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: $21.46 52-week range: $19.49 - $26.06 200-day MA: $22.79 +5 more

8 metrics

Current price $21.46 RYN pre-news reference price

52-week range $19.49 - $26.06 52-week low and high for RYN

200-day MA $22.79 RYN 200-day moving average level

Effective date Jan 30, 2026 Index changes including TTM Technologies and Civitas Resources

Effective date Feb 2, 2026 Index changes including Rayonier and PotlatchDeltic impacts

Timberland acreage 2.0 million acres U.S. timberlands owned, leased or managed as of Sep 30, 2025

Shares outstanding 153,914,189 shares Common shares outstanding as of Oct 31, 2025

NYSE close $21.51 RYN NYSE closing price on Dec 9, 2025

Market Reality Check

Price: $20.95 Vol: Volume 1,863,618 is below...

normal vol

$20.95 Last Close

Volume Volume 1,863,618 is below the 20-day average of 2,648,468, suggesting no unusual trading ahead of this index change announcement. normal

Technical Shares at $21.46 are trading below the $22.79 200-day moving average, reflecting a weaker medium-term trend into the news.

Peers on Argus

Key real estate peers like EPR, PCH, OUT, GLPI, and UNIT all show positive moves...

Key real estate peers like EPR, PCH, OUT, GLPI, and UNIT all show positive moves today, while RYN’s change of +1.23% comes without sector-wide momentum flags, indicating a more stock-specific setup into this index reshuffle.

Historical Context

5 past events · Latest: Mar 31 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 31	Branding decision	Positive	+1.2%	Company kept Rayonier name and ticker and introduced a refreshed logo.
Mar 11	Leadership change	Negative	-2.8%	Executive VP of Wood Products resigned, with interim leadership appointed.
Feb 23	Dividend update	Neutral	-3.1%	Quarterly cash dividend set at $0.26 per share, adjusted for extra shares.
Feb 17	Investor conferences	Neutral	-0.6%	CEO scheduled presentations at two major investor conferences in early March.
Feb 11	Earnings report	Positive	+0.6%	Reported Q4 2025 profits, strong Adjusted EBITDA and lower leverage post-merger.

Pattern Detected

Recent RYN news events have mostly seen price moves that align directionally with the perceived tone of each announcement.

Recent Company History

Over recent months, Rayonier has focused on its merger with PotlatchDeltic, capital returns, and routine corporate updates. Earnings for Q4 2025 highlighted pro forma net income of $32.1M and Adjusted EBITDA of $248.0M, alongside a merger of equals completed on January 30, 2026. A modest dividend adjustment to $0.26 per share reflected incremental shares from a special dividend. Management changes in Wood Products and branding updates followed. This index-change news ties back to the completed PotlatchDeltic transaction, which already featured in prior communications.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-12-10

An effective automatic shelf registration on Form S-3ASR filed on December 10, 2025 allows Rayonier and related entities to issue various securities from time to time for general corporate purposes, including debt repayment, capital spending, acquisitions, share repurchases and working capital.

Market Pulse Summary

This announcement details index changes tied to mergers and acquisitions, with Rayonier’s earlier me...

Analysis

This announcement details index changes tied to mergers and acquisitions, with Rayonier’s earlier merger with PotlatchDeltic feeding into the rebalancing. The company enters this news with shares below the $22.79 200-day moving average and past events—like the $0.26 dividend reset and Q4 2025 earnings—showing generally aligned price responses. An effective S-3ASR shelf adds capital-raising flexibility. Future updates on integration progress, capital deployment and dividend policy remain key metrics to follow.

Key Terms

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

3 terms

s&p midcap 400 financial

"Jan 30, 2026 | S&P MidCap 400 | Addition | TTM Technologies | TTMI"

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

"Jan 30, 2026 | S&P SmallCap 600 | Addition | Amneal Pharmaceuticals | AMRX"

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

ABOUT S&P DOW JONES INDICES

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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/.

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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.