The Overlooked Dividend Stock That Has Grown Its Payout for 12 Straight Years
Rexford has increased its dividend for 12 consecutive years.
Overview
Shares of Rexford Industrial Realty (NYSE: REXR) are down more than 1% this year. The real estate investment trust (REIT) focuses strictly on Southern California infill industrial properties: warehouses, distribution facilities, and light manufacturing buildings located inside densely populated markets, where the land is almost fully developed.
The stock is overlooked because it is a mid-cap stock, with a market cap of $8.76 billion, and isn't a flashy artificial intelligence (AI) investment, a tech stock, or a turnaround story. It also tends to be dismissed by investors as too concentrated because its properties are all in Southern California. However, instead of seeing that as a risk, realize the company has some monopolistic advantages.
Details
Here are three reasons Rexford is a good stock to buy right now.
Source
Originally published at www.fool.com.