Why is Brandywine Realty Trust (BDN) being removed from the S&P SmallCap 600 on January 6, 2026?

Brandywine Realty Trust (BDN) is being removed from the S&P SmallCap 600 effective January 6, 2026. According to S&P Dow Jones Indices, BDN will be replaced by Versant Media Group (VSNT) on that effective date.

What is the timeline and rationale for Versant Media Group (VSNT) joining the S&P SmallCap 600?

Versant Media Group (VSNT) joins the S&P SmallCap 600 effective prior to the open on January 6, 2026. According to S&P Dow Jones Indices, the addition follows Comcast's planned spin-off of Versant on January 5.

Does Comcast remain in the S&P 500 after the Versant Media Group spin-off on January 5, 2026?

Yes, Comcast will remain in the S&P 500 after the Versant spin-off expected on January 5, 2026. According to S&P Dow Jones Indices, Comcast's S&P 500 membership is unchanged by the transaction.

How does the Synovus Financial (SNV) removal from the S&P MidCap 400 relate to Pinnacle Financial Partners?

Synovus Financial (SNV) is being removed from the S&P MidCap 400 effective January 2, 2026, due to an acquisition by Pinnacle Financial Partners. According to S&P Dow Jones Indices, the deal is expected to be completed pending final closing conditions.