RPT - RPT Realty Preferred: 10.8% Yielding Shopping Center REIT Is A Spec Buy

(This report was written by Landlord Investor - a member of our team at Yield Hunting. The idea was originally presented to our members on July 23, 2020.)

(RPT.PD) is the only preferred stock from RPT Realty (RPT) which is a $490M market cap open air shopping center REIT. It's a par $50 preferred that yields 10.8% and is trading at a 33% discount to par. It's a solid speculative buy and is undervalued compared to other shopping center preferreds.

RPT-D is a "broken convertible" preferred stock which means that it can be converted to