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

Effective date: Jan 30, 2026 Effective date: Feb 2, 2026

2 metrics

Effective date Jan 30, 2026 Index changes involving PCH and TTMI

Effective date Feb 2, 2026 Further S&P MidCap 400 and SmallCap 600 changes

Market Reality Check

Price: $41.73 Vol: Volume 11,026,433 is well...

high vol

$41.73 Last Close

Volume Volume 11,026,433 is well above the 20-day average 1,276,137 (relative volume 8.64). high

Technical Price 41.73 is trading above the 200-day MA at 40.62 ahead of index removal linked to the Rayonier merger.

Peers on Argus

PCH was nearly flat (+0.05%) while key REIT peers like OUT, RYN, EPR, UNIT, and ...

PCH was nearly flat (+0.05%) while key REIT peers like OUT, RYN, EPR, UNIT, and WY showed modest gains (up between 0.69% and 2.89%), indicating a stock-specific response tied to merger and index changes rather than a broad sector move.

Historical Context

4 past events · Latest: Jan 27 (Positive)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Jan 27	Merger approval	Positive	-2.7%	Stockholder approvals for closing the Rayonier–PotlatchDeltic merger and final terms.
Jan 16	Dividend tax details	Positive	+2.0%	Announcement of 2025 dividend tax treatment totaling $1.80 per share.
Dec 05	Dividend declaration	Positive	+1.3%	Board declaration of a $0.45 quarterly distribution on common stock.
Oct 14	Merger announcement	Positive	-1.6%	All-stock merger of equals with Rayonier to form larger land resources REIT.

Pattern Detected

PCH has shown mixed price reactions to generally positive corporate events like merger milestones and dividend announcements, with both aligned and divergent moves.

Recent Company History

Over the past several months, PotlatchDeltic’s trajectory has been dominated by its merger with Rayonier. The initial all-stock merger announcement and later stockholder approvals, including terms such as 1.8185 Rayonier shares plus $0.61 in cash per PCH share, produced modestly negative moves. In contrast, dividend-related news, including a $0.45 quarterly distribution and $1.80 per-share 2025 dividend tax treatment, saw modest gains. Today’s S&P index deletion ties into this same merger timeline rather than a new standalone catalyst.

Market Pulse Summary

This announcement details S&P index changes that remove PotlatchDeltic from the S&P MidCap 400 as it...

Analysis

This announcement details S&P index changes that remove PotlatchDeltic from the S&P MidCap 400 as its merger with Rayonier progresses. Before the news, PCH traded near 41.73, slightly above its 200-day MA of 40.62, with volume of 11,026,433 shares versus a 1,276,137 20-day average, indicating elevated activity around deal and index events. Investors may focus on how the Rayonier combination evolves, including any updates to integration, capital return policies, and subsequent index positioning of the combined company.

Key Terms

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

3 terms

s&p midcap 400 technical

"TTM Technologies Inc. (NASD: TTMI) will replace Civitas Resources Inc. ... 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 technical

"Amneal Pharmaceuticals Inc. (NASD: AMRX) will replace TTM Technologies 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.

gics sector technical

"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

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:

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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.