Macerich (NYSE: MAC) offers investors an attractive dividend yield of roughly 5%. That's well above the 1.63% from an S&P 500 index fund and the 3.5% from the average real estate investment trust (REIT), using the Vanguard Real Estate Index ETF as a proxy.

But how is Macerich, a mall-focused REIT, actually doing compared with its pre-pandemic performance and versus its main rival, Simon Property Group (NYSE: SPG)? Let's take a closer look at Macerich and why the dividend is high and whether this REIT stock is worth a closer look.

Macerich owns or has an interest in a collection of 44 very high-quality malls. Even the best malls were shut down in 2020 as governments around the world tried to slow the spread of the coronavirus.

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Source Fool.com