Can I put the Airport Extreme behind a Verizon Actiontec router/modem?

I would like to keep the original Verizon Actiontec router active for use with my household stuff (camera, thermostat, printer, powerline-->roku, powerline-->ps4) and use the Airport Extreme for our 5 iphones, ipad, chromecast, amazon fire stick etc. I would like distinct SSIDs and passwords for the Verizon and Apple networks. Is this possible?

verizon-->actiontec router --> LAN --> cat5e cable --> WAN port of Airport Extreme