Here's Why Macerich Can Keep Raising Its Dividend
Macerich (NYSE: MAC) recently increased its dividend by a hefty 13.3%. Although nice to see, the hike came well after its most notable mall real estate investment trust (REIT) peers returned to dividend growth. But, like Simon Property Group (NYSE: SPG) and Tanger Factory Outlet Centers (NYSE: SKT), Macerich's hike is unlikely to be a one-time move. Here's why Macerich can keep the dividend increases going.
Simon Property Group is the 800 lb. gorilla in the mall space, with a global footprint of over 200 enclosed malls and factory outlet centers. Tanger, as its name suggests, is focused exclusively on a modest portfolio of 37 factory outlet centers in the United States and Canada. What sets Macerich apart is that it operates 44 properties that are, largely, high-performing enclosed malls.
Image source: Getty Images.
Source Fool.com
