MAC - Why Is Macerich's Dividend Yield So High?
The past year has been a struggle for the real estate investment trust (REIT) space. Rising interest rates have been a headwind, and many have yet to completely recover from hits taken during the COVID-19 pandemic. Retail REITs have been hit hard and are trading at some attractive dividend yields. Macerich (NYSE: MAC) is trading with a high yield -- is the dividend safe?
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Macerich is a REIT focusing on town centers in dense urban and suburban areas. The company focuses on areas with high population density and growth. About 88% of its centers are located on the West Coast, Phoenix, and the corridor between Metro New York and D.C.
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Why Is Macerich's Dividend Yield So High?