Rexford Industrial (NYSE: REXR) is offering a 3.3% dividend yield today, which is more than twice the yield of the S&P 500 index. It has increased its dividend annually for a decade and at a rapid pace of more than 10% a year. The stock is still 40% below the highs reached in 2022, despite continued strong operating performance. Here's why you might want to buy this real estate investment trust (REIT) and hold on to it for the long term.

As Rexford Industrial's name implies, it owns industrial real estate. The list includes both warehouses and manufacturing assets, which is pretty typical of an industrial REIT. Rexford currently owns over 420 properties and has around 720 buildings. It has roughly 1,600 lessees. It is one of the larger industrial REITs, sporting a market cap of $11 billion.

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Source Fool.com