The news was confirmed by the New York Post's Larry Brooks on Monday evening. According to Brooks, the return for the Rangers in the deal is a 2023 1st round pick, which is of course top-10 protected.
Lundkvist made it into 25 games for the Rangers last season, notching 1 goal and 3 assists for a total of 4 points over that span. He finished his season with the Rangers' AHL affiliate, the Hartford Wolf Pack, playing 34 games and amassing 15 points over that span.
The return may seem like a lot, but many seem to forget that just a couple short years ago, Lundkvist put up 8 points in 7 games for Tre Kronor at the 2020 World Junior Championships. He was touted as one of the Rangers' top young blueliners and I'm sure the Rangers did not want to move him. However, they were able to recoup a 1st round pick for a player who the Dallas Stars are almost certainly going to use right away.