Is Macerich the Dividend Stock for You?
The mall real estate investment trust (REIT) sector got hit hard by the coronavirus pandemic. Even companies like Macerich (NYSE: MAC) that own malls in good locations weren't spared. As the world looks to move past COVID-19 with new vaccines, is now the time to buy this mall REIT, which yields almost 5%? Read this before you do.
When you look at the mall REIT sector, there are basically just three companies that still pay dividends: Macerich, with its 4.9% yield; factory outlet center specialist Tanger Factory Outlet Centers at 4.4%; and industry giant Simon Property Group, at 4.5%. By comparison, the S&P 500 Index yields roughly 1.5%, and the average REIT, using the Vanguard Real Estate Index ETF as a proxy, yields 3.8%.
Image source: Getty Images.
Source Fool.com
