RPT Realty (KIM+N) 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 27, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	RAMCO GERSHENSON PROPERTIES TRUST
Entity Central Index Key	842,183
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	RPT
Entity Common Stock, Shares Outstanding		80,029,747

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Income producing properties, at cost:
Land	$ 397,935	$ 397,935
Buildings and improvements	1,745,157	1,732,844
Less accumulated depreciation and amortization	(365,969)	(351,632)
Income producing properties, net	1,777,123	1,779,147
Construction in progress and land available for development or sale	71,235	58,243
Net real estate	1,848,358	1,837,390
Equity investments in unconsolidated joint ventures	5,494	3,493
Cash and cash equivalents	10,315	8,081
Restricted cash and escrows	5,214	4,810
Accounts receivable (net of allowance for doubtful accounts of $1,376 and $1,374 as of March 31, 2018 and December 31, 2017, respectively)	25,254	26,145
Acquired lease intangibles, net	56,582	59,559
Other assets, net	94,028	90,916
TOTAL ASSETS	2,045,245	2,030,394
LIABILITIES AND SHAREHOLDERS' EQUITY
Notes payable, net	1,023,488	999,215
Capital lease obligation	1,022	1,022
Accounts payable and accrued expenses	55,455	56,750
Acquired lease intangibles, net	59,261	60,197
Other liabilities	8,407	8,375
Distributions payable	19,704	19,666
TOTAL LIABILITIES	1,167,337	1,145,225
Commitments and Contingencies
Ramco-Gershenson Properties Trust (RPT) Shareholders' Equity:
Preferred shares, $0.01 par, 2,000 shares authorized: 7.25% Series D Cumulative Convertible Perpetual Preferred Shares, (stated at liquidation preference $50 per share), 1,849 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	92,427	92,427
Common shares of beneficial interest, $0.01 par, 120,000 shares authorized, 79,475 and 79,366 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	795	794
Additional paid-in capital	1,161,252	1,160,862
Accumulated distributions in excess of net income	(402,512)	(392,619)
Accumulated other comprehensive income	5,243	2,858
TOTAL SHAREHOLDERS' EQUITY ATTRIBUTABLE TO RPT	857,205	864,322
Noncontrolling interest	20,703	20,847
TOTAL SHAREHOLDERS' EQUITY	877,908	885,169
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,045,245	$ 2,030,394

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable, allowance for doubtful accounts	$ 1,376	$ 1,374
Preferred shares, par (in usd per share)	$ 0.01	$ 0.01
Preferred shares, authorized (in shares)	2,000,000	2,000,000
Common shares of beneficial interest, par (in usd per share)	$ 0.01	$ 0.01
Common shares of beneficial interest, authorized (in shares)	120,000,000	120,000,000
Common shares of beneficial interest, issued (in shares)	79,475,000	79,366,000
Common shares of beneficial interest, outstanding (in shares)	79,475,000	79,366,000
Series D Preferred Shares
Cumulative convertible perpetual preferred shares, issued (in shares)	1,849,000	1,849,000
Cumulative convertible perpetual preferred shares, outstanding (in shares)	1,849,000	1,849,000
Cumulative convertible perpetual preferred shares, liquidation preference (in usd per share)	$ 50	$ 50
Cumulative convertible perpetual preferred shares, dividend rate	7.25%	7.25%

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUE
Minimum rent	$ 46,912	$ 49,437
Percentage rent	324	238
Recovery income from tenants	14,582	16,891
Other property income	814	1,106
Management and other fee income	86	153
TOTAL REVENUE	62,718	67,825
EXPENSES
Real estate taxes	10,157	10,993
Recoverable operating expense	6,806	7,608
Non-recoverable operating expense	1,001	1,148
Depreciation and amortization	21,112	22,817
General and administrative expense	5,887	6,451
Provision for impairment	0	5,717
TOTAL EXPENSES	44,963	54,734
OPERATING INCOME	17,755	13,091
OTHER INCOME AND EXPENSES
Other (expense) income, net	253	(311)
Gain on sale of real estate	0	11,375
Earnings from unconsolidated joint ventures	71	86
Interest expense	(10,601)	(10,799)
INCOME BEFORE TAX	7,478	13,442
Income tax provision	(18)	(28)
NET INCOME	7,460	13,414
Net income attributable to noncontrolling partner interest	(174)	(316)
NET INCOME ATTRIBUTABLE TO RPT	7,286	13,098
Preferred share dividends	(1,675)	(1,675)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 5,611	$ 11,423
EARNINGS PER COMMON SHARE
Basic (in usd per share)	$ 0.07	$ 0.14
Diluted (in usd per share)	$ 0.07	$ 0.14
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	79,423	79,299
Diluted (in shares)	79,570	79,481
Cash Dividend Declared per Common Share (in usd per share)	$ 0.22	$ 0.22
OTHER COMPREHENSIVE INCOME
Net income	$ 7,460	$ 13,414
Other comprehensive gain (loss):
Gain (loss) on interest rate swaps	2,442	723
Comprehensive income	9,902	14,137
Comprehensive income attributable to noncontrolling interest	(232)	(333)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RPT	$ 9,670	$ 13,804

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Additional Paid-in Capital	Accumulated Distributions in Excess of Net Income	Accumulated Other Comprehensive Income	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASU 2017-05	$ 2,160				$ 2,109		$ 51
Beginning balance at Dec. 31, 2017	885,169	$ 92,427	$ 794	$ 1,160,862	(392,619)	$ 2,858	20,847
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of OP unit holders	(7)				(2)		(5)
Share-based compensation and other expense, net of shares withheld for employee taxes	391		1	390
Dividends declared to common shareholders	(17,484)				(17,484)
Dividends declared to preferred shareholders	(1,675)				(1,675)
Distributions declared to noncontrolling interests	(421)						(421)
Dividends declared to deferred shares	(127)				(127)
Other comprehensive income adjustment	2,442					2,385	57
Net income	7,460				7,286		174
Ending balance at Mar. 31, 2018	$ 877,908	$ 92,427	$ 795	$ 1,161,252	$ (402,512)	$ 5,243	$ 20,703

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
OPERATING ACTIVITIES
Net income	$ 7,460	$ 13,414
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21,112	22,817
Amortization of deferred financing fees	380	346
Income tax provision	18	28
Earnings from unconsolidated joint ventures	(71)	(86)
Distributions received from operations of unconsolidated joint ventures	222	374
Provision for impairment	0	5,717
Gain on sale of real estate	0	(11,375)
Amortization of premium on mortgages, net	(260)	(292)
Service-based restricted share expense	724	645
Long-term incentive cash and equity compensation expense	71	(118)
Changes in assets and liabilities:
Accounts receivable, net	891	(2,872)
Acquired lease intangibles and other assets, net	206	277
Accounts payable, acquired lease intangibles and other liabilities	(3,205)	(3,388)
Net cash provided by operating activities	27,548	25,487
INVESTING ACTIVITIES
Acquisition of real estate	(6,365)	(168,763)
Development and capital improvements	(22,816)	(13,656)
Net proceeds from sales of real estate	0	27,422
Net cash used in by investing activities	(29,181)	(154,997)
FINANCING ACTIVITIES
Repayments of mortgages and notes payable	(642)	(806)
Proceeds on revolving credit facility	25,000	178,000
Repayments on revolving credit facility	0	(6,000)
Proceeds, net of costs, from issuance of common stock	0	(24)
Redemption of operating partnership units for cash	(7)	0
Shares used for employee taxes upon vesting of awards	(411)	(485)
Dividends paid to preferred shareholders	(1,675)	(1,675)
Dividends paid to common shareholders and deferred shares	(17,573)	(17,533)
Distributions paid to operating partnership unit holders	(421)	(422)
Net cash provided by financing activities	4,271	151,055
Net change in cash, cash equivalents and restricted cash	2,638	21,545
Cash, cash equivalents and restricted cash at beginning of period	12,891	14,726
Cash, cash equivalents and restricted cash at end of period	15,529	36,271
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest (net of capitalized interest of $245 and $54 in 2018 and 2017, respectively)	$ 6,078	$ 6,714

Condensed Consolidated Stateme7

Condensed Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Cash Flows [Abstract]
Cash paid for interest, capitalized interest	$ 245	$ 54

Organization and Basis of Prese

Organization and Basis of Presentations	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Organization and Basis of Presentations	Organization and Basis of Presentations Organization Ramco-Gershenson Properties Trust, together with its subsidiaries (the “Company” or "RPT"), is a real estate investment trust (“REIT”) engaged in the business of owning, developing, redeveloping, acquiring, managing and leasing large multi-anchored shopping centers primarily in a number of the largest metropolitan markets in the central United States. As of March 31, 2018 , our property portfolio consisted of 56 wholly owned shopping centers comprising approximately 13.6 million square feet. We also have ownership interests of 7% , 20% , 30% and 30% , respectively, in four joint ventures. Our joint ventures are reported using equity method accounting. We earn fees from two joint ventures for managing, leasing and redeveloping the shopping centers they own. In addition, we own interests in several land parcels that are available for development or sale. Most of our properties are anchored by supermarkets and/or national chain stores. Our credit risk, therefore, is concentrated in the retail industry. Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company and our majority owned subsidiary, the Operating Partnership, Ramco-Gershenson Properties, L.P. (the "OP") ( 97.7% owned by the Company at March 31, 2018 and December 31, 2017 ), and all wholly-owned subsidiaries, including entities in which we have a controlling financial interest. We have elected to be a REIT for federal income tax purposes. All intercompany balances and transactions have been eliminated in consolidation. The information furnished is unaudited and reflects all adjustments which are, in the opinion of management, necessary to reflect a fair statement of the results for the interim periods presented, and all such adjustments are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2017 . The preparation of our unaudited financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and reported amounts that are not readily apparent from other sources. Actual results could differ from those estimates. Recently Adopted Accounting Pronouncements In February 2017, the FASB issued ASU 2017-05 "Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets" ("ASU 2017-05"). ASU 2017-05 clarifies that a financial asset is within the scope of Subtopic 610-20 if it meets the definition of an in substance nonfinancial asset. ASU 2017-05 also defines the term "in substance nonfinancial asset". In addition, ASU 2017-05 eliminates the guidance specific to real estate sales in ASC 360-20. It is effective for annual periods beginning after December 15, 2017, therefore we adopted the standard on January 1, 2018. In doing so, the Company recorded an adjustment under the modified retrospective method of approximately $2.2 million to shareholders' equity associated with a transaction that occurred in the fourth quarter of 2017. The adjustment had no impact on earnings or cash flows. In May 2017, the FASB issued ASU 2017-09 "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" ("ASU 2017-09"). ASU 2017-09 clarifies guidance about what changes to the terms and conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. It is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18 "Statement of Cash Flows." This new guidance is effective January 1, 2018, with early adoption permitted, and requires amounts that are generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The pronouncement requires a retrospective transition method of adoption. The adoption of this standard resulted in the reclassification of approximately $26.1 million of proceeds from real estate dispositions during the three months ended March 31, 2017 that were held in escrow as restricted cash. The amount was reclassified as net proceeds from sales of real estate from a non cash investing activity. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balances sheets that reconciles to the total shown within the consolidated statements of cash flows. As of March 31, 2018 2017 Cash and cash equivalents $ 10,315 $ 4,486 Restricted cash and escrows 5,214 31,785 $ 15,529 $ 36,271 Restricted cash generally consists of funds held in escrow by lenders to pay real estate taxes, insurance premiums and certain capital expenditures. In limited instances, restricted cash may include deposits on potential future acquisitions and/or proceeds related to dispositions of real estate. In August 2016, the FASB issued ASU 2016-15 "Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15"), which clarifies the treatment of several cash flow categories. In addition, ASU 2016-15 clarifies that when cash receipts and cash payments have aspects of more than one class of cash flows and cannot be separated, classification will depend on the predominant source or use. This update is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted, including adoption in an interim period. The adoption of this standard did not have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 is a comprehensive revenue recognition standard that superseded nearly all prior GAAP revenue recognition guidance as well as prior GAAP guidance governing the sale of non-financial assets. The standard’s core principle is that a company should recognize revenue when it satisfies performance obligations, by transferring promised goods or services to customers, in an amount that reflects the consideration to which the company expects to be entitled in exchange for fulfilling those performance obligations. In doing so, companies need to exercise more judgment and make more estimates than under prior GAAP guidance. ASU 2014-09 became effective for public entities for annual and interim reporting periods beginning after December 15, 2017 and early adoption was permitted in periods ending after December 15, 2016. The guidance permited two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect initially applying the guidance recognized at the date of initial application (modified retrospective method). We adopted the standard and the related updates subsequently issued by the FASB using the modified retrospective method on January 1, 2018. ASU 2014-09 applies only to certain revenue included in Other Property Income and Management and Other Fee Income in our Consolidated Statement of Operations which totaled $ 0.9 million , or less than 2.0% of total revenue, for the quarter ended March 31, 2018 . The adoption of the standard did not result in a cumulative adjustment recognized as of January 1, 2018. Recent Accounting Pronouncements In March 2018, the FASB issued ASU 2018-05, "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118." These amendments add SEC guidance, among other things, to the FASB Accounting Standards Codification regarding the Tax Cuts and Jobs Act. This standard is effective for all public companies upon addition to the FASB Codification. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In March 2018, the FASB issued ASU 2018-04, "Investments-Debt Securities (Topic 320 and Regulated Operations (Topic 980): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273". These amendments supersede previous SEC guidance in the Codification in SAB Topic 5.M, Other-Than-Temporary Impairment of Certain Investments in Equity Securities and special balance sheet requirements in Regulation S-X Rule 3A-05 for Public Utility Holding Companies. This standard is effective for all public companies upon addition to the FASB Codification. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In February 2018, the FASB issued ASU 2018-03, "Technical Corrections and Improvements to Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities", that clarifies the guidance in ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10). For public business entities, ASU 2018-03 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, "Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". These amendments provide financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. This standard is effective for for fiscal years beginning after December 15, 2018 and interim periods within those financial years. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In January 2018, the FASB issued ASU 2018-01, "Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842". The standard provides an optional transition practical expedient for the adoption of ASU 2016-02 that, if elected, would not require an organization to reconsider its accounting for existing land easements that are not currently accounted for under the old leases standard. Also under this new pronouncement, non-lease components of new or modified leases, including common area maintenance reimbursements, will be accounted for under the Revenue from Contracts with Customers guidance. Additionally, only incremental direct leasing costs may be capitalized under this new guidance. This standard is effective along with ASU 2016-02, for periods after December 15, 2018. The Company expects to adopt this new guidance on January 1, 2019 and will continue to evaluate the impact of this guidance until it becomes effective. In January 2017, the FASB issued ASU 2017-04 "Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"). ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU 2017-04 is not expected to have a material impact on our consolidated financial statements. In June 2016, the FASB updated Accounting Standards Codification ("ASC") Topic 326 "Financial Instruments - Credit Losses" with ASU 2016-13 “Measurement of Credit Losses on Financial Instruments” ("ASU 2016-13"). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. ASU 2016-13 is effective for annual periods (including interim periods within those periods) beginning after December 15, 2019. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In February 2016, the FASB updated ASC Topic 842 "Leases" ("ASU 2016-02"). ASU 2016-02 requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not direct leasing costs. ASU 2016-02 is effective for periods beginning after December 15, 2018, with early adoption permitted using a modified retrospective approach. The Company continues to evaluate the effect the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. However, we currently believe the adoption of ASU 2016-02 will not have a material impact for operating leases where we are a lessor and we will continue to record revenues from rental properties for operating leases on a straight-line basis. In addition, for leases where the Company is a lessee, primarily the Company’s ground lease and administrative office lease, the Company believes it will record a lease liability and a right of use asset at fair value upon adoption related to these items. Additionally, only incremental direct leasing costs may be capitalized under this new guidance. The Company expects to adopt this new guidance on January 1, 2019 and will continue to evaluate the impact of this guidance until it becomes effective.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2018
Real Estate [Abstract]
Real Estate	Real Estate Included in our net real estate assets are income producing properties that are recorded at cost less accumulated depreciation and amortization, construction in process and land available for development or sale. We review our investment in real estate, including any related intangible assets, for impairment on a property-by-property basis whenever events or changes in circumstances indicate that the carrying value of the property may not be recoverable. These changes in circumstances include, but are not limited to, changes in occupancy, rental rates, tenant sales, net operating income, geographic location, real estate values and expected holding period. For the three months ended March 31, 2018 , we recorded no impairment provision and for the three months ended March 31, 2017, we recorded an impairment provision of $5.7 million on shopping centers classified as income producing. The 2017 adjustment was triggered by changes in the associated market price and expected holding period assumptions related to these shopping centers. To estimate fair value, we use discounted cash flow models that include assumptions of the discount rates that market participants would use in pricing an asset or market pricing from potential or comparable transactions. Land available for development or sale includes real estate projects where vertical construction has yet to commence, but which have been identified by us and are available for future development when market conditions dictate the demand for a new shopping center. The viability of all projects under construction or development, including those owned by unconsolidated joint ventures, is regularly evaluated under applicable accounting requirements, including requirements relating to abandonment of assets or changes in use. Land available for development or sale was $32.3 million and $31.6 million at March 31, 2018 and December 31, 2017 , respectively. Construction in progress represents existing development, redevelopment and tenant build-out projects. When projects are substantially complete and ready for their intended use, balances are transferred to land or building and improvements as appropriate. Construction in progress was $38.9 million and $26.6 million at March 31, 2018 and December 31, 2017 , respectively. The increase in construction in progress from December 31, 2017 to March 31, 2018 was due primarily to the ongoing redevelopment and expansion projects across the portfolio. Pursuant to the criteria established under ASC Topic 360 we classify properties as held for sale when executed purchase and sales agreement contingencies have been satisfied thereby signifying that the sale is legally binding. As of March 31, 2018 , we had no properties and no parcels classified as held for sale.

Property Acquisitions and Dispo

Property Acquisitions and Dispositions	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Property Acquisitions and Dispositions	Property Acquisitions and Dispositions Acquisitions The following table provides a summary of our acquisition activity for the three months ended March 31, 2018 : Gross Property Name Location GLA (in thousands) Acreage Date Purchase Assumed (In thousands) Leasehold Interest (West Oaks) Novi, MI 60 N/A 01/05/18 $ 6,365 $ — Total consolidated income producing acquisitions 60 — $ 6,365 $ — Total Acquisitions 60 — $ 6,365 $ — The aggregate fair value of our 2018 acquisition through March 31, 2018 , was allocated and is reflected in the following table. Allocated Fair Value (In thousands) Buildings and improvements $ 6,427 Above market leases 237 Lease origination costs 633 Other liabilities (353 ) Below market leases (579 ) Total purchase price allocated $ 6,365 Total revenue and net income for the 2018 acquisition included in our condensed consolidated statement of operations for the three months ended March 31, 2018 were as follows: Three Months Ended March 31, 2018 (In thousands) Total revenue from 2018 acquisition $ 188 Net income from 2018 acquisition $ 188 Unaudited Proforma Information If the 2018 acquisition had occurred on January 1, 2017, our consolidated revenues and net income for the three months ended March 31, 2018 and 2017 would have been as follows: Three Months Ended March 31, 2018 2017 (In thousands) Consolidated revenue $ 62,726 $ 68,021 Consolidated net income available to common shareholders $ 5,619 $ 11,619 Dispositions There was no disposition activity for the three months ended March 31, 2018 .

Equity Investments in Unconsoli

Equity Investments in Unconsolidated Joint Ventures	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments in Unconsolidated Joint Ventures	Equity Investments in Unconsolidated Joint Ventures We have four joint venture agreements whereby we own 7% , 20% , 30% and 30% , respectively, of the equity in each joint venture. Under three of the joint ventures, we and the joint venture partners have joint approval rights for major decisions, including those regarding property operations. We cannot make significant decisions without our partner’s approval. Accordingly, we account for our interest in the joint ventures using the equity method of accounting. The fourth joint venture was created in November 2017. The Company became a 30% equity investor in the entity for $3.0 million . The operating agreement of the joint venture does not provide the equity investors substantive kick-out rights or substantive participating rights, therefore we have concluded it is a variable interest entity. The Company has evaluated all explicit and implicit interests and further concluded we do not control the entity, nor are we the primary beneficiary. Because we do not control the joint venture we do not consolidate it as a variable interest entity, but instead account for it using the equity method. As of March 31, 2018, the Company's exposure to loss in the variable interest joint venture approximated the carrying value of its equity investment of $3.0 million . The combined condensed financial information for our unconsolidated joint ventures is summarized as follows: Balance Sheets March 31, 2018 December 31, 2017 (In thousands) ASSETS Investment in real estate, net $ 93,290 $ 93,801 Other assets 3,810 4,099 Total Assets $ 97,100 $ 97,900 LIABILITIES AND OWNERS' EQUITY Mortgage notes payable $ 41,805 $ 42,330 Other liabilities $ 376 $ 220 Owners' equity 54,919 55,350 Total Liabilities and Owners' Equity $ 97,100 $ 97,900 RPT's equity investments in unconsolidated joint ventures $ 5,494 $ 3,493 Three Months Ended March 31, Statements of Operations 2018 2017 (In thousands) Total revenue $ 1,187 $ 1,163 Total expenses 748 708 Net income $ 439 $ 455 RPT's share of earnings from unconsolidated joint ventures $ 71 $ 86 Acquisitions There was no acquisition activity in the three months ended March 31, 2018 by any of our unconsolidated joint ventures. Dispositions There was no disposition activity in the three months ended March 31, 2018 by any of our unconsolidated joint ventures. Joint Venture Management and Other Fee Income We are engaged by two of our joint ventures to provide asset management, property management, leasing and investing services for such ventures' respective properties. We receive fees for our services, including a property management fee calculated as a percentage of gross revenues received, and recognize these fees as the services are rendered. The following table provides information for our fees earned which are reported in our condensed consolidated statements of operations: Three Months Ended March 31, 2018 2017 (In thousands) Management fees $ 46 $ 74 Leasing fees 40 79 Total $ 86 $ 153

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our mortgages and notes payable and capital lease obligation as of March 31, 2018 and December 31, 2017 : Notes Payable and Capital Lease Obligation March 31, December 31, (In thousands) Senior unsecured notes $ 610,000 $ 610,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 120,302 120,944 Unsecured revolving credit facility 55,000 30,000 Junior subordinated notes 28,125 28,125 1,023,427 999,069 Unamortized premium 3,707 3,967 Unamortized deferred financing costs (3,646 ) (3,821 ) Total notes payable $ 1,023,488 $ 999,215 Capital lease obligation $ 1,022 $ 1,022 Senior unsecured notes and unsecured term loans Our $820.0 million of senior unsecured notes and unsecured term loans have interest rates ranging from 2.79% to 4.74% and are due at various maturity dates from May 2020 through December 2029. Mortgages Our $120.3 million of fixed rate mortgages have interest rates ranging from 3.76% to 7.38% and are due at various maturity dates from December 2019 through June 2026 . The fixed rate mortgages are secured by properties that have an approximate net book value of $190.3 million as of March 31, 2018 . It is our intent to repay the mortgages maturing in 2019 and beyond using cash, borrowings under our unsecured line of credit, or other sources of financing which may include long-term unsecured notes. The mortgage loans encumbering our properties are generally nonrecourse, subject to certain exceptions for which we would be liable for any resulting losses incurred by the lender. These exceptions vary from loan to loan but generally include fraud or a material misrepresentation, misstatement or omission by the borrower, intentional or grossly negligent conduct by the borrower that harms the property or results in a loss to the lender, filing of a bankruptcy petition by the borrower, either directly or indirectly and certain environmental liabilities. In addition, upon the occurrence of certain events, such as fraud or filing of a bankruptcy petition by the borrower, we or our joint ventures would be liable for the entire outstanding balance of the loan, all interest accrued thereon and certain other costs, including penalties and expenses. We have entered into mortgage loans which are secured by multiple properties and contain cross-collateralization and cross-default provisions. Cross-collateralization provisions allow a lender to foreclose on multiple properties in the event that we default under the loan. Cross-default provisions allow a lender to foreclose on the related property in the event a default is declared under another loan. Revolving Credit Facility As of March 31, 2018 , we had $55.0 million outstanding under our revolving credit facility, an increase of $25.0 million from December 31, 2017 , as a result of borrowings for general corporate purposes. After adjusting for outstanding letters of credit issued under our revolving credit facility, not reflected in the accompanying condensed consolidated balance sheets, totaling $0.7 million , we had $294.3 million of availability under our revolving credit facility. The interest rate as of March 31, 2018 was 3.01% . Junior Subordinated Notes Our junior subordinated notes have a variable rate of LIBOR plus 3.30% . The maturity date is January 2038. The following table presents scheduled principal payments on mortgages and notes payable as of March 31, 2018 : Year Ending December 31, (In thousands) 2018 $ 1,920 2019 5,859 2020 102,269 2021 (1) 169,508 2022 77,397 Thereafter 666,474 Subtotal debt 1,023,427 Unamortized premium 3,707 Unamortized deferred financing costs (3,646 ) Total debt $ 1,023,488 (1) Scheduled maturities in 2021 include the $55.0 million balance on the unsecured revolving credit facility drawn as of March 31, 2018 . The unsecured revolving credit facility has two six -month extensions available at the Company's option provided compliance with financial covenants is maintained. Our unsecured revolving credit facility, senior unsecured notes, and unsecured term loan facilities contain financial covenants relating to total leverage, fixed charge coverage ratio, unencumbered assets, tangible net worth and various other calculations. As of March 31, 2018 , we were in compliance with these covenants.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value	Fair Value We utilize fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Derivative instruments (interest rate swaps) are recorded at fair value on a recurring basis. Additionally, we, from time to time, may be required to record other assets at fair value on a nonrecurring basis. As a basis for considering market participant assumptions in fair value measurements, GAAP establishes three fair value levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The assessed inputs used in determining any fair value measurement could result in incorrect valuations that could be material to our condensed consolidated financial statements. These levels are: Level 1 Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 Valuation is based upon prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the assets or liabilities. The following is a description of valuation methodologies used for our assets and liabilities recorded at fair value. Derivative Assets and Liabilities All of our derivative instruments are interest rate swaps for which quoted market prices are not readily available. For those derivatives, we measure fair value on a recurring basis using valuation models that use primarily market observable inputs, such as yield curves. We classify these instruments as Level 2. Refer to Note 7 Derivative Financial Instruments of the notes to the condensed consolidated financial statements for additional information on our derivative financial instruments. The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017. Total Balance Sheet Location Fair Value Level 2 March 31, 2018 (In thousands) Derivative assets - interest rate swaps Other assets $ 5,377 $ 5,377 Derivative liabilities - interest rate swaps Other liabilities $ (10 ) $ (10 ) December 31, 2017 Derivative assets - interest rate swaps Other assets $ 3,133 $ 3,133 Derivative liabilities - interest rate swaps Other liabilities $ (208 ) $ (208 ) The carrying values of cash and cash equivalents, restricted cash, receivables and accounts payable and accrued liabilities are reasonable estimates of their fair values because of the short maturity of these financial instruments. We estimated the fair value of our debt based on our incremental borrowing rates for similar types of borrowing arrangements with the same remaining maturity and on the discounted estimated future cash payments to be made for other debt. The discount rates used approximate current lending rates for loans or groups of loans with similar maturities and credit quality, assume the debt is outstanding through maturity and consider the debt’s collateral (if applicable). Since such amounts are estimates that are based on limited available market information for similar transactions (Level 3), there can be no assurance that the disclosed value of any financial instrument could be realized by immediate settlement of the instrument. Fixed rate debt (including variable rate debt swapped to fixed through derivatives) with carrying values of $940.3 million and $940.9 million as of March 31, 2018 and December 31, 2017 , respectively, had fair values of approximately $931.6 million and $940.8 million , respectively. Variable rate debt’s fair value is estimated to be the carrying values of $83.1 million and $58.1 million as of March 31, 2018 and December 31, 2017 , respectively. The following is a description of valuation methodologies used for our assets and liabilities recorded at fair value on a nonrecurring basis: Net Real Estate Our net investment in real estate, including any identifiable intangible assets, is subject to impairment testing on a nonrecurring basis. To estimate fair value, we use discounted cash flow models that include assumptions of the discount rates that market participants would use in pricing the asset or pricing from potential or comparable market transactions. To the extent impairment has occurred, we charge to expense the excess of the carrying value of the property over its estimated fair value. We classify impaired real estate assets as nonrecurring Level 3. During the three months ended March 31, 2018 , we did not incur any impairment for income producing shopping centers that are required to be measured at fair value on a nonrecurring basis. We did not have any material liabilities that were required to be measured at fair value on a nonrecurring basis during the period.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments We utilize interest rate swap agreements for risk management purposes to reduce the impact of changes in interest rates on our variable rate debt. We may also enter into forward starting swaps to set the effective interest rate on planned variable rate financing. On the date we enter into an interest rate swap, the derivative is designated as a hedge against the variability of cash flows that are to be paid in connection with a recognized liability. Subsequent changes in the fair value of a derivative designated as a cash flow hedge that is determined to be effective are recorded in other comprehensive income (“OCI”) until earnings are affected by the variability of cash flows of the hedged transaction. The differential between fixed and variable rates to be paid or received is accrued, as interest rates change, and recognized currently as interest expense in the condensed consolidated statements of operations. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. Our cash flow hedges become ineffective, for example, if critical terms of the hedging instrument and the debt do not perfectly match such as notional amounts, settlement dates, reset dates and calculation period and LIBOR rate. Changes in the fair values are immediately included in other income and expenses. At March 31, 2018 , all of our hedges were effective. The following table summarizes the notional values and fair values of our derivative financial instruments as of March 31, 2018 : Hedge Notional Fixed Fair Expiration Underlying Debt Type Value Rate Value Date (In thousands) (In thousands) Derivative Assets Unsecured term loan Cash Flow $ 25,000 1.850 % $ 17 10/2018 Unsecured term loan Cash Flow 5,000 1.840 % 4 10/2018 Unsecured term loan Cash Flow 15,000 2.150 % 64 05/2020 Unsecured term loan Cash Flow 10,000 2.150 % 43 05/2020 Unsecured term loan Cash Flow 50,000 1.460 % 942 05/2020 Unsecured term loan Cash Flow 20,000 1.498 % 588 05/2021 Unsecured term loan Cash Flow 15,000 1.490 % 445 05/2021 Unsecured term loan Cash Flow 40,000 1.480 % 1,200 05/2021 $ 180,000 $ 3,303 Derivative Assets - Forward Swaps Unsecured term loan Cash Flow 60,000 1.770 % 2,074 03/2023 Total Derivative Assets $ 240,000 $ 5,377 Derivative Liabilities Unsecured term loan Cash Flow $ 30,000 2.048 % $ (10 ) 10/2018 Total Derivative Liabilities $ 30,000 $ (10 ) The effect of derivative financial instruments on our condensed consolidated statements of operations for the three months ended March 31, 2018 and 2017 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationship Three Months Ended March 31, Three Months Ended March 31, 2018 2017 2018 2017 (In thousands) (In thousands) Interest rate contracts - assets $ 2,278 $ 522 Interest Expense $ (33 ) $ (154 ) Interest rate contracts - liabilities 277 648 Interest Expense (80 ) (293 ) Total $ 2,555 $ 1,170 Total $ (113 ) $ (447 )

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per share (“EPS”): Three Months Ended March 31, 2018 2017 (In thousands, except per share data) Net income $ 7,460 $ 13,414 Net income attributable to noncontrolling interest (174 ) (316 ) Allocation of income to restricted share awards (108 ) (94 ) Income attributable to RPT 7,178 13,004 Preferred share dividends (1,675 ) (1,675 ) Net income available to common shareholders 5,503 11,329 Net income available to common shareholders - Diluted $ 5,503 $ 11,329 Weighted average shares outstanding, Basic 79,423 79,299 Restricted stock awards using the treasury method 147 182 Weighted average shares outstanding, Diluted 79,570 79,481 Income per common share, Basic $ 0.07 $ 0.14 Income per common share, Diluted $ 0.07 $ 0.14 We exclude certain securities from the computation of diluted earnings per share because the inclusion of these securities would have been anti-dilutive. The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share and the number of common shares each was convertible into (in thousands): Three Months Ended March 31, 2018 2017 Issued Converted Issued Converted Operating Partnership Units 1,916 1,916 1,917 1,917 Series D Preferred Shares 1,849 6,772 1,849 6,657 Performance Share Units 196 — 104 — 3,961 8,688 3,870 8,574

Share-based Compensation Plans

Share-based Compensation Plans	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Plans	Share-based Compensation Plans As of March 31, 2018 , we have one share-based compensation plan in effect, the 2012 Omnibus Long-Term Incentive Plan (“2012 LTIP”) under which our compensation committee may grant, subject to any Company performance conditions as specified by the compensation committee, restricted shares, restricted share units, options and other awards to trustees, officers and other key employees. The 2012 LTIP allows us to issue up to 2.0 million shares of our common stock, units or stock options, of which 1.0 million remained available for issuance as of March 31, 2018 . As of March 31, 2018 , we had 503,534 unvested share awards granted under the 2012 LTIP and other plans which terminated when the 2012 LTIP became effective. These awards have various expiration dates through March 2023. During the three months ended March 31, 2018 , we had the following awards: • granted 213,611 shares of service-based restricted stock. The service-based awards were valued based on our closing stock price as of the grant date; and • granted performance-based equity awards that are earned subject to a future performance measurement based on a three -year shareholder return peer comparison (“TSR Grants”). The service-based restricted share awards to employees vest over five years and the compensation expense is recognized on a graded vesting basis. The service-based restricted share awards to trustees vest over one year. We recognized expense related to restricted share grants of $ 0.7 million and $ 0.6 million for the three months ended March 31, 2018 and March 31, 2017 , respectively. Pursuant to ASC 718 – Stock Compensation, we determine the grant date fair value of TSR Grants that will be settled in cash, and any subsequent re-measurements, based upon a Monte Carlo simulation model. We will recognize the compensation expense ratably over the requisite service period. We are required to re-value the cash awards at the end of each quarter using the same methodology as was used at the initial grant date and adjust the compensation expense accordingly. If at the end of the three -year measurement period the performance criterion is not met, compensation expense related to the cash awards previously recognized would be reversed. Compensation benefit related to the cash awards was $(23.0) thousand and $(0.1) million for the three months ended March 31, 2018 and March 31, 2017 , respectively. The Company also determines the grant date fair value of the TSR Grants that will be settled in equity based upon a Monte Carlo simulation model and recognizes the compensation expense ratably over the requisite service period. These equity awards are not re-valued at the end of each quarter. The compensation cost will be recognized regardless of whether the performance criterion are met, provided the requisite service has been provided. Compensation expense related to the equity awards was an expense of $0.1 million for the three months ended March 31, 2018 and $26.0 thousand for the three months ended March 31, 2017 , respectively. We recognized total share-based compensation expense of $0.8 million and $0.5 million for the three months ended March 31, 2018 and March 31, 2017 , respectively. As of March 31, 2018 , we had $6.5 million of total unrecognized compensation expense related to unvested restricted shares and performance based equity and cash awards. This expense is expected to be recognized over a weighted-average period of 3.2 years.

Taxes

Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Taxes	Taxes Income Taxes We conduct our operations with the intent of meeting the requirements applicable to a REIT under sections 856 through 860 of the Internal Revenue Code. In order to maintain our qualification as a REIT, we are required to distribute annually at least 90% of our REIT taxable income, excluding net capital gain, to our shareholders. As long as we qualify as a REIT, we will generally not be liable for federal corporate income taxes. Certain of our operations, including property management and asset management, as well as ownership of certain land, are conducted through our taxable REIT subsidiaries (“TRSs”) which allows us to provide certain services and conduct certain activities that are not generally considered as qualifying REIT activities. Deferred tax assets and liabilities reflect the impact of temporary differences between the amounts of assets and liabilities for financial reporting purposes and the bases of such assets and liabilities as measured by tax laws. Deferred tax assets are reduced by a valuation allowance to the amount where realization is more likely than not assured after considering all available evidence, including expected taxable earnings and potential tax planning strategies. Our temporary differences primarily relate to deferred compensation, depreciation, land basis differences, and net operating loss carry forwards. As of March 31, 2018 , we had a federal and state deferred tax asset of $6.9 million and a valuation allowance of $6.9 million . Our deferred tax assets are reduced by an offsetting valuation allowance where there is uncertainty regarding their realizability. We believe that it is more likely than not that the results of future operations will not generate sufficient taxable income to recognize the deferred tax assets. These future operations are primarily dependent upon the profitability of our TRSs, the timing and amounts of gains on land sales, and other factors affecting the results of operations of the TRSs. If in the future we are able to conclude it is more likely than not that we will realize a future benefit from a deferred tax asset, we will reduce the related valuation allowance by the appropriate amount. The first time this occurs, it will result in a net deferred tax asset on our balance sheet and an income tax benefit of equal magnitude in our statement of operations in the period we make the determination. We recorded income tax provisions of approximately $ 18.0 thousand and $28.0 thousand for the three months ended March 31, 2018 and 2017 , respectively. Sales Taxes We collect various taxes from tenants and remit these amounts, on a net basis, to the applicable taxing authorities.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Construction Costs In connection with the development and expansion of various shopping centers as of March 31, 2018 , we had entered into agreements for construction costs of approximately $18.4 million . Litigation From time to time, we are involved in certain litigation arising in the ordinary course of business; however, we do not believe that any of this litigation will have a material effect on our consolidated financial statements. Leases Operating Leases We lease office space for our corporate headquarters under an operating lease that expires in August 2019. We also have a ground lease at Centennial Shops located in Edina, Minnesota. The ground lease includes rent escalations throughout the lease period and expires in April 2105. We recognized rent expense related to these operating leases of $0.4 million and $0.4 million for the three months ended March 31, 2018 and 2017 , respectively. Capital Lease We have a ground lease at Buttermilk Towne Center which we have recorded as a capital lease that expires in December 2032. Interest expense for this capital lease was negligible for the three months ended March 31, 2018 and 2017 , respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events We have evaluated subsequent events through the date that the condensed consolidated financial statements were issued.

Organization and Basis of Pre20

Organization and Basis of Presentations (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Organization	Organization Ramco-Gershenson Properties Trust, together with its subsidiaries (the “Company” or "RPT"), is a real estate investment trust (“REIT”) engaged in the business of owning, developing, redeveloping, acquiring, managing and leasing large multi-anchored shopping centers primarily in a number of the largest metropolitan markets in the central United States. As of March 31, 2018 , our property portfolio consisted of 56 wholly owned shopping centers comprising approximately 13.6 million square feet. We also have ownership interests of 7% , 20% , 30% and 30% , respectively, in four joint ventures. Our joint ventures are reported using equity method accounting. We earn fees from two joint ventures for managing, leasing and redeveloping the shopping centers they own. In addition, we own interests in several land parcels that are available for development or sale. Most of our properties are anchored by supermarkets and/or national chain stores. Our credit risk, therefore, is concentrated in the retail industry.
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company and our majority owned subsidiary, the Operating Partnership, Ramco-Gershenson Properties, L.P. (the "OP") ( 97.7% owned by the Company at March 31, 2018 and December 31, 2017 ), and all wholly-owned subsidiaries, including entities in which we have a controlling financial interest. We have elected to be a REIT for federal income tax purposes. All intercompany balances and transactions have been eliminated in consolidation. The information furnished is unaudited and reflects all adjustments which are, in the opinion of management, necessary to reflect a fair statement of the results for the interim periods presented, and all such adjustments are of a normal recurring nature. These condensed consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2017 . The preparation of our unaudited financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and reported amounts that are not readily apparent from other sources. Actual results could differ from those estimates.
Recently Adopted and Recent Accounting Pronouncements	In August 2016, the FASB issued ASU 2016-15 "Classification of Certain Cash Receipts and Cash Payments" ("ASU 2016-15"), which clarifies the treatment of several cash flow categories. In addition, ASU 2016-15 clarifies that when cash receipts and cash payments have aspects of more than one class of cash flows and cannot be separated, classification will depend on the predominant source or use. This update is effective for annual periods beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted, including adoption in an interim period. The adoption of this standard did not have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 is a comprehensive revenue recognition standard that superseded nearly all prior GAAP revenue recognition guidance as well as prior GAAP guidance governing the sale of non-financial assets. The standard’s core principle is that a company should recognize revenue when it satisfies performance obligations, by transferring promised goods or services to customers, in an amount that reflects the consideration to which the company expects to be entitled in exchange for fulfilling those performance obligations. In doing so, companies need to exercise more judgment and make more estimates than under prior GAAP guidance. ASU 2014-09 became effective for public entities for annual and interim reporting periods beginning after December 15, 2017 and early adoption was permitted in periods ending after December 15, 2016. The guidance permited two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect initially applying the guidance recognized at the date of initial application (modified retrospective method). We adopted the standard and the related updates subsequently issued by the FASB using the modified retrospective method on January 1, 2018. ASU 2014-09 applies only to certain revenue included in Other Property Income and Management and Other Fee Income in our Consolidated Statement of Operations which totaled $ 0.9 million , or less than 2.0% of total revenue, for the quarter ended March 31, 2018 . The adoption of the standard did not result in a cumulative adjustment recognized as of January 1, 2018. Recent Accounting Pronouncements In March 2018, the FASB issued ASU 2018-05, "Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118." These amendments add SEC guidance, among other things, to the FASB Accounting Standards Codification regarding the Tax Cuts and Jobs Act. This standard is effective for all public companies upon addition to the FASB Codification. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In March 2018, the FASB issued ASU 2018-04, "Investments-Debt Securities (Topic 320 and Regulated Operations (Topic 980): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273". These amendments supersede previous SEC guidance in the Codification in SAB Topic 5.M, Other-Than-Temporary Impairment of Certain Investments in Equity Securities and special balance sheet requirements in Regulation S-X Rule 3A-05 for Public Utility Holding Companies. This standard is effective for all public companies upon addition to the FASB Codification. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In February 2018, the FASB issued ASU 2018-03, "Technical Corrections and Improvements to Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities", that clarifies the guidance in ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10). For public business entities, ASU 2018-03 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, "Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income". These amendments provide financial statement preparers with an option to reclassify stranded tax effects within AOCI to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. This standard is effective for for fiscal years beginning after December 15, 2018 and interim periods within those financial years. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In January 2018, the FASB issued ASU 2018-01, "Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842". The standard provides an optional transition practical expedient for the adoption of ASU 2016-02 that, if elected, would not require an organization to reconsider its accounting for existing land easements that are not currently accounted for under the old leases standard. Also under this new pronouncement, non-lease components of new or modified leases, including common area maintenance reimbursements, will be accounted for under the Revenue from Contracts with Customers guidance. Additionally, only incremental direct leasing costs may be capitalized under this new guidance. This standard is effective along with ASU 2016-02, for periods after December 15, 2018. The Company expects to adopt this new guidance on January 1, 2019 and will continue to evaluate the impact of this guidance until it becomes effective. In January 2017, the FASB issued ASU 2017-04 "Simplifying the Test for Goodwill Impairment" ("ASU 2017-04"). ASU 2017-04 simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. ASU 2017-04 is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and should be applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU 2017-04 is not expected to have a material impact on our consolidated financial statements. In June 2016, the FASB updated Accounting Standards Codification ("ASC") Topic 326 "Financial Instruments - Credit Losses" with ASU 2016-13 “Measurement of Credit Losses on Financial Instruments” ("ASU 2016-13"). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. ASU 2016-13 is effective for annual periods (including interim periods within those periods) beginning after December 15, 2019. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In February 2016, the FASB updated ASC Topic 842 "Leases" ("ASU 2016-02"). ASU 2016-02 requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not direct leasing costs. ASU 2016-02 is effective for periods beginning after December 15, 2018, with early adoption permitted using a modified retrospective approach. The Company continues to evaluate the effect the adoption of ASU 2016-02 will have on our consolidated financial statements and related disclosures. However, we currently believe the adoption of ASU 2016-02 will not have a material impact for operating leases where we are a lessor and we will continue to record revenues from rental properties for operating leases on a straight-line basis. In addition, for leases where the Company is a lessee, primarily the Company’s ground lease and administrative office lease, the Company believes it will record a lease liability and a right of use asset at fair value upon adoption related to these items. Additionally, only incremental direct leasing costs may be capitalized under this new guidance. The Company expects to adopt this new guidance on January 1, 2019 and will continue to evaluate the impact of this guidance until it becomes effective. Recently Adopted Accounting Pronouncements In February 2017, the FASB issued ASU 2017-05 "Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets" ("ASU 2017-05"). ASU 2017-05 clarifies that a financial asset is within the scope of Subtopic 610-20 if it meets the definition of an in substance nonfinancial asset. ASU 2017-05 also defines the term "in substance nonfinancial asset". In addition, ASU 2017-05 eliminates the guidance specific to real estate sales in ASC 360-20. It is effective for annual periods beginning after December 15, 2017, therefore we adopted the standard on January 1, 2018. In doing so, the Company recorded an adjustment under the modified retrospective method of approximately $2.2 million to shareholders' equity associated with a transaction that occurred in the fourth quarter of 2017. The adjustment had no impact on earnings or cash flows. In May 2017, the FASB issued ASU 2017-09 "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" ("ASU 2017-09"). ASU 2017-09 clarifies guidance about what changes to the terms and conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. It is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements. In November 2016, the FASB issued ASU 2016-18 "Statement of Cash Flows." This new guidance is effective January 1, 2018, with early adoption permitted, and requires amounts that are generally described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The pronouncement requires a retrospective transition method of adoption. The adoption of this standard resulted in the reclassification of approximately $26.1 million of proceeds from real estate dispositions during the three months ended March 31, 2017 that were held in escrow as restricted cash.
Restricted Cash	Restricted cash generally consists of funds held in escrow by lenders to pay real estate taxes, insurance premiums and certain capital expenditures. In limited instances, restricted cash may include deposits on potential future acquisitions and/or proceeds related to dispositions of real estate.

Organization and Basis of Pre21

Organization and Basis of Presentations (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balances sheets that reconciles to the total shown within the consolidated statements of cash flows. As of March 31, 2018 2017 Cash and cash equivalents $ 10,315 $ 4,486 Restricted cash and escrows 5,214 31,785 $ 15,529 $ 36,271
Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balances sheets that reconciles to the total shown within the consolidated statements of cash flows. As of March 31, 2018 2017 Cash and cash equivalents $ 10,315 $ 4,486 Restricted cash and escrows 5,214 31,785 $ 15,529 $ 36,271

Property Acquisitions and Dis22

Property Acquisitions and Dispositions (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Schedule of Acquisitions	The following table provides a summary of our acquisition activity for the three months ended March 31, 2018 : Gross Property Name Location GLA (in thousands) Acreage Date Purchase Assumed (In thousands) Leasehold Interest (West Oaks) Novi, MI 60 N/A 01/05/18 $ 6,365 $ — Total consolidated income producing acquisitions 60 — $ 6,365 $ — Total Acquisitions 60 — $ 6,365 $ —
Summary of Total Aggregate Fair Value of Acquisitions Allocated	The aggregate fair value of our 2018 acquisition through March 31, 2018 , was allocated and is reflected in the following table. Allocated Fair Value (In thousands) Buildings and improvements $ 6,427 Above market leases 237 Lease origination costs 633 Other liabilities (353 ) Below market leases (579 ) Total purchase price allocated $ 6,365
Pro Forma Information	Total revenue and net income for the 2018 acquisition included in our condensed consolidated statement of operations for the three months ended March 31, 2018 were as follows: Three Months Ended March 31, 2018 (In thousands) Total revenue from 2018 acquisition $ 188 Net income from 2018 acquisition $ 188 If the 2018 acquisition had occurred on January 1, 2017, our consolidated revenues and net income for the three months ended March 31, 2018 and 2017 would have been as follows: Three Months Ended March 31, 2018 2017 (In thousands) Consolidated revenue $ 62,726 $ 68,021 Consolidated net income available to common shareholders $ 5,619 $ 11,619

Equity Investments in Unconso23

Equity Investments in Unconsolidated Joint Ventures (Tables)	3 Months Ended
	Mar. 31, 2018
Equity Method Investments and Joint Ventures [Abstract]
Summary of Combined Financial Information for Unconsolidated Joint Ventures, Balance Sheets	The combined condensed financial information for our unconsolidated joint ventures is summarized as follows: Balance Sheets March 31, 2018 December 31, 2017 (In thousands) ASSETS Investment in real estate, net $ 93,290 $ 93,801 Other assets 3,810 4,099 Total Assets $ 97,100 $ 97,900 LIABILITIES AND OWNERS' EQUITY Mortgage notes payable $ 41,805 $ 42,330 Other liabilities $ 376 $ 220 Owners' equity 54,919 55,350 Total Liabilities and Owners' Equity $ 97,100 $ 97,900 RPT's equity investments in unconsolidated joint ventures $ 5,494 $ 3,493
Summary of Combined Financial Information for Unconsolidated Entities, Statements of Operations	Three Months Ended March 31, Statements of Operations 2018 2017 (In thousands) Total revenue $ 1,187 $ 1,163 Total expenses 748 708 Net income $ 439 $ 455 RPT's share of earnings from unconsolidated joint ventures $ 71 $ 86
Information of Fees Earned	The following table provides information for our fees earned which are reported in our condensed consolidated statements of operations: Three Months Ended March 31, 2018 2017 (In thousands) Management fees $ 46 $ 74 Leasing fees 40 79 Total $ 86 $ 153

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Summary of Mortgages, Notes Payable and Capital Lease Obligation	The following table summarizes our mortgages and notes payable and capital lease obligation as of March 31, 2018 and December 31, 2017 : Notes Payable and Capital Lease Obligation March 31, December 31, (In thousands) Senior unsecured notes $ 610,000 $ 610,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 120,302 120,944 Unsecured revolving credit facility 55,000 30,000 Junior subordinated notes 28,125 28,125 1,023,427 999,069 Unamortized premium 3,707 3,967 Unamortized deferred financing costs (3,646 ) (3,821 ) Total notes payable $ 1,023,488 $ 999,215 Capital lease obligation $ 1,022 $ 1,022
Scheduled Principal Payments on Mortgages and Notes Payable	The following table presents scheduled principal payments on mortgages and notes payable as of March 31, 2018 : Year Ending December 31, (In thousands) 2018 $ 1,920 2019 5,859 2020 102,269 2021 (1) 169,508 2022 77,397 Thereafter 666,474 Subtotal debt 1,023,427 Unamortized premium 3,707 Unamortized deferred financing costs (3,646 ) Total debt $ 1,023,488 (1) Scheduled maturities in 2021 include the $55.0 million balance on the unsecured revolving credit facility drawn as of March 31, 2018 . The unsecured revolving credit facility has two six -month extensions available at the Company's option provided compliance with financial covenants is maintained.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents the recorded amount of assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017. Total Balance Sheet Location Fair Value Level 2 March 31, 2018 (In thousands) Derivative assets - interest rate swaps Other assets $ 5,377 $ 5,377 Derivative liabilities - interest rate swaps Other liabilities $ (10 ) $ (10 ) December 31, 2017 Derivative assets - interest rate swaps Other assets $ 3,133 $ 3,133 Derivative liabilities - interest rate swaps Other liabilities $ (208 ) $ (208 )

Derivative Financial Instrume26

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Notional Values and Fair Values of Derivative Financial Instruments	The following table summarizes the notional values and fair values of our derivative financial instruments as of March 31, 2018 : Hedge Notional Fixed Fair Expiration Underlying Debt Type Value Rate Value Date (In thousands) (In thousands) Derivative Assets Unsecured term loan Cash Flow $ 25,000 1.850 % $ 17 10/2018 Unsecured term loan Cash Flow 5,000 1.840 % 4 10/2018 Unsecured term loan Cash Flow 15,000 2.150 % 64 05/2020 Unsecured term loan Cash Flow 10,000 2.150 % 43 05/2020 Unsecured term loan Cash Flow 50,000 1.460 % 942 05/2020 Unsecured term loan Cash Flow 20,000 1.498 % 588 05/2021 Unsecured term loan Cash Flow 15,000 1.490 % 445 05/2021 Unsecured term loan Cash Flow 40,000 1.480 % 1,200 05/2021 $ 180,000 $ 3,303 Derivative Assets - Forward Swaps Unsecured term loan Cash Flow 60,000 1.770 % 2,074 03/2023 Total Derivative Assets $ 240,000 $ 5,377 Derivative Liabilities Unsecured term loan Cash Flow $ 30,000 2.048 % $ (10 ) 10/2018 Total Derivative Liabilities $ 30,000 $ (10 )
Summary of Effect of Derivative Financial Instruments on Condensed Consolidated Statements of Operations	The effect of derivative financial instruments on our condensed consolidated statements of operations for the three months ended March 31, 2018 and 2017 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion) Derivatives in Cash Flow Hedging Relationship Three Months Ended March 31, Three Months Ended March 31, 2018 2017 2018 2017 (In thousands) (In thousands) Interest rate contracts - assets $ 2,278 $ 522 Interest Expense $ (33 ) $ (154 ) Interest rate contracts - liabilities 277 648 Interest Expense (80 ) (293 ) Total $ 2,555 $ 1,170 Total $ (113 ) $ (447 )

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share (“EPS”): Three Months Ended March 31, 2018 2017 (In thousands, except per share data) Net income $ 7,460 $ 13,414 Net income attributable to noncontrolling interest (174 ) (316 ) Allocation of income to restricted share awards (108 ) (94 ) Income attributable to RPT 7,178 13,004 Preferred share dividends (1,675 ) (1,675 ) Net income available to common shareholders 5,503 11,329 Net income available to common shareholders - Diluted $ 5,503 $ 11,329 Weighted average shares outstanding, Basic 79,423 79,299 Restricted stock awards using the treasury method 147 182 Weighted average shares outstanding, Diluted 79,570 79,481 Income per common share, Basic $ 0.07 $ 0.14 Income per common share, Diluted $ 0.07 $ 0.14
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the outstanding securities that were excluded from the computation of diluted earnings per share and the number of common shares each was convertible into (in thousands): Three Months Ended March 31, 2018 2017 Issued Converted Issued Converted Operating Partnership Units 1,916 1,916 1,917 1,917 Series D Preferred Shares 1,849 6,772 1,849 6,657 Performance Share Units 196 — 104 — 3,961 8,688 3,870 8,574

Organization and Basis of Pre28

Organization and Basis of Presentations - Additional Information (Detail) $ in Thousands, ft² in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)joint_venture	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2018property	Mar. 31, 2018partnership_unit	Mar. 31, 2018ft²	Mar. 31, 2018	Dec. 31, 2016USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Area of real estate property (in sq feet) | ft²						13.6
Number of joint ventures	4				4
Number of joint ventures for which fees are earned | joint_venture	2
Ownership interest in Ramco-Gershenson Properties, L. P.	97.70%		97.70%
Cumulative effect adjustment - ASU adoption			$ 2,160					$ 0
Net proceeds from sales of real estate	$ 0	$ 27,422
Shopping Centers
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of real estate properties owned and managed | property				56
Joint Venture One
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Ownership interest							7.00%
Joint Venture Two
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Ownership interest							20.00%
Joint Venture Three
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Ownership interest							30.00%
Joint Venture Four
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Ownership interest							30.00%
Accounting Standards Update 2016-18
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net proceeds from sales of real estate		26,100
Proceeds from dispositions held in escrow (non-cash investing activity)		$ (26,100)
Retained Earnings | Accounting Standards Update 2017-05
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cumulative effect adjustment - ASU adoption			$ 2,200
Other Property Income and Management and Other Fee Income
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenue	$ 900
Percentage of revenue	2.00%

Organization and Basis of Pre29

Organization and Basis of Presentations - Reconciliation of Cash, Cash Equivalents and Restriced Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cash and cash equivalents	$ 10,315	$ 8,081	$ 4,486
Restricted cash and escrows	5,214	4,810	31,785
Cash, cash equivalents, and restricted cash	$ 15,529	$ 12,891	$ 36,271	$ 14,726

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)propertyland	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Real Estate [Abstract]
Provision for impairment	$ 0	$ 5,717
Land held for development or sale	32,300		$ 31,600
Constructions in progress	$ 38,900		$ 26,600
Number of properties, held-for-sale | property	0
Number of land parcel, held-for-sale | land	0

Property Acquisitions and Dis31

Property Acquisitions and Dispositions - Property Acquisitions (Details) ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)aft²
Income Producing Property Acquisitions
Business Acquisition [Line Items]
GLA (in sq ft) | ft²	60
Purchase Price	$ 6,365
Assumed Debt	$ 0
Income Producing Property and Land and Outparcel Acquisition
Business Acquisition [Line Items]
GLA (in sq ft) | ft²	60
Acreage (in acres) | a	0
Purchase Price	$ 6,365
Assumed Debt	$ 0
Leasehold Interest (West Oaks) | Income Producing Property Acquisitions
Business Acquisition [Line Items]
Location	Novi, MI
GLA (in sq ft) | ft²	60
Date Acquired	Jan. 5, 2018
Purchase Price	$ 6,365
Assumed Debt	$ 0

Property Acquisitions and Dis32

Property Acquisitions and Dispositions - Total Aggregate Fair Value of Acquisitions Allocated (Details) $ in Thousands	Mar. 31, 2018USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Buildings and improvements	$ 6,427
Lease origination costs	633
Other liabilities	(353)
Below market leases	(579)
Total purchase price allocated	6,365
Above Market Leases
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Above market leases	$ 237

Property Acquisitions and Dis33

Property Acquisitions and Dispositions - Revenue and Net Income for Acquisitions (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Business Combinations [Abstract]
Total revenue from 2018 acquisition	$ 188
Net income from 2018 acquisition	$ 188

Property Acquisitions and Dis34

Property Acquisitions and Dispositions - Unaudited Pro Forma Information (Details) - Income Producing Property Acquisitions - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Consolidated revenue	$ 62,726	$ 68,021
Consolidated net income available to common shareholders	$ 5,619	$ 11,619

Equity Investments in Unconso35

Equity Investments in Unconsolidated Joint Ventures - Additional Information (Detail) $ in Millions	1 Months Ended
	Nov. 30, 2017USD ($)	Mar. 31, 2018joint_venture	Mar. 31, 2018partnership_unit	Mar. 31, 2018
Schedule of Equity Method Investments [Line Items]
Number of joint ventures		4	4
Joint Venture One
Schedule of Equity Method Investments [Line Items]
Ownership interest				7.00%
Joint Venture Two
Schedule of Equity Method Investments [Line Items]
Ownership interest				20.00%
Joint Venture Three
Schedule of Equity Method Investments [Line Items]
Ownership interest				30.00%
Joint Venture Four
Schedule of Equity Method Investments [Line Items]
Ownership interest				30.00%
Carrying value of equity investments	$ 3

Equity Investments in Unconso36

Equity Investments in Unconsolidated Joint Ventures - Summary of Combined Financial Information of Unconsolidated Entities, Balance Sheets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Investment in real estate, net	$ 93,290	$ 93,801
Other assets	3,810	4,099
Total Assets	97,100	97,900
LIABILITIES AND OWNERS' EQUITY
Mortgage notes payable	41,805	42,330
Other liabilities	376	220
Owners' equity	54,919	55,350
Total Liabilities and Owners' Equity	97,100	97,900
RPT's equity investments in unconsolidated joint ventures	$ 5,494	$ 3,493

Equity Investments in Unconso37

Equity Investments in Unconsolidated Joint Ventures - Summary of Combined Financial Information of Unconsolidated Entities, Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Total revenue	$ 1,187	$ 1,163
Total expenses	748	708
Net income	439	455
RPT's share of earnings from unconsolidated joint ventures	$ 71	$ 86

Equity Investments in Unconso38

Equity Investments in Unconsolidated Joint Ventures - Information of Fees Earned (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]
Management fees	$ 46	$ 74
Leasing fees	40	79
Total	$ 86	$ 153

Debt - Summary of Mortgages, No

Debt - Summary of Mortgages, Notes Payable and Capital Lease Obligation (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Senior unsecured notes	$ 610,000	$ 610,000
Unsecured term loan facilities	210,000	210,000
Fixed rate mortgages	120,302	120,944
Unsecured revolving credit facility	55,000	30,000
Junior subordinated notes	28,125	28,125
Subtotal debt	1,023,427	999,069
Unamortized premium	3,707	3,967
Unamortized deferred financing costs	(3,646)	(3,821)
Total debt	1,023,488	999,215
Capital lease obligation	$ 1,022	$ 1,022

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Debt Instrument [Line Items]
Senior unsecured notes and unsecured term loans	$ 1,023,427,000		$ 999,069,000
Mortgages payable	120,302,000		120,944,000
Revolving credit facility, outstanding balance	55,000,000		$ 30,000,000
Increase of revolving credit facility	25,000,000	$ 178,000,000
Fixed Rate Mortgages
Debt Instrument [Line Items]
Mortgages payable	120,300,000
Net book value of mortgage on properties	190,300,000
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, outstanding balance	55,000,000
Increase of revolving credit facility	25,000,000
Letter of credit, outstanding balance	700,000
Letter of credit, remaining borrowing capacity	$ 294,300,000
Line of credit facility, interest rate	3.01%
Minimum | Fixed Rate Mortgages
Debt Instrument [Line Items]
Mortgage debt interest rate	3.76%
Maximum | Fixed Rate Mortgages
Debt Instrument [Line Items]
Mortgage debt interest rate	7.38%
London Interbank Offered Rate (LIBOR) | Junior Subordinated Debt
Debt Instrument [Line Items]
Basis spread on variable rate	3.30%
Senior Unsecured Notes and Unsecured Term Loans | Unsecured Debt
Debt Instrument [Line Items]
Senior unsecured notes and unsecured term loans	$ 820,000,000
Senior Unsecured Notes and Unsecured Term Loans | Minimum | Unsecured Debt
Debt Instrument [Line Items]
Mortgage debt interest rate	2.79%
Senior Unsecured Notes and Unsecured Term Loans | Maximum | Unsecured Debt
Debt Instrument [Line Items]
Mortgage debt interest rate	4.74%

Debt - Scheduled Principal Paym

Debt - Scheduled Principal Payments on Mortgages and Notes Payable (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)extension_option	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
2,018	$ 1,920
2,019	5,859
2,020	102,269
2,021	169,508
2,022	77,397
Thereafter	666,474
Subtotal debt	1,023,427	$ 999,069
Unamortized premium	3,707	3,967
Unamortized deferred financing costs	(3,646)	(3,821)
Total debt	1,023,488	$ 999,215
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
2,020	$ 55,000
Number of extension options | extension_option	2
Extension option, period (in months)	6 months

Fair Value - Recorded Amount of

Fair Value - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative assets - interest rate swaps	$ 5,377	$ 3,133
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	(10)	(208)
Level 2 | Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative assets - interest rate swaps	5,377	3,133
Level 2 | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	$ (10)	$ (208)

Fair Value - Additional Inform

Fair Value - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, carrying amount	$ 1,023,488	$ 999,215
Fixed Rate Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, carrying amount	940,300	940,900
Level 2 | Fixed Rate Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	931,600	940,800
Level 2 | Floating Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	$ 83,100	$ 58,100

Derivative Financial Instrume44

Derivative Financial Instruments - Summary of Notional Values and Fair Values of Derivative Financial Instruments (Detail) - Cash Flow Hedging - Designated as Hedging Instrument	Mar. 31, 2018USD ($)
Derivative [Line Items]
Derivative asset, notional amount	$ 240,000,000
Derivative liability, notional amount	30,000,000
Derivative assets, at fair value	5,377,000
Derivative liability, at fair value	(10,000)
Unsecured term loan facility with: 1.850 % Swap Rate, Expiration Date 10/2018
Derivative [Line Items]
Derivative asset, notional amount	$ 25,000,000
Fixed rate (as a percent)	1.85%
Derivative assets, at fair value	$ 17,000
Unsecured term loan facility with: 1.840 % Swap Rate, Expiration Date 10/2018
Derivative [Line Items]
Derivative asset, notional amount	$ 5,000,000
Fixed rate (as a percent)	1.84%
Derivative assets, at fair value	$ 4,000
Unsecured term loan facility with: 2.150 % Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Derivative asset, notional amount	$ 15,000,000
Fixed rate (as a percent)	2.15%
Derivative assets, at fair value	$ 64,000
Unsecured term loan facility with: 2.150 % Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Derivative asset, notional amount	$ 10,000,000
Fixed rate (as a percent)	2.15%
Derivative assets, at fair value	$ 43,000
Unsecured term loan facility with: 1.460 % Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Derivative asset, notional amount	$ 50,000,000
Fixed rate (as a percent)	1.46%
Derivative assets, at fair value	$ 942,000
Unsecured term loan facility with: 1.498 % Swap Rate, Expiration Date 05/2021
Derivative [Line Items]
Derivative asset, notional amount	$ 20,000,000
Fixed rate (as a percent)	1.498%
Derivative assets, at fair value	$ 588,000
Unsecured term loan facility with: 1.490 % Swap Rate, Expiration Date 05/2021
Derivative [Line Items]
Derivative asset, notional amount	$ 15,000,000
Fixed rate (as a percent)	1.49%
Derivative assets, at fair value	$ 445,000
Unsecured term loan facility with: 1.480 % Swap Rate, Expiration Date 05/2021
Derivative [Line Items]
Derivative asset, notional amount	$ 40,000,000
Fixed rate (as a percent)	1.48%
Derivative assets, at fair value	$ 1,200,000
Interest Rate Swap
Derivative [Line Items]
Derivative asset, notional amount	180,000,000
Derivative assets, at fair value	3,303,000
Unsecured term loan facility with: 1.770 % Swap Rate, Expiration Date 03/2023
Derivative [Line Items]
Derivative asset, notional amount	$ 60,000,000
Fixed rate (as a percent)	1.77%
Derivative assets, at fair value	$ 2,074,000
Unsecured term loan facility with: 2.048 % Swap Rate, Expiration Date 10/2018
Derivative [Line Items]
Derivative liability, notional amount	$ 30,000,000
Fixed rate (as a percent)	2.048%
Derivative liability, at fair value	$ (10,000)

Derivative Financial Instrume45

Derivative Financial Instruments - Summary of Effect of Derivative Financial Instruments on Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 2,555	$ 1,170
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	(113)	(447)
Derivative Assets
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	2,278	522
Derivative Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	277	648
Interest Expense | Derivative Assets | Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	(33)	(154)
Interest Expense | Derivative Liabilities | Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Gain (Loss) from Cash Flow Hedges Including Portion Attributable to Noncontrolling Interest
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	$ (80)	$ (293)

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of Basic Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income	$ 7,460	$ 13,414
Net income attributable to noncontrolling interest	(174)	(316)
Allocation of income to restricted share awards	(108)	(94)
Income attributable to RPT	7,178	13,004
Preferred share dividends	(1,675)	(1,675)
Net income available to common shareholders	5,503	11,329
Net income available to common shareholders - Diluted	$ 5,503	$ 11,329
Weighted average shares outstanding, Basic	79,423	79,299
Restricted stock awards using the treasury method (in shares)	147	182
Weighted average shares outstanding, Diluted	79,570	79,481
Income per common share, Basic (in usd per share)	$ 0.07	$ 0.14
Income per common share, Diluted (in usd per share)	$ 0.07	$ 0.14

Earnings Per Common Share - Ant

Earnings Per Common Share - Antidilutive (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	3,961	3,870
Converted (in shares)	8,688	8,574
Operating Partnership Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	1,916	1,917
Converted (in shares)	1,916	1,917
Series D Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	1,849	1,849
Converted (in shares)	6,772	6,657
Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	196	104
Converted (in shares)	0	0

Share-based Compensation Plans

Share-based Compensation Plans - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018USD ($)planshares	Mar. 31, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans in effect | plan	1
Number of shares terminated | shares	503,534
Performance-based liability awards, measurement period (in years)	3 years
Share-based compensation expenses	$ 800,000	$ 500,000
Compensation expense (benefit) related to cash awards	(23,000)	(100,000)
Total unrecognized compensation expense	$ 6,500,000
Total unrecognized compensation expense, weighted average period of recognition	3 years 2 months 12 days
Long-Term Incentive Plan ("LTIP")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant | shares	2,000,000
Number of shares available for issuance | shares	1,000,000
Service-based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, shares granted | shares	213,611
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses	$ 700,000	600,000
Equity Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses	$ 100,000	$ 0
Employee | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)	5 years
Trustee | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)	1 year

Taxes - Additional Information

Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Tax Credit Carryforward [Line Items]
Annual distribution of REIT taxable income (as a percent)	90.00%
Income tax provision (benefit)	$ 18	$ 28
Federal and State Income Taxes
Tax Credit Carryforward [Line Items]
Federal and state deferred tax asset	6,900
Federal and state deferred tax asset, valuation allowance	$ 6,900

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Construction costs related to development and expansion	$ 18.4
Operating leases, rent expense	$ 0.4	$ 0.4