No. of Recommendations: 6
Marting
What would you like to know about RPT?

Mergent on-line has a boat-load of info on this small equity REIT.

RPT Realty is a real estate investment trust. Co. owns and operates a national portfolio of open-air shopping destinations principally located in U.S. markets. Co.'s property portfolio consists of shopping centers (including shopping center owned through a joint venture). Co. conducts substantially all of its business through its operating partnership, RPT Realty, L.P. (the Operating Partnership). The Operating Partnership, either directly or indirectly through partnerships or limited liability companies, holds fee title to all owned properties. As the sole general partner of the Operating Partnership, Co. has the power to manage and conduct the business of the Operating Partnership.

I don't really have any interest in a $1.18B market cap REIT that hasn't grown its dividend since 3Q16. Revenue's are not showing a very good progression....

1Q17	67,825
2Q17 67,062
3Q17 65,931
4Q17 64,264
1Q18 62,718
2Q18 69,967
3Q18 64,217
4Q18 63,720
1Q19 59,708
2Q19 57,361
3Q19 58,921


However, this may be an ideal preferred. Not-too-healthy but sound-base financials with a so-so share price history is often a great preferred stock. RPT-D's non-redeemable convertible preferred is selling at a $8.88 premium to its $50 issue price but is yielding 6.1%, which is not bad considering today's yield climate. The only other issue I think I'd look at (but haven't) is the conditions for conversion. But assuming this doesn't look like a conversion anytime soon, you could do a lot worse with a 6%+ current yield.

BruceM
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