Simon® Announces New $2.0 Billion Common Stock Repurchase Program

Rhea-AI Summary

Simon (NYSE:SPG) announced a new $2.0 billion common stock repurchase program authorized by its Board of Directors. The program permits purchases through February 29, 2028 in the open market or via privately negotiated transactions, and replaces a prior $2.0 billion program.

Approximately $1.7 billion had remained available under the prior program. Repurchases are at management's discretion, subject to market conditions, applicable law, and may be suspended or discontinued without obligation to repurchase any specific amount.

Positive

• Authorized $2.0B common stock repurchase through Feb 29, 2028
• Repurchases may occur in open market or private transactions
• Replaces prior $2.0B program with approximately $1.7B previously available

Negative

• No obligation to repurchase any specific dollar amount or shares
• Repurchases subject to market conditions and company discretion, may be suspended

Key Figures

New repurchase authorization: $2.0 billion Program end date: February 29, 2028 Prior program size: $2.0 billion +2 more

5 metrics

New repurchase authorization $2.0 billion Maximum common stock repurchases through Feb 29, 2028

Program end date February 29, 2028 Authorization window for the new repurchase program

Prior program size $2.0 billion Previous repurchase program replaced by the new authorization

Remaining prior capacity $1.7 billion Unused amount under prior program before replacement

Prior expiry date February 15, 2026 Scheduled expiration of the replaced repurchase program

Market Reality Check

Price: $199.60 Vol: Volume 1,984,541 is about...

normal vol

$199.60 Last Close

Volume Volume 1,984,541 is about 1.15x the 20-day average of 1,730,911 shares. normal

Technical Price $195.59 is above the $173.92 200-day MA and within 0.5% of the 52-week high $196.59.

Peers on Argus

SPG gained 3.26% with key retail REIT peers also positive (e.g., O +1.26%, KIM +...

SPG gained 3.26% with key retail REIT peers also positive (e.g., O +1.26%, KIM +2.09%, FRT +2.46%), indicating a sector-supportive backdrop alongside company-specific buyback news.

Common Catalyst Retail-focused REITs showed broad strength, while only limited peer news (ADC dividends) was reported, suggesting SPG’s new $2.0B buyback is a distinct capital return catalyst.

Previous Buybacks Reports

1 past event · Latest: Feb 08 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	Move	Catalyst
Feb 08	Share repurchase	Positive	+2.0%	Board authorized a new <b>$2.0B</b> common stock repurchase program.

Pattern Detected

Available history for buyback announcements shows a prior positive reaction, with shares rising after the last disclosed repurchase authorization.

Recent Company History

Recent news flow highlighted strong fundamentals and capital return. On Feb 2, 2026, SPG reported record $4.812B 2025 Real Estate FFO and $3.5B returned to shareholders, but shares fell 0.94%. Earlier, a tax reporting release and a senior notes offering on Jan 6, 2026 also saw mildly negative reactions. In contrast, a prior $2.0B buyback authorization on Feb 8, 2024 coincided with a 1.96% gain, providing the closest parallel to today’s repurchase announcement.

Historical Comparison

buybacks

+2.0 %

Average Historical Move

Historical Analysis

In prior buyback news, SPG’s shares moved about 1.96% on average. Today’s 3.26% gain exceeds that precedent, suggesting stronger enthusiasm for the renewed $2.0B authorization near 52-week highs.

Typical Pattern

SPG repeated a $2.0B common stock repurchase authorization, replacing a prior program and maintaining a consistent, board-approved capital return framework over multiple years.

Market Pulse Summary

This announcement detailed a new $2.0B common stock repurchase program running through February 29, ...

Analysis

This announcement detailed a new $2.0B common stock repurchase program running through February 29, 2028, replacing a prior $2.0B authorization with about $1.7B still available. The program is discretionary and may be suspended at any time. In context of record $4.812B 2025 Real Estate FFO and prior capital returns, future updates on actual buyback execution and balance sheet metrics will be important to track.

Key Terms

real estate investment trust, common stock repurchase program

2 terms

real estate investment trust financial

"Simon®, a real estate investment trust engaged in the ownership of premier shopping..."

A real estate investment trust (REIT) is a company that owns and manages income-producing properties—like apartment buildings, shopping centers, offices, or warehouses—and is required to pass most of its rental income to shareholders as dividends. Think of it as a shared property owner: instead of buying a whole building, investors buy a slice of a portfolio that pays regular income and can offer exposure to property values and rental markets without direct management. REITs matter to investors for predictable income, diversification, and liquidity compared with owning physical real estate.

common stock repurchase program financial

"today announced that the Company's Board of Directors authorized a new common stock repurchase program."

A common stock repurchase program is when a company uses cash to buy back its own shares from the market, reducing the number of shares available to outside owners. Think of it like a store buying back coupons so each remaining coupon becomes a slightly larger slice of ownership and potential earnings; for investors, buybacks can raise per-share profits, change ownership percentages, and signal how management chooses to use excess cash, which can affect stock value.

AI-generated analysis. Not financial advice.

INDIANAPOLIS, Feb. 5, 2026 /PRNewswire/ -- Simon^®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced that the Company's Board of Directors authorized a new common stock repurchase program. Under the new program, the Company may purchase up to $2.0 billion of its common stock through February 29, 2028, as market conditions warrant. The shares may be repurchased in the open market or in privately negotiated transactions, at prices that the Company deems appropriate and subject to market conditions, applicable law and other factors deemed relevant in the Company's sole discretion. The stock repurchase program does not obligate the Company to repurchase any dollar amount or number of shares of common stock, and the program may be suspended or discontinued at any time. This new $2.0 billion program replaces the previous $2.0 billion program that had been scheduled to expire on February 15, 2026, of which approximately $1.7 billion remained available.

Forward-Looking Statements
Certain statements made in this press release may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained, and it is possible that the Company's actual results may differ materially from those indicated by these forward–looking statements due to a variety of risks, uncertainties and other factors. Such factors include, but are not limited to: the intensely competitive market environment in the retail real estate industry and the retail industry, including e-commerce; the inability to renew leases and relet vacant space at existing properties on favorable terms; the inability to collect rent due to the bankruptcy or insolvency of tenants or otherwise; the potential loss of anchor stores or major tenants; an increase in vacant space at our properties; the loss of key management personnel; changes in economic and market conditions that may adversely affect the general retail environment, including but not limited to those caused by inflation, the impact of tariffs and global trade disruptions on us to the extent impacting our tenants, recessionary pressures, wars, escalating geopolitical tensions as a result of the war in Ukraine and the conflicts in the Middle East, and supply chain disruptions; the potential for violence, civil unrest, criminal activity or terrorist activities at our properties; the availability of comprehensive insurance coverage; security breaches that could compromise our information technology or infrastructure; changes in market rates of interest; our international activities subjecting us to risks that are different from or greater than those associated with our domestic operations, including changes in foreign exchange rates; the impact of our substantial indebtedness on our future operations, including covenants in the governing agreements that impose restrictions on us that may affect our ability to operate freely; any disruption in the financial markets that may adversely affect our ability to access capital for growth and satisfy our ongoing debt service requirements; any change in our credit rating; our continued ability to maintain our status as a REIT; changes in tax laws or regulations that result in adverse tax consequences; risks associated with the acquisition, development, redevelopment, expansion, leasing and management of properties; the inability to lease newly developed properties on favorable terms; risks relating to our joint venture properties, including guarantees of certain joint venture indebtedness; the effects of climate change; environmental liabilities; natural or other disasters; uncertainties regarding the impact of pandemics, epidemics or public health crises, and the associated governmental restrictions on our business, financial condition, results of operations, cash flow and liquidity; and general risks related to real estate investments, including the illiquidity of real estate investments.

The Company discusses these and other risks and uncertainties under the heading "Risk Factors" in its annual and quarterly periodic reports filed with the SEC.  The Company may update that discussion in subsequent other periodic reports, but except as required by law, the Company undertakes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise.

About Simon          
Simon^® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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SOURCE Simon

FAQ

What did Simon (SPG) announce on February 5, 2026 about share repurchases?

Simon authorized a new $2.0 billion common stock repurchase program through February 29, 2028. According to the company, repurchases may occur in the open market or via privately negotiated transactions at management's discretion and subject to market conditions and applicable law.

How long is the Simon (SPG) repurchase program effective and when does it expire?

The new repurchase program may be used through February 29, 2028. According to the company, purchases under the program are permitted until that date and the program can be suspended or discontinued at any time.

How will Simon (SPG) execute repurchases under the $2.0 billion program?

Repurchases may be made in the open market or in privately negotiated transactions. According to the company, timing and prices are determined by management, subject to market conditions and applicable law.

Does the new Simon (SPG) program replace any prior buyback authorization?

Yes, the new $2.0 billion program replaces the prior $2.0 billion program that was set to expire February 15, 2026. According to the company, about $1.7 billion remained available under the previous program.

Will Simon (SPG) be required to buy back shares under the new program?

No, the company is not obligated to repurchase any specific dollar amount or number of shares. According to the company, the program may be suspended or discontinued and purchases are at management's sole discretion.