RPT Realty (KIM+N) 10-Q 1 Nov 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2018	Oct. 26, 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
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	RPT
Entity Common Stock, Shares Outstanding		80,153,381

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Income producing properties, at cost:
Land	$ 397,344	$ 397,935
Buildings and improvements	1,785,555	1,732,844
Less accumulated depreciation and amortization	(393,636)	(351,632)
Income producing properties, net	1,789,263	1,779,147
Construction in progress and land available for development or sale	59,692	58,243
Net real estate	1,848,955	1,837,390
Equity investments in unconsolidated joint ventures	1,556	3,493
Cash and cash equivalents	16,719	8,081
Restricted cash and escrows	3,017	4,810
Accounts receivable (net of allowance for doubtful accounts of $937 and $1,374 as of September 30, 2018 and December 31, 2017, respectively)	25,622	26,145
Acquired lease intangibles, net	47,676	59,559
Other assets, net	99,958	90,916
TOTAL ASSETS	2,043,503	2,030,394
LIABILITIES AND SHAREHOLDERS' EQUITY
Notes payable, net	1,047,113	999,215
Capital lease obligation	1,022	1,022
Accounts payable and accrued expenses	59,433	56,750
Acquired lease intangibles, net	50,770	60,197
Other liabilities	8,494	8,375
Distributions payable	19,725	19,666
TOTAL LIABILITIES	1,186,557	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 September 30, 2018 and December 31, 2017, respectively	92,427	92,427
Common shares of beneficial interest, $0.01 par, 120,000 shares authorized, 79,719 and 79,366 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively	797	794
Additional paid-in capital	1,163,683	1,160,862
Accumulated distributions in excess of net income	(426,727)	(392,619)
Accumulated other comprehensive income	6,606	2,858
TOTAL SHAREHOLDERS' EQUITY ATTRIBUTABLE TO RPT	836,786	864,322
Noncontrolling interest	20,160	20,847
TOTAL SHAREHOLDERS' EQUITY	856,946	885,169
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,043,503	$ 2,030,394

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Accounts receivable, allowance for doubtful accounts	$ 937	$ 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)	79,719,000	79,366,000
Common shares of beneficial interest, outstanding (in shares)	79,719,000	79,366,000
Series D Cumulative Convertible Perpetual 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	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
REVENUE
TOTAL REVENUE	$ 64,217,000	$ 65,931,000	$ 196,902,000	$ 200,819,000
EXPENSES
Real estate taxes	11,037,000	10,948,000	31,796,000	32,670,000
Recoverable operating expense	6,301,000	6,660,000	19,248,000	20,699,000
Non-recoverable operating expense	1,358,000	1,039,000	3,470,000	3,430,000
Depreciation and amortization	21,150,000	23,130,000	65,719,000	69,282,000
Acquisition costs	0	0	233,000	0
General and administrative expense	8,131,000	5,738,000	27,396,000	18,561,000
Provision for impairment	0	1,885,000	216,000	8,423,000
TOTAL EXPENSES	47,977,000	49,400,000	148,078,000	153,065,000
OPERATING INCOME	16,240,000	16,531,000	48,824,000	47,754,000
OTHER INCOME AND EXPENSES
Other (expense) income, net	(240,000)	123,000	(55,000)	(612,000)
Gain on sale of real estate	0	24,545,000	181,000	35,920,000
Earnings from unconsolidated joint ventures	297,000	81,000	570,000	223,000
Interest expense	(11,045,000)	(11,586,000)	(32,354,000)	(33,871,000)
Other gain on unconsolidated joint ventures	5,208,000	0	5,208,000	0
INCOME BEFORE TAX	10,460,000	29,694,000	22,374,000	49,414,000
Income tax provision	(96,000)	(65,000)	(147,000)	(119,000)
NET INCOME	10,364,000	29,629,000	22,227,000	49,295,000
Net income attributable to noncontrolling partner interest	(239,000)	(696,000)	(514,000)	(1,158,000)
NET INCOME ATTRIBUTABLE TO RPT	10,125,000	28,933,000	21,713,000	48,137,000
Preferred share dividends	(1,676,000)	(1,675,000)	(5,026,000)	(5,026,000)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 8,449,000	$ 27,258,000	$ 16,687,000	$ 43,111,000
EARNINGS PER COMMON SHARE
Basic (in usd per share)	$ 0.10	$ 0.34	$ 0.21	$ 0.54
Diluted (in usd per share)	$ 0.10	$ 0.33	$ 0.20	$ 0.54
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	79,712	79,381	79,547	79,337
Diluted (in shares)	80,450	86,259	79,939	79,514
Cash Dividend Declared per Common Share (in usd per share)	$ 0.22	$ 0.22	$ 0.66	$ 0.66
OTHER COMPREHENSIVE INCOME
Net income	$ 10,364,000	$ 29,629,000	$ 22,227,000	$ 49,295,000
Other comprehensive gain:
Gain on interest rate swaps	474,000	196,000	3,838,000	287,000
Comprehensive income	10,838,000	29,825,000	26,065,000	49,582,000
Comprehensive income attributable to noncontrolling interest	(250,000)	(701,000)	(604,000)	(1,164,000)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RPT	10,588,000	29,124,000	25,461,000	48,418,000
Minimum rent
REVENUE
TOTAL REVENUE	47,851,000	49,736,000	147,282,000	149,970,000
Percentage rent
REVENUE
TOTAL REVENUE	120,000	106,000	545,000	570,000
Recovery income from tenants
REVENUE
TOTAL REVENUE	15,161,000	14,923,000	45,995,000	46,655,000
Other property income
REVENUE
TOTAL REVENUE	997,000	1,078,000	2,858,000	3,310,000
Management and other fee income
REVENUE
TOTAL REVENUE	$ 88,000	$ 88,000	$ 222,000	$ 314,000

Condensed Consolidated Statem_2

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]
Issuance of common shares, net of issuance costs	(39)			(39)
Redemption of OP unit holders	(97)				(18)		(79)
Share-based compensation and other expense, net of shares withheld for employee taxes	2,863		3	2,860
Dividends declared to common shareholders	(52,519)				(52,519)
Dividends declared to preferred shareholders	(5,026)				(5,026)
Distributions declared to noncontrolling interests	(1,263)						(1,263)
Dividends declared to deferred shares	(367)				(367)
Other comprehensive income adjustment	3,838					3,748	90
Net income	22,227				21,713		514
Ending balance at Sep. 30, 2018	$ 856,946	$ 92,427	$ 797	$ 1,163,683	$ (426,727)	$ 6,606	$ 20,160

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Payments to Acquire Interest in Joint Venture	$ 3,000,000	$ 0
OPERATING ACTIVITIES
Net income	22,227,000	49,295,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	65,719,000	69,282,000
Amortization of deferred financing fees	1,140,000	1,040,000
Income tax provision	147,000	119,000
Earnings from unconsolidated joint ventures	(570,000)	(223,000)
Distributions received from operations of unconsolidated joint ventures	546,000	613,000
Provision for impairment	216,000	8,423,000
Other gain on unconsolidated joint ventures	5,208,000	0
Gain on sale of real estate	(181,000)	(35,920,000)
Amortization of premium on mortgages, net	(772,000)	(870,000)
Service-based restricted share expense	3,980,000	1,970,000
Long-term incentive cash and equity compensation expense	1,346,000	251,000
Changes in assets and liabilities:
Accounts receivable, net	523,000	(1,441,000)
Acquired lease intangibles and other assets, net	(1,786,000)	(480,000)
Accounts payable, acquired lease intangibles and other liabilities	(7,509,000)	(3,201,000)
Net cash provided by operating activities	79,818,000	88,858,000
INVESTING ACTIVITIES
Acquisition of real estate	(6,365,000)	(169,882,000)
Development and capital improvements	(64,335,000)	(43,966,000)
Net proceeds from sales of real estate	1,354,000	121,419,000
Distributions from sale of joint venture property	6,308,000	0
Net cash used in investing activities	(60,038,000)	(92,429,000)
FINANCING ACTIVITIES
Repayments of mortgages and notes payable	(1,902,000)	(2,381,000)
Proceeds on revolving credit facility	65,000,000	224,000,000
Repayments on revolving credit facility	(15,000,000)	(161,000,000)
Payment of deferred financing costs	0	2,263,000
Proceeds, net of costs, from issuance of common stock	(39,000)	(24,000)
Redemption of operating partnership units for cash	(97,000)	(8,000)
Shares used for employee taxes upon vesting of awards	(1,781,000)	(497,000)
Dividends paid to preferred shareholders	(5,026,000)	(5,026,000)
Dividends paid to common shareholders and deferred shares	(52,827,000)	(52,653,000)
Distributions paid to operating partnership unit holders	(1,263,000)	(1,266,000)
Net cash used in financing activities	(12,935,000)	(1,118,000)
Net change in cash, cash equivalents and restricted cash	6,845,000	(4,689,000)
Cash, cash equivalents and restricted cash at beginning of period	12,891,000	14,726,000
Cash, cash equivalents and restricted cash at end of period	19,736,000	10,037,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest (net of capitalized interest of $706 and $193 in 2018 and 2017, respectively)	27,986,000	29,698,000
Deferred gain recognized in equity	$ 2,160,000	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Statement of Cash Flows [Abstract]
Cash paid for interest, capitalized interest	$ 706	$ 193

Organization and Basis of Prese

Organization and Basis of Presentations	9 Months Ended
	Sep. 30, 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"), owns and operates a national portfolio of dynamic open-air shopping destinations principally located in the top U.S. markets. The Company's locally-curated consumer experience reflect the lifestyles of its diverse neighborhoods and match the modern expectation of its retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange under the ticker symbol RPT. As of September 30, 2018 , the Company's portfolio consisted of 57 shopping centers (including one shopping center owned through a joint venture) representing 13.8 million square feet. As of September 30, 2018 , the Company’s aggregate portfolio was 94.2% leased. 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 September 30, 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 became 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 became 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 became 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 $4.0 million of cash outflows from real estate acquisitions during the nine months ended September 30, 2018 that were held in escrow as restricted cash. The amount was reclassified as acquisition 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 September 30, 2018 2017 (In thousands) Cash and cash equivalents $ 16,719 $ 4,781 Restricted cash and escrows 3,017 5,256 $ 19,736 $ 10,037 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 became 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 permitted 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 $ 3.1 million , or less than 2.0% of total revenue, for the nine months ended September 30, 2018 . The adoption of the standard did not result in a cumulative adjustment recognized as of January 1, 2018. Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-13, "Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement", which amends ASC 820, Fair Value Measurement. ASU 2018-13 modified the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. This standard is effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, "Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting", which expands the scope of Topic 718, Compensation-Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. This standard is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The adoption of ASU 2018-07 is not expected to have a material impact on our consolidated financial statements. 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 beginning after December 15, 2019, including interim periods within that fiscal year. 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. In addition, the following ASUs were subsequently issued related to ASC Topic 842, all of which will be effective with ASU 2016-02: • 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. • In July 2018, the FASB issued ASU 2018-10, "Codification Improvements to Topic 842, Leases", which affects narrow aspects of the guidance issued in the amendments in ASU 2016-02. • In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements", which provide lessors with a practical expedient, by class of underlying asset, to not separate nonlease components from the associated lease component and, instead, to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue guidance (Topic 606) and certain criteria are met. The guidance also provides an optional transition method which would allow entities to initially apply the new guidance in the period of adoption, recognizing a cumulative-effect adjustment to the opening balance of retained earnings, if necessary. 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. We preliminarily plan to elect the practical expedients allowable under ASU 2018-01 and ASU 2018-11, and 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 leases, 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	9 Months Ended
	Sep. 30, 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 September 30, 2018 , we recorded no impairment provision. For the nine months ended September 30, 2018 , we recorded an impairment provision totaling $0.2 million on a land parcel. The 2018 adjustment was triggered by higher costs related to this parcel. 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. For the three and nine months ended September 30, 2017 , we recorded an impairment provision totaling $1.9 million and $8.4 million , respectively, on shopping centers classified as income producing. In accordance with ASC360-10, the Company records impairment losses on long-lived assets used in operations when events and circumstances indicate that long-lived assets might be impaired and the undiscounted cash flows estimated to be generated by those assets are less than the carrying amounts of those assets. During the third quarter of 2018, events and circumstances indicated that shopping centers might be impaired. However, the Company’s estimates of undiscounted cash flows indicated that such carrying amounts were expected to be recovered. Nonetheless, it is reasonably possible that the estimates of undiscounted cash flows may change in the near term resulting in the need to write down these assets to fair value. 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 $31.8 million and $31.6 million at September 30, 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 $27.9 million and $26.6 million at September 30, 2018 and December 31, 2017 , respectively. The increase in construction in progress from December 31, 2017 to September 30, 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 September 30, 2018 , and December 31, 2017 , we had no properties and no land parcels classified as held for sale.

Property Acquisitions and Dispo

Property Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2018 : Gross Property Name Location GLA Acreage Date Purchase Assumed (in thousands) (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 September 30, 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 and six months ended September 30, 2018 were as follows: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 (In thousands) Total revenue from 2018 acquisition $ 196 $ 584 Net income from 2018 acquisition $ 128 $ 372 Unaudited Proforma Information If the 2018 acquisition had occurred on January 1, 2017 , our consolidated revenues and net income for the three and nine months ended September 30, 2018 and 2017 would have been as follows: Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (In thousands) Consolidated revenue $ 64,217 $ 66,102 $ 196,910 $ 201,321 Consolidated net income available to common shareholders $ 8,450 $ 27,358 $ 16,691 $ 43,401 Dispositions The following table provides a summary of our disposition activity for the nine months ended September 30, 2018 . Gross Property Name Location GLA Acreage Date Sales Price Gain on Sale (In thousands) Theatre Parcel - Hartland Town Square Hartland, MI N/A 7.5 04/02/18 $ 1,450 $ 181 Peachtree Hills - Outparcel Duluth, GA N/A 1.7 05/25/18 $ 650 $ — Total outparcel dispositions — 9.2 $ 2,100 $ 181 Total Dispositions — 9.2 $ 2,100 $ 181

Equity Investments in Unconsoli

Equity Investments in Unconsolidated Joint Ventures	9 Months Ended
	Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments in Unconsolidated Joint Ventures	Equity Investments in Unconsolidated Joint Ventures We have three joint venture agreements whereby we own 7% , 20% , and 30% , respectively, of the equity in each joint venture. 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. On April 27, 2018 we sold our 30% interest in a joint venture created in November 2017 for proceeds of $3.1 million to our unrelated joint venture partner. The proceeds received from the transaction represent the return of our initial investment of $3.0 million and our share of earnings from the joint venture's operations since inception of $0.1 million . We did not record a gain or loss on sale of our interest in the joint venture. The combined condensed financial information for our unconsolidated joint ventures is summarized as follows: Balance Sheets September 30, 2018 December 31, 2017 (In thousands) ASSETS Investment in real estate, net $ 22,243 $ 93,801 Other assets 1,661 4,099 Total Assets $ 23,904 $ 97,900 LIABILITIES AND OWNERS' EQUITY Mortgage notes payable $ — $ 42,330 Other liabilities $ 1 $ 220 Owners' equity 23,903 55,350 Total Liabilities and Owners' Equity $ 23,904 $ 97,900 RPT's equity investments in unconsolidated joint ventures $ 1,556 $ 3,493 Three Months Ended September 30, Nine Months Ended September 30, Statements of Operations 2018 2017 2018 2017 (In thousands) (In thousands) Total revenue $ 782 $ 1,192 $ 3,204 $ 3,485 Total expenses 654 745 2,269 2,250 Income before other income and expense 128 447 935 1,235 Gain on sale of real estate 1,024 — 1,024 — Net income $ 1,152 $ 447 $ 1,959 $ 1,235 RPT's share of earnings from unconsolidated joint ventures $ 297 $ 81 $ 570 $ 223 Acquisitions There was no acquisition activity in the nine months ended September 30, 2018 by any of our unconsolidated joint ventures. Dispositions The following table provides a summary of our unconsolidated joint venture property disposition activity during the nine months ended September 30, 2018 . Gross Property Name Location GLA Ownership % Date Gross Sales Price Gain on Sale (at 100%) (in thousands) (In thousands) Martin Square Stuart, FL 330 30 % 07/18/18 $ 22,000 $ 1,024 330 $ 22,000 $ 1,024 RPT's proportionate share of gross sales price and gain on sale of joint venture property $ 6,600 $ 307 The Company recorded an other gain on unconsolidated joint ventures for the three and nine months ended September 30, 2018 of $5.2 million which represents the excess of the net cash distributed to it from the Martin Square disposition and its proportionate share of the remaining equity in the unconsolidated joint venture. Joint Venture Management and Other Fee Income We are engaged by 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In thousands) (In thousands) Management fees $ 33 $ 69 $ 127 $ 206 Leasing fees — 19 40 108 Disposition fees 55 — 55 — Total $ 88 $ 88 $ 222 $ 314

Debt

Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our mortgages, notes payable and capital lease obligation as of September 30, 2018 and December 31, 2017 : Notes Payable and Capital Lease Obligation September 30, December 31, (In thousands) Senior unsecured notes $ 610,000 $ 610,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 119,042 120,944 Unsecured revolving credit facility 80,000 30,000 Junior subordinated notes 28,125 28,125 1,047,167 999,069 Unamortized premium 3,195 3,967 Unamortized deferred financing costs (3,249 ) (3,821 ) Total notes payable $ 1,047,113 $ 999,215 Capital lease obligation $ 1,022 $ 1,022 Senior Unsecured Notes The following table summarizes the Company's senior unsecured notes: September 30, 2018 December 31, 2017 Senior Unsecured Notes Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) Senior unsecured notes - 3.75% due 2021 6/27/2021 $ 37,000 3.75 % $ 37,000 3.75 % Senior unsecured notes - 4.13% due 2022 12/21/2022 25,000 4.13 % 25,000 4.13 % Senior unsecured notes - 4.12% due 2023 6/27/2023 41,500 4.12 % 41,500 4.12 % Senior unsecured notes - 4.65% due 2024 5/28/2024 50,000 4.65 % 50,000 4.65 % Senior unsecured notes - 4.16% due 2024 11/4/2024 50,000 4.16 % 50,000 4.16 % Senior unsecured notes - 4.05% due 2024 11/18/2024 25,000 4.05 % 25,000 4.05 % Senior unsecured notes - 4.27% due 2025 6/27/2025 31,500 4.27 % 31,500 4.27 % Senior unsecured notes - 4.20% due 2025 7/6/2025 50,000 4.20 % 50,000 4.20 % Senior unsecured notes - 4.09% due 2025 9/30/2025 50,000 4.09 % 50,000 4.09 % Senior unsecured notes - 4.74% due 2026 5/28/2026 50,000 4.74 % 50,000 4.74 % Senior unsecured notes - 4.30% due 2026 11/4/2026 50,000 4.30 % 50,000 4.30 % Senior unsecured notes - 4.28% due 2026 11/18/2026 25,000 4.28 % 25,000 4.28 % Senior unsecured notes - 4.57% due 2027 12/21/2027 30,000 4.57 % 30,000 4.57 % Senior unsecured notes - 3.64% due 2028 11/30/2028 75,000 3.64 % 75,000 3.64 % Senior unsecured notes - 4.72% due 2029 12/21/2029 20,000 4.72 % 20,000 4.72 % $ 610,000 4.21 % $ 610,000 4.21 % Unamortized deferred financing costs (1,611 ) (1,783 ) Total $ 608,389 $ 608,217 Unsecured Term Loan Facilities and Revolving Credit Facility The following table summarizes the Company's unsecured term loan facilities and revolving credit facility: September 30, 2018 December 31, 2017 Unsecured Credit Facilities Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) Unsecured term loan due 2020 - fixed rate (1) 5/16/2020 $ 75,000 2.99 % $ 75,000 2.99 % Unsecured term loan due 2021 - fixed rate (2) 5/29/2021 75,000 2.84 % 75,000 2.84 % Unsecured term loan due 2023 - fixed rate (3) 3/1/2023 60,000 3.60 % 60,000 3.60 % $ 210,000 3.11 % $ 210,000 3.11 % Unamortized deferred financing costs (900 ) (1,224 ) Term loans, net $ 209,100 $ 208,776 Revolving credit facility - variable rate 9/14/2021 $ 80,000 3.39 % 30,000 2.71 % (1) Swapped to a weighted average fixed rate of 1.69% , plus a credit spread of 1.30% , based on a leverage grid at September 30, 2018 . (2) Swapped to a weighted average fixed rate of 1.49% , plus a credit spread of 1.35% , based on a leverage grid at September 30, 2018 . (3) Swapped to a weighted average fixed rate of 1.95% , plus a credit spread of 1.65% , based on a leverage grid at September 30, 2018 . As of September 30, 2018 , we had $80.0 million outstanding under our revolving credit facility, an increase of $50.0 million from December 31, 2017 , as a result of borrowings to fund the Company's redevelopment projects and other liquidity needs. After adjusting for outstanding letters of credit issued under our revolving credit facility, not reflected in the accompanying condensed consolidated balance sheets, totaling $0.2 million , we had $269.8 million of availability under our revolving credit facility. The interest rate as of September 30, 2018 was 3.39% . Mortgages The following table summarizes the Company's fixed rate mortgages: September 30, 2018 December 31, 2017 Mortgage Debt Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) Crossroads Centre Home Depot 12/1/2019 $ 3,275 7.38 % $ 3,352 7.38 % West Oaks II and Spring Meadows Place 4/20/2020 26,012 6.50 % 26,611 6.50 % Bridgewater Falls Shopping Center 2/6/2022 54,780 5.70 % 55,545 5.70 % The Shops on Lane Avenue 1/10/2023 28,650 3.76 % 28,650 3.76 % Nagawaukee II 6/1/2026 6,325 5.80 % 6,786 5.80 % $ 119,042 5.46 % $ 120,944 5.47 % Unamortized premium 3,195 3,967 Unamortized deferred financing costs (99 ) (149 ) Total $ 122,138 $ 124,762 The fixed rate mortgages are secured by properties that have an approximate net book value of $187.5 million as of September 30, 2018 . It is our intent to repay the mortgages maturing in 2019 and beyond using cash, borrowings under our unsecured line of credit, net proceeds from the sale of real estate 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. Junior Subordinated Notes Our junior subordinated notes have a variable rate of LIBOR plus 3.30% . The maturity date is January 2038. Debt Maturities The following table presents scheduled principal payments on mortgages and notes payable as of September 30, 2018 : Year Ending December 31, (In thousands) 2018 $ 659 2019 5,860 2020 102,269 2021 (1) 194,508 2022 77,397 Thereafter 666,474 Subtotal debt 1,047,167 Unamortized premium 3,195 Unamortized deferred financing costs (3,249 ) Total debt $ 1,047,113 (1) Scheduled maturities in 2021 include the $80.0 million balance on the unsecured revolving credit facility drawn as of September 30, 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 September 30, 2018 , we were in compliance with these covenants.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 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 September 30, 2018 and December 31, 2017. Total Balance Sheet Location Fair Value Level 2 September 30, 2018 (In thousands) Derivative assets - interest rate swaps Other assets $ 6,763 $ 6,763 Derivative liabilities - interest rate swaps Other liabilities $ — $ — 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 $939.0 million and $940.9 million as of September 30, 2018 and December 31, 2017 , respectively, had fair values of approximately $921.6 million and $940.8 million , respectively. Variable rate debt’s fair value is estimated to be the carrying values of $108.1 million and $58.1 million as of September 30, 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 nine months ended September 30, 2018 , a land parcel with a fair value of approximately $0.6 million incurred impairment charges of $0.2 million . 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	9 Months Ended
	Sep. 30, 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. At September 30, 2018 , all of our hedges were effective. The following table summarizes the notional values and fair values of our derivative financial instruments as of September 30, 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 % $ — 10/2018 Unsecured term loan Cash Flow 5,000 1.840 % — 10/2018 Unsecured term loan Cash Flow 30,000 2.048 % — 10/2018 Unsecured term loan Cash Flow 15,000 2.150 % 147 05/2020 Unsecured term loan Cash Flow 10,000 2.150 % 98 05/2020 Unsecured term loan Cash Flow 50,000 1.460 % 1,044 05/2020 Unsecured term loan Cash Flow 20,000 1.498 % 702 05/2021 Unsecured term loan Cash Flow 15,000 1.490 % 531 05/2021 Unsecured term loan Cash Flow 40,000 1.480 % 1,425 05/2021 $ 210,000 $ 3,947 Derivative Assets - Forward Swaps Unsecured term loan Cash Flow 60,000 1.770 % 2,816 03/2023 Total Derivative Assets $ 270,000 $ 6,763 The effect of derivative financial instruments on our condensed consolidated statements of operations for the three months ended September 30, 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 September 30, Three Months Ended September 30, 2018 2017 2018 2017 (In thousands) (In thousands) Interest rate contracts - assets $ 260 $ (44 ) Interest Expense $ 214 $ 62 Interest rate contracts - liabilities — 360 Interest Expense — (182 ) Total $ 260 $ 316 Total $ 214 $ (120 ) The effect of derivative financial instruments on our condensed consolidated statements of operations for the nine months ended September 30, 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 Nine Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In thousands) (In thousands) Interest rate contracts - assets $ 3,367 $ (98 ) Interest Expense $ 264 $ (319 ) Interest rate contracts - liabilities 246 1,437 Interest Expense (39 ) (733 ) Total $ 3,613 $ 1,339 Total $ 225 $ (1,052 )

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (In thousands, except per share data) Net income $ 10,364 $ 29,629 $ 22,227 $ 49,295 Net income attributable to noncontrolling interest (239 ) (696 ) (514 ) (1,158 ) Allocation of income to restricted share awards (83 ) (135 ) (319 ) (310 ) Income attributable to RPT 10,042 28,798 21,394 47,827 Preferred share dividends (1,676 ) (1,675 ) (5,026 ) (5,026 ) Net income available to common shareholders - Basic 8,366 27,123 16,368 42,801 Add back preferred shares for dilution (1) — 1,675 — — Net income available to common shareholders - Diluted $ 8,366 $ 28,798 $ 16,368 $ 42,801 Weighted average shares outstanding, Basic 79,712 79,381 79,547 79,337 Restricted stock awards using the treasury method 738 165 392 177 Dilutive effect of securities (1) — 6,713 — — Weighted average shares outstanding, Diluted 80,450 86,259 79,939 79,514 Income per common share, Basic $ 0.10 $ 0.34 $ 0.21 $ 0.54 Income per common share, Diluted $ 0.10 $ 0.33 $ 0.20 $ 0.54 (1) The assumed conversion of the preferred shares is dilutive for the Three Months Ended September 30, 2017 and anti-dilutive for all other periods. We exclude certain securities from the computation of diluted 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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Issued Converted Issued Converted Issued Converted Issued Converted Operating Partnership Units 1,909 1,909 1,917 1,917 1,909 1,909 1,917 1,917 Series D Preferred Shares 1,849 6,830 — — 1,849 6,830 1,849 6,713 Performance Share Units — — 98 — — — 98 — 3,758 8,739 2,015 1,917 3,758 8,739 3,864 8,630

Share-based Compensation Plans

Share-based Compensation Plans	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Plans	Share-based Compensation Plans As of September 30, 2018 , we have two share-based compensation plans in effect: 1) 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; and 2) the Inducement Incentive Plan (“Inducement Plan”), which was approved by the Board of Trustees in April 2018 and 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 individuals who were not previously employees or members of the Board as an inducement material to the individual’s entry into employment with the Company. The 2012 LTIP allows us to issue up to 2.0 million common shares of beneficial interest, of which 0.9 million remained available for issuance as of September 30, 2018 . The Inducement Plan allows us to issue up to 6.0 million common shares of beneficial interest, of which 5.4 million remained available for issuance as of September 30, 2018 . As of September 30, 2018 , we had 133,920 unvested service-based share awards granted under the 2012 LTIP and 218,955 unvested service-based share awards granted under the Inducement Plan. These awards have various expiration dates through March 2023. During the nine months ended September 30, 2018 , we granted the following awards: • 489,306 shares of service-based restricted stock. The service-based awards were valued based on our closing stock price as of the grant date; and • 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 three years or 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 service-based restricted share grants of $1.0 million and $0.8 million for the three months ended September 30, 2018 and September 30, 2017 , respectively, and $3.9 million and $2.0 million for the nine months ended September 30, 2018 and September 30, 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 expense (benefit) related to the cash awards was $0.3 million and $(0.1) million for the three months ended September 30, 2018 and September 30, 2017 , respectively, and an expense of $0.7 million and $0.1 million for the nine months ended September 30, 2018 and September 30, 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 $0.4 million and $0.1 million for the three months ended September 30, 2018 and September 30, 2017 , respectively, and $0.7 million and $0.2 million for the nine months ended September 30, 2018 and September 30, 2017 , respectively. We recognized total share-based compensation expense of $1.7 million and $0.8 million for the three months ended September 30, 2018 and September 30, 2017 , respectively, and $5.3 million and $2.3 million for the nine months ended September 30, 2018 and September 30, 2017 , respectively. As of September 30, 2018 , we had $8.0 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 3.1 years.

Taxes

Taxes	9 Months Ended
	Sep. 30, 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 September 30, 2018 , we had a federal and state deferred tax asset of $7.3 million and a valuation allowance of $7.3 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 $ 0.1 million and $0.1 million for the nine months ended September 30, 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	9 Months Ended
	Sep. 30, 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 September 30, 2018 , we had entered into agreements for construction costs of approximately $12.4 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. Operating Leases We lease office space for our two corporate offices under operating leases that expire in August 2019 and January 2024. 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 $0.5 million and $0.4 million for three months ended September 30, 2018 and 2017, respectively, and $1.4 million and $1.3 million for the nine months ended September 30, 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 nine months ended September 30, 2018 and 2017 , respectively.

Reorganization

Reorganization	9 Months Ended
	Sep. 30, 2018
Reorganizations [Abstract]
Reorganization	Reorganization In connection with the reorganization of the executive management team, we recorded one-time employee termination benefits of $1.3 million and $7.6 million for the three and nine months ended September 30, 2018 , respectively. In connection with the reduction-in-force resulting from the reorganization of the Company's operating structure, we recorded one-time employee termination benefits of $0.8 million for the three and nine months ended September 30, 2018 . Such charges are reflected in the condensed consolidated statements of operations in general and administrative expense.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 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 Pre_2

Organization and Basis of Presentations (Policies)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Organization	Organization Ramco-Gershenson Properties Trust, together with its subsidiaries (the “Company” or "RPT"), owns and operates a national portfolio of dynamic open-air shopping destinations principally located in the top U.S. markets. The Company's locally-curated consumer experience reflect the lifestyles of its diverse neighborhoods and match the modern expectation of its retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange under the ticker symbol RPT. As of September 30, 2018 , the Company's portfolio consisted of 57 shopping centers (including one shopping center owned through a joint venture) representing 13.8 million square feet. As of September 30, 2018 , the Company’s aggregate portfolio was 94.2% leased.
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 September 30, 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.
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.
Recently Adopted and Recent Accounting Pronouncements	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 became 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 became 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 became 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 $4.0 million of cash outflows from real estate acquisitions during the nine months ended September 30, 2018 that were held in escrow as restricted cash. The amount was reclassified as acquisition 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 September 30, 2018 2017 (In thousands) Cash and cash equivalents $ 16,719 $ 4,781 Restricted cash and escrows 3,017 5,256 $ 19,736 $ 10,037 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 became 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 permitted 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 $ 3.1 million , or less than 2.0% of total revenue, for the nine months ended September 30, 2018 . The adoption of the standard did not result in a cumulative adjustment recognized as of January 1, 2018. Recent Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-13, "Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement", which amends ASC 820, Fair Value Measurement. ASU 2018-13 modified the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. This standard is effective for public companies for fiscal years beginning after December 15, 2019, including interim periods within that fiscal year. We are currently evaluating the guidance and have not determined the impact this standard may have on our consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, "Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting", which expands the scope of Topic 718, Compensation-Stock Compensation (which currently only includes share-based payments to employees) to include share-based payments issued to nonemployees for goods or services. Consequently, the accounting for share-based payments to nonemployees and employees will be substantially aligned. This standard is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The adoption of ASU 2018-07 is not expected to have a material impact on our consolidated financial statements. 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 beginning after December 15, 2019, including interim periods within that fiscal year. 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. In addition, the following ASUs were subsequently issued related to ASC Topic 842, all of which will be effective with ASU 2016-02: • 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. • In July 2018, the FASB issued ASU 2018-10, "Codification Improvements to Topic 842, Leases", which affects narrow aspects of the guidance issued in the amendments in ASU 2016-02. • In July 2018, the FASB issued ASU 2018-11, "Leases (Topic 842): Targeted Improvements", which provide lessors with a practical expedient, by class of underlying asset, to not separate nonlease components from the associated lease component and, instead, to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue guidance (Topic 606) and certain criteria are met. The guidance also provides an optional transition method which would allow entities to initially apply the new guidance in the period of adoption, recognizing a cumulative-effect adjustment to the opening balance of retained earnings, if necessary. 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. We preliminarily plan to elect the practical expedients allowable under ASU 2018-01 and ASU 2018-11, and 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 leases, 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.

Organization and Basis of Pre_3

Organization and Basis of Presentations (Tables)	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
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 September 30, 2018 2017 (In thousands) Cash and cash equivalents $ 16,719 $ 4,781 Restricted cash and escrows 3,017 5,256 $ 19,736 $ 10,037

Property Acquisitions and Dis_2

Property Acquisitions and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2018
Business Combinations [Abstract]
Schedule of disposition activity	The following table provides a summary of our disposition activity for the nine months ended September 30, 2018 . Gross Property Name Location GLA Acreage Date Sales Price Gain on Sale (In thousands) Theatre Parcel - Hartland Town Square Hartland, MI N/A 7.5 04/02/18 $ 1,450 $ 181 Peachtree Hills - Outparcel Duluth, GA N/A 1.7 05/25/18 $ 650 $ — Total outparcel dispositions — 9.2 $ 2,100 $ 181 Total Dispositions — 9.2 $ 2,100 $ 181 The following table provides a summary of our acquisition activity for the nine months ended September 30, 2018 : Gross Property Name Location GLA Acreage Date Purchase Assumed (in thousands) (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 September 30, 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 and six months ended September 30, 2018 were as follows: Three Months Ended September 30, 2018 Nine Months Ended September 30, 2018 (In thousands) Total revenue from 2018 acquisition $ 196 $ 584 Net income from 2018 acquisition $ 128 $ 372 Unaudited Proforma Information If the 2018 acquisition had occurred on January 1, 2017 , our consolidated revenues and net income for the three and nine months ended September 30, 2018 and 2017 would have been as follows: Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (In thousands) Consolidated revenue $ 64,217 $ 66,102 $ 196,910 $ 201,321 Consolidated net income available to common shareholders $ 8,450 $ 27,358 $ 16,691 $ 43,401

Equity Investments in Unconso_2

Equity Investments in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2018 December 31, 2017 (In thousands) ASSETS Investment in real estate, net $ 22,243 $ 93,801 Other assets 1,661 4,099 Total Assets $ 23,904 $ 97,900 LIABILITIES AND OWNERS' EQUITY Mortgage notes payable $ — $ 42,330 Other liabilities $ 1 $ 220 Owners' equity 23,903 55,350 Total Liabilities and Owners' Equity $ 23,904 $ 97,900 RPT's equity investments in unconsolidated joint ventures $ 1,556 $ 3,493
Summary of Combined Financial Information for Unconsolidated Entities, Statements of Operations	Three Months Ended September 30, Nine Months Ended September 30, Statements of Operations 2018 2017 2018 2017 (In thousands) (In thousands) Total revenue $ 782 $ 1,192 $ 3,204 $ 3,485 Total expenses 654 745 2,269 2,250 Income before other income and expense 128 447 935 1,235 Gain on sale of real estate 1,024 — 1,024 — Net income $ 1,152 $ 447 $ 1,959 $ 1,235 RPT's share of earnings from unconsolidated joint ventures $ 297 $ 81 $ 570 $ 223
Schedule of Joint Venture Property Disposition	The following table provides a summary of our unconsolidated joint venture property disposition activity during the nine months ended September 30, 2018 . Gross Property Name Location GLA Ownership % Date Gross Sales Price Gain on Sale (at 100%) (in thousands) (In thousands) Martin Square Stuart, FL 330 30 % 07/18/18 $ 22,000 $ 1,024 330 $ 22,000 $ 1,024 RPT's proportionate share of gross sales price and gain on sale of joint venture property $ 6,600 $ 307
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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In thousands) (In thousands) Management fees $ 33 $ 69 $ 127 $ 206 Leasing fees — 19 40 108 Disposition fees 55 — 55 — Total $ 88 $ 88 $ 222 $ 314

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the Company's senior unsecured notes: September 30, 2018 December 31, 2017 Senior Unsecured Notes Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) Senior unsecured notes - 3.75% due 2021 6/27/2021 $ 37,000 3.75 % $ 37,000 3.75 % Senior unsecured notes - 4.13% due 2022 12/21/2022 25,000 4.13 % 25,000 4.13 % Senior unsecured notes - 4.12% due 2023 6/27/2023 41,500 4.12 % 41,500 4.12 % Senior unsecured notes - 4.65% due 2024 5/28/2024 50,000 4.65 % 50,000 4.65 % Senior unsecured notes - 4.16% due 2024 11/4/2024 50,000 4.16 % 50,000 4.16 % Senior unsecured notes - 4.05% due 2024 11/18/2024 25,000 4.05 % 25,000 4.05 % Senior unsecured notes - 4.27% due 2025 6/27/2025 31,500 4.27 % 31,500 4.27 % Senior unsecured notes - 4.20% due 2025 7/6/2025 50,000 4.20 % 50,000 4.20 % Senior unsecured notes - 4.09% due 2025 9/30/2025 50,000 4.09 % 50,000 4.09 % Senior unsecured notes - 4.74% due 2026 5/28/2026 50,000 4.74 % 50,000 4.74 % Senior unsecured notes - 4.30% due 2026 11/4/2026 50,000 4.30 % 50,000 4.30 % Senior unsecured notes - 4.28% due 2026 11/18/2026 25,000 4.28 % 25,000 4.28 % Senior unsecured notes - 4.57% due 2027 12/21/2027 30,000 4.57 % 30,000 4.57 % Senior unsecured notes - 3.64% due 2028 11/30/2028 75,000 3.64 % 75,000 3.64 % Senior unsecured notes - 4.72% due 2029 12/21/2029 20,000 4.72 % 20,000 4.72 % $ 610,000 4.21 % $ 610,000 4.21 % Unamortized deferred financing costs (1,611 ) (1,783 ) Total $ 608,389 $ 608,217 The following table summarizes our mortgages, notes payable and capital lease obligation as of September 30, 2018 and December 31, 2017 : Notes Payable and Capital Lease Obligation September 30, December 31, (In thousands) Senior unsecured notes $ 610,000 $ 610,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 119,042 120,944 Unsecured revolving credit facility 80,000 30,000 Junior subordinated notes 28,125 28,125 1,047,167 999,069 Unamortized premium 3,195 3,967 Unamortized deferred financing costs (3,249 ) (3,821 ) Total notes payable $ 1,047,113 $ 999,215 Capital lease obligation $ 1,022 $ 1,022 The following table summarizes the Company's fixed rate mortgages: September 30, 2018 December 31, 2017 Mortgage Debt Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) Crossroads Centre Home Depot 12/1/2019 $ 3,275 7.38 % $ 3,352 7.38 % West Oaks II and Spring Meadows Place 4/20/2020 26,012 6.50 % 26,611 6.50 % Bridgewater Falls Shopping Center 2/6/2022 54,780 5.70 % 55,545 5.70 % The Shops on Lane Avenue 1/10/2023 28,650 3.76 % 28,650 3.76 % Nagawaukee II 6/1/2026 6,325 5.80 % 6,786 5.80 % $ 119,042 5.46 % $ 120,944 5.47 % Unamortized premium 3,195 3,967 Unamortized deferred financing costs (99 ) (149 ) Total $ 122,138 $ 124,762 The following table summarizes the Company's unsecured term loan facilities and revolving credit facility: September 30, 2018 December 31, 2017 Unsecured Credit Facilities Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) Unsecured term loan due 2020 - fixed rate (1) 5/16/2020 $ 75,000 2.99 % $ 75,000 2.99 % Unsecured term loan due 2021 - fixed rate (2) 5/29/2021 75,000 2.84 % 75,000 2.84 % Unsecured term loan due 2023 - fixed rate (3) 3/1/2023 60,000 3.60 % 60,000 3.60 % $ 210,000 3.11 % $ 210,000 3.11 % Unamortized deferred financing costs (900 ) (1,224 ) Term loans, net $ 209,100 $ 208,776 Revolving credit facility - variable rate 9/14/2021 $ 80,000 3.39 % 30,000 2.71 % (1) Swapped to a weighted average fixed rate of 1.69% , plus a credit spread of 1.30% , based on a leverage grid at September 30, 2018 . (2) Swapped to a weighted average fixed rate of 1.49% , plus a credit spread of 1.35% , based on a leverage grid at September 30, 2018 . (3) Swapped to a weighted average fixed rate of 1.95% , plus a credit spread of 1.65% , based on a leverage grid at September 30, 2018 .
Scheduled Principal Payments on Mortgages and Notes Payable	The following table presents scheduled principal payments on mortgages and notes payable as of September 30, 2018 : Year Ending December 31, (In thousands) 2018 $ 659 2019 5,860 2020 102,269 2021 (1) 194,508 2022 77,397 Thereafter 666,474 Subtotal debt 1,047,167 Unamortized premium 3,195 Unamortized deferred financing costs (3,249 ) Total debt $ 1,047,113 (1) Scheduled maturities in 2021 include the $80.0 million balance on the unsecured revolving credit facility drawn as of September 30, 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)	9 Months Ended
	Sep. 30, 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 September 30, 2018 and December 31, 2017. Total Balance Sheet Location Fair Value Level 2 September 30, 2018 (In thousands) Derivative assets - interest rate swaps Other assets $ 6,763 $ 6,763 Derivative liabilities - interest rate swaps Other liabilities $ — $ — 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 Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 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 % $ — 10/2018 Unsecured term loan Cash Flow 5,000 1.840 % — 10/2018 Unsecured term loan Cash Flow 30,000 2.048 % — 10/2018 Unsecured term loan Cash Flow 15,000 2.150 % 147 05/2020 Unsecured term loan Cash Flow 10,000 2.150 % 98 05/2020 Unsecured term loan Cash Flow 50,000 1.460 % 1,044 05/2020 Unsecured term loan Cash Flow 20,000 1.498 % 702 05/2021 Unsecured term loan Cash Flow 15,000 1.490 % 531 05/2021 Unsecured term loan Cash Flow 40,000 1.480 % 1,425 05/2021 $ 210,000 $ 3,947 Derivative Assets - Forward Swaps Unsecured term loan Cash Flow 60,000 1.770 % 2,816 03/2023 Total Derivative Assets $ 270,000 $ 6,763
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 September 30, 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 September 30, Three Months Ended September 30, 2018 2017 2018 2017 (In thousands) (In thousands) Interest rate contracts - assets $ 260 $ (44 ) Interest Expense $ 214 $ 62 Interest rate contracts - liabilities — 360 Interest Expense — (182 ) Total $ 260 $ 316 Total $ 214 $ (120 ) The effect of derivative financial instruments on our condensed consolidated statements of operations for the nine months ended September 30, 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 Nine Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 (In thousands) (In thousands) Interest rate contracts - assets $ 3,367 $ (98 ) Interest Expense $ 264 $ (319 ) Interest rate contracts - liabilities 246 1,437 Interest Expense (39 ) (733 ) Total $ 3,613 $ 1,339 Total $ 225 $ (1,052 )

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (In thousands, except per share data) Net income $ 10,364 $ 29,629 $ 22,227 $ 49,295 Net income attributable to noncontrolling interest (239 ) (696 ) (514 ) (1,158 ) Allocation of income to restricted share awards (83 ) (135 ) (319 ) (310 ) Income attributable to RPT 10,042 28,798 21,394 47,827 Preferred share dividends (1,676 ) (1,675 ) (5,026 ) (5,026 ) Net income available to common shareholders - Basic 8,366 27,123 16,368 42,801 Add back preferred shares for dilution (1) — 1,675 — — Net income available to common shareholders - Diluted $ 8,366 $ 28,798 $ 16,368 $ 42,801 Weighted average shares outstanding, Basic 79,712 79,381 79,547 79,337 Restricted stock awards using the treasury method 738 165 392 177 Dilutive effect of securities (1) — 6,713 — — Weighted average shares outstanding, Diluted 80,450 86,259 79,939 79,514 Income per common share, Basic $ 0.10 $ 0.34 $ 0.21 $ 0.54 Income per common share, Diluted $ 0.10 $ 0.33 $ 0.20 $ 0.54 (1) The assumed conversion of the preferred shares is dilutive for the Three Months Ended September 30, 2017 and anti-dilutive for all other periods.
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 September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Issued Converted Issued Converted Issued Converted Issued Converted Operating Partnership Units 1,909 1,909 1,917 1,917 1,909 1,909 1,917 1,917 Series D Preferred Shares 1,849 6,830 — — 1,849 6,830 1,849 6,713 Performance Share Units — — 98 — — — 98 — 3,758 8,739 2,015 1,917 3,758 8,739 3,864 8,630

Organization and Basis of Pre_4

Organization and Basis of Presentations - Additional Information (Details) $ in Thousands, ft² in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2018USD ($)ft²property	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)ft²property	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Area of real estate property (in sq feet) | ft²	13.8		13.8
Ownership interest	94.20%		94.20%
Ownership interest in Ramco-Gershenson Properties, L. P.			97.70%		97.70%
Cumulative effect adjustment - ASU adoption					$ 2,160
Net proceeds from sales of real estate			$ (1,354)	$ (121,419)
Total revenue	$ 64,217	$ 65,931	196,902	200,819
Accounting Standards Update 2017-05
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cumulative effect adjustment - ASU adoption	$ 2,200		2,200
Accounting Standards Update 2016-18
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net proceeds from sales of real estate			4,000
Proceeds from dispositions held in escrow (non-cash investing activity)				$ 4,000
Other Property Income and Management and Other Fee Income
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total revenue			$ 3,100
Percentage of revenue (less than)			2.00%
Shopping Centers
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of real estate properties owned and managed | property	57		57
Corporate Joint Venture | Shopping Centers
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of real estate properties owned and managed | property	1		1

Organization and Basis of Pre_5

Organization and Basis of Presentations - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Cash and cash equivalents	$ 16,719	$ 8,081	$ 4,781
Restricted cash and escrows	3,017	4,810	5,256
Cash, cash equivalents, and restricted cash	$ 19,736	$ 12,891	$ 10,037	$ 14,726

Real Estate - Additional Inform

Real Estate - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)propertyland	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)propertyland	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)propertyland
Real Estate [Abstract]
Provision for impairment	$ 0	$ 1,885,000	$ 216,000	$ 8,423,000
Land held for development or sale	31,800,000		31,800,000		$ 31,600,000
Constructions in progress	$ 27,900,000		$ 27,900,000		$ 26,600,000
Number of properties, held-for-sale | property	0		0		0
Number of land parcel, held-for-sale | land	0		0		0

Property Acquisitions and Dis_3

Property Acquisitions and Dispositions - Property Acquisitions (Details) ft² in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)aft²
Business Acquisition [Line Items]
GLA (in sq ft) | a	0
Acreage (in acres) | a	9.2
Income Producing Property Acquisitions
Business Acquisition [Line Items]
GLA (in sq ft) | ft²	60
Acreage (in acres) | a	0
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 Dis_4

Property Acquisitions and Dispositions - Total Aggregate Fair Value of Acquisitions Allocated (Details) $ in Thousands	Sep. 30, 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 Dis_5

Property Acquisitions and Dispositions - Revenue and Net Income for Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Business Combinations [Abstract]
Total revenue from 2018 acquisition	$ 196	$ 584
Net income from 2018 acquisition	$ 128	$ 372

Property Acquisitions and Dis_6

Property Acquisitions and Dispositions - Unaudited Pro Forma Information (Details) - Income Producing Property Acquisitions - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Consolidated revenue	$ 64,217	$ 66,102	$ 196,910	$ 201,321
Consolidated net income available to common shareholders	$ 8,450	$ 27,358	$ 16,691	$ 43,401

Property Acquisitions and Dis_7

Property Acquisitions and Dispositions - Dispositions (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)a
Business Acquisition [Line Items]
GLA (in sq ft) | a	0
Acreage (in acres) | a	9.2
Sales Price	$ 2,100
Gain on Sale	$ 181
Income Producing Property Dispositions
Business Acquisition [Line Items]
GLA (in sq ft) | a	0
Acreage (in acres) | a	9.2
Sales Price	$ 2,100
Gain on Sale	$ 181
Income Producing Property Dispositions | Theatre Parcel - Hartland Town Square
Business Acquisition [Line Items]
Location	Hartland, MI
Acreage (in acres) | a	7.5
Date Sold	Apr. 2, 2018
Sales Price	$ 1,450
Gain on Sale	$ 181
Income Producing Property Dispositions | Peachtree Hills - Outparcel
Business Acquisition [Line Items]
Location	Duluth, GA
Acreage (in acres) | a	1.7
Date Sold	May 25, 2018
Sales Price	$ 650
Gain on Sale	$ 0

Equity Investments in Unconso_3

Equity Investments in Unconsolidated Joint Ventures - Additional Information (Details) $ in Thousands	Apr. 27, 2018USD ($)	Sep. 30, 2018USD ($)partnership_unit	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)partnership_unit	Sep. 30, 2017USD ($)
Schedule of Equity Method Investments [Line Items]
Number of joint ventures | partnership_unit		3		3
Ownership interest		94.20%		94.20%
Earnings from unconsolidated joint ventures		$ 297	$ 81	$ 570	$ 223
Other gain on unconsolidated joint ventures		$ 5,208	$ 0	$ 5,208	$ 0
Joint Venture One
Schedule of Equity Method Investments [Line Items]
Ownership interest		7.00%		7.00%
Joint Venture Two
Schedule of Equity Method Investments [Line Items]
Ownership interest		20.00%		20.00%
Joint Venture Three
Schedule of Equity Method Investments [Line Items]
Ownership interest		30.00%		30.00%
Proceeds from sale of equity method investments	$ 3,100
Return of capital on initial investment	3,000
Earnings from unconsolidated joint ventures	$ 100
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments				$ 22,000
Unconsolidated Joint Ventures | Martin Square
Schedule of Equity Method Investments [Line Items]
Ownership interest		30.00%		30.00%
Proceeds from sale of equity method investments				$ 22,000
Other gain on unconsolidated joint ventures		$ 5,200		$ 5,200

Equity Investments in Unconso_4

Equity Investments in Unconsolidated Joint Ventures - Summary of Combined Financial Information of Unconsolidated Entities, Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
ASSETS
Investment in real estate, net	$ 22,243	$ 93,801
Other assets	1,661	4,099
Total Assets	23,904	97,900
LIABILITIES AND OWNERS' EQUITY
Mortgage notes payable	0	42,330
Other liabilities	1	220
Owners' equity	23,903	55,350
Total Liabilities and Owners' Equity	23,904	97,900
RPT's equity investments in unconsolidated joint ventures	$ 1,556	$ 3,493

Equity Investments in Unconso_5

Equity Investments in Unconsolidated Joint Ventures - Summary of Combined Financial Information of Unconsolidated Entities, Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Total revenue	$ 782	$ 1,192	$ 3,204	$ 3,485
Total expenses	654	745	2,269	2,250
Income before other income and expense	128	447	935	1,235
Gain on sale of real estate	1,024	0	1,024	0
Net income	1,152	447	1,959	1,235
RPT's share of earnings from unconsolidated joint ventures	$ 297	$ 81	$ 570	$ 223

Equity Investments in Unconso_6

Equity Investments in Unconsolidated Joint Ventures Equity Investments in Unconsolidated Joint Ventures - Joint Venture Property Disposition Activity (Details) ft² in Thousands, a in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)aft²
Schedule of Equity Method Investments [Line Items]
GLA (in sq ft) | a	0
Ownership interest	94.20%
Sale of real estate	$ 6,600
Gains (losses) on sale of investment real estate	$ 307
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
GLA (in sq ft) | ft²	330
Proceeds from sale of equity method investments	$ 22,000
Realized gain (loss) on disposal	$ 1,024
Unconsolidated Joint Ventures | Martin Square
Schedule of Equity Method Investments [Line Items]
GLA (in sq ft) | ft²	330
Ownership interest	30.00%
Proceeds from sale of equity method investments	$ 22,000
Realized gain (loss) on disposal	$ 1,024

Equity Investments in Unconso_7

Equity Investments in Unconsolidated Joint Ventures - Information of Fees Earned (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 64,217	$ 65,931	$ 196,902	$ 200,819
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Total revenue	88	88	222	314
Unconsolidated Joint Ventures | Management fees
Schedule of Equity Method Investments [Line Items]
Total revenue	33	69	127	206
Unconsolidated Joint Ventures | Leasing fees
Schedule of Equity Method Investments [Line Items]
Total revenue	0	19	40	108
Unconsolidated Joint Ventures | Disposition fees
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 55	$ 0	$ 55	$ 0

Debt - Summary of Mortgages, No

Debt - Summary of Mortgages, Notes Payable and Capital Lease Obligation (Details) - USD ($) $ in Thousands	Sep. 30, 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	119,042	120,944
Unsecured revolving credit facility	80,000	30,000
Junior subordinated notes	28,125	28,125
Subtotal debt	1,047,167	999,069
Unamortized premium	3,195	3,967
Unamortized deferred financing costs	(3,249)	(3,821)
Total debt	1,047,113	999,215
Capital lease obligation	$ 1,022	$ 1,022

Debt - Senior Unsecured Notes (

Debt - Senior Unsecured Notes (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Senior unsecured notes	$ 1,047,167	$ 999,069
Total debt	1,047,113	999,215
Senior Notes
Debt Instrument [Line Items]
Senior unsecured notes	$ 610,000	$ 610,000
Weighted average interest rate	4.21%	4.21%
Unamortized deferred financing costs	$ (1,611)	$ (1,783)
Total debt	608,389	608,217
Senior Notes | Senior unsecured notes - 3.75% due 2021
Debt Instrument [Line Items]
Senior unsecured notes	$ 37,000	$ 37,000
Stated interest rate	3.75%	3.75%
Senior Notes | Senior unsecured notes - 4.13% due 2022
Debt Instrument [Line Items]
Senior unsecured notes	$ 25,000	$ 25,000
Stated interest rate	4.13%	4.13%
Senior Notes | Senior unsecured notes - 4.12% due 2023
Debt Instrument [Line Items]
Senior unsecured notes	$ 41,500	$ 41,500
Stated interest rate	4.12%	4.12%
Senior Notes | Senior unsecured notes - 4.65% due 2024
Debt Instrument [Line Items]
Senior unsecured notes	$ 50,000	$ 50,000
Stated interest rate	4.65%	4.65%
Senior Notes | Senior unsecured notes - 4.16% due 2024
Debt Instrument [Line Items]
Senior unsecured notes	$ 50,000	$ 50,000
Stated interest rate	4.16%	4.16%
Senior Notes | Senior unsecured notes - 4.05% due 2024
Debt Instrument [Line Items]
Senior unsecured notes	$ 25,000	$ 25,000
Stated interest rate	4.05%	4.05%
Senior Notes | Senior unsecured notes - 4.27% due 2025
Debt Instrument [Line Items]
Senior unsecured notes	$ 31,500	$ 31,500
Stated interest rate	4.27%	4.27%
Senior Notes | Senior unsecured notes - 4.20% due 2025
Debt Instrument [Line Items]
Senior unsecured notes	$ 50,000	$ 50,000
Stated interest rate	4.20%	4.20%
Senior Notes | Senior unsecured notes - 4.09% due 2025
Debt Instrument [Line Items]
Senior unsecured notes	$ 50,000	$ 50,000
Stated interest rate	4.09%	4.09%
Senior Notes | Senior unsecured notes - 4.74% due 2026
Debt Instrument [Line Items]
Senior unsecured notes	$ 50,000	$ 50,000
Stated interest rate	4.74%	4.74%
Senior Notes | Senior unsecured notes - 4.30% due 2026
Debt Instrument [Line Items]
Senior unsecured notes	$ 50,000	$ 50,000
Stated interest rate	4.30%	4.30%
Senior Notes | Senior unsecured notes - 4.28% due 2026
Debt Instrument [Line Items]
Senior unsecured notes	$ 25,000	$ 25,000
Stated interest rate	4.28%	4.28%
Senior Notes | Senior unsecured notes - 4.57% due 2027
Debt Instrument [Line Items]
Senior unsecured notes	$ 30,000	$ 30,000
Stated interest rate	4.57%	4.57%
Senior Notes | Senior unsecured notes - 3.64% due 2028
Debt Instrument [Line Items]
Senior unsecured notes	$ 75,000	$ 75,000
Stated interest rate	3.64%	3.64%
Senior Notes | Senior unsecured notes - 4.72% due 2029
Debt Instrument [Line Items]
Senior unsecured notes	$ 20,000	$ 20,000
Stated interest rate	4.72%	4.72%

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unsecured notes		$ 1,047,167	$ 999,069
Total debt		1,047,113	999,215
Unsecured revolving credit facility		80,000	30,000
Revolving Credit Facility
Debt Instrument [Line Items]
Unsecured revolving credit facility		80,000
Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Unsecured notes		$ 210,000	$ 210,000
Weighted average interest rate		3.11%	3.11%
Unamortized deferred financing costs		$ (900)	$ (1,224)
Total debt		$ 209,100	$ 208,776
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Stated interest rate		3.39%	2.71%
Unsecured revolving credit facility		$ 80,000	$ 30,000
Revolving Credit Facility | Unsecured Term Loan Due 2020 | Unsecured Debt
Debt Instrument [Line Items]
Unsecured notes	[1]	$ 75,000	$ 75,000
Stated interest rate	[1]	2.99%	2.99%
Weighted average fixed interest rate		1.69%
Basis spread on variable rate		1.30%
Revolving Credit Facility | Unsecured Term Loan Due 2021 | Unsecured Debt
Debt Instrument [Line Items]
Unsecured notes	[2]	$ 75,000	$ 75,000
Stated interest rate	[2]	2.84%	2.84%
Weighted average fixed interest rate		1.49%
Basis spread on variable rate		1.35%
Revolving Credit Facility | Unsecured Term Loan Due 2023 | Unsecured Debt
Debt Instrument [Line Items]
Unsecured notes	[3]	$ 60,000	$ 60,000
Stated interest rate	[3]	3.60%	3.60%
Weighted average fixed interest rate		1.95%
Basis spread on variable rate		1.65%
[1]	Swapped to a weighted average fixed rate of 1.69%, plus a credit spread of 1.30%, based on a leverage grid at September 30, 2018.
[2]	Swapped to a weighted average fixed rate of 1.49%, plus a credit spread of 1.35%, based on a leverage grid at September 30, 2018.
[3]	Swapped to a weighted average fixed rate of 1.95%, plus a credit spread of 1.65%, based on a leverage grid at September 30, 2018.

Debt - Mortgages (Details)

Debt - Mortgages (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unsecured notes	$ 1,047,167	$ 999,069
Unamortized premium	3,195	3,967
Unamortized deferred financing costs	(3,249)	(3,821)
Total debt	1,047,113	999,215
Mortgages
Debt Instrument [Line Items]
Unsecured notes	$ 119,042	$ 120,944
Weighted average interest rate	5.46%	5.47%
Unamortized premium	$ 3,195	$ 3,967
Unamortized deferred financing costs	(99)	(149)
Total debt	122,138	124,762
Mortgages | Crossroads Centre Home Depot
Debt Instrument [Line Items]
Unsecured notes	$ 3,275	$ 3,352
Stated interest rate	7.38%	7.38%
Mortgages | West Oaks II and Spring Meadows Place
Debt Instrument [Line Items]
Unsecured notes	$ 26,012	$ 26,611
Stated interest rate	6.50%	6.50%
Mortgages | Bridgewater Falls Shopping Center
Debt Instrument [Line Items]
Unsecured notes	$ 54,780	$ 55,545
Stated interest rate	5.70%	5.70%
Mortgages | The Shops on Lane Avenue
Debt Instrument [Line Items]
Unsecured notes	$ 28,650	$ 28,650
Stated interest rate	3.76%	3.76%
Mortgages | Nagawaukee II
Debt Instrument [Line Items]
Unsecured notes	$ 6,325	$ 6,786
Stated interest rate	5.80%	5.80%

Debt - Scheduled Principal Paym

Debt - Scheduled Principal Payments on Mortgages and Notes Payable (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2018USD ($)extension_option	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
2,018	$ 659
2,019	5,860
2,020	102,269
2,021	194,508
2,022	77,397
Thereafter	666,474
Subtotal debt	1,047,167	$ 999,069
Unamortized premium	3,195	3,967
Unamortized deferred financing costs	(3,249)	(3,821)
Total debt	1,047,113	999,215
Revolving credit facility, outstanding balance	$ 80,000	$ 30,000
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Number of extension options | extension_option	2
Extension option, period (in months)	6 months
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, outstanding balance	$ 80,000

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Debt Instrument [Line Items]
Revolving credit facility, outstanding balance	$ 80,000		$ 30,000
Increase of revolving credit facility	65,000	$ 224,000
Fixed Rate Mortgage Debt
Debt Instrument [Line Items]
Net book value	187,500
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, outstanding balance	80,000
Increase of revolving credit facility	50,000
Letters of credit outstanding, amount	(200)
Line of credit facility, remaining borrowing capacity	$ 269,800
London Interbank Offered Rate (LIBOR) | Junior Subordinated Debt
Debt Instrument [Line Items]
Basis spread on variable rate	3.30%

Fair Value - Recorded Amount of

Fair Value - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative assets - interest rate swaps	$ 6,763	$ 3,133
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	0	(208)
Level 2 | Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative assets - interest rate swaps	6,763	3,133
Level 2 | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	$ 0	$ (208)

Fair Value - Additional Inform

Fair Value - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, carrying amount	$ 1,047,113,000		$ 1,047,113,000		$ 999,215,000
Fair value, net	1,789,263,000		1,789,263,000		1,779,147,000
Asset impairment charges	0	$ 1,885,000	216,000	$ 8,423,000
Fixed Rate Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, carrying amount	939,000,000		939,000,000		940,900,000
Level 2 | Fixed Rate Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	921,600,000		921,600,000		940,800,000
Level 2 | Floating Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	108,100,000		108,100,000		$ 58,100,000
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, net	$ 600,000		$ 600,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Notional Values and Fair Values of Derivative Financial Instruments (Details) - Cash Flow Hedging - Designated as Hedging Instrument	Sep. 30, 2018USD ($)
Derivative [Line Items]
Derivative asset, notional amount	$ 270,000,000
Derivative assets, at fair value	6,763,000
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	$ 0
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	$ 0
Unsecured term loan facility with: 2.048 % Swap Rate, Expiration Date 10/2018
Derivative [Line Items]
Derivative asset, notional amount	$ 30,000,000
Fixed rate (as a percent)	2.048%
Derivative assets, at fair value	$ 0
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	$ 147,000
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	$ 98,000
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	$ 1,044,000
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	$ 702,000
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	$ 531,000
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	$ 1,425,000
Interest Rate Swap
Derivative [Line Items]
Derivative asset, notional amount	210,000,000
Derivative assets, at fair value	3,947,000
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	$ 2,816,000

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Effect of Derivative Financial Instruments on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 260	$ 316	$ 3,613	$ 1,339
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)	214	(120)	225	(1,052)
Derivative Assets
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	260	(44)	3,367	(98)
Derivative Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	0	360	246	1,437
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)	214	62	264	(319)
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)	$ 0	$ (182)	$ (39)	$ (733)

Earnings Per Common Share Earni

Earnings Per Common Share Earnings Per Common Share - Computation of Basic Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net income	$ 10,364	$ 29,629	$ 22,227	$ 49,295
Net income attributable to noncontrolling interest	(239)	(696)	(514)	(1,158)
Allocation of income to restricted share awards	(83)	(135)	(319)	(310)
Income attributable to RPT	10,042	28,798	21,394	47,827
Preferred share dividends	(1,676)	(1,675)	(5,026)	(5,026)
Net income available to common shareholders - Basic	8,366	27,123	16,368	42,801
Add back preferred shares for dilution	0	1,675	0	0
Net income available to common shareholders - Diluted	$ 8,366	$ 28,798	$ 16,368	$ 42,801
Weighted average shares outstanding, Basic (in shares)	79,712	79,381	79,547	79,337
Restricted stock awards using the treasury method (in shares)	738	165	392	177
Dilutive effect of securities (in shares)	0	6,713	0	0
Weighted average shares outstanding, Diluted (in shares)	80,450	86,259	79,939	79,514
Income per common share, Basic (in usd per share)	$ 0.10	$ 0.34	$ 0.21	$ 0.54
Income per common share, Diluted (in usd per share)	$ 0.10	$ 0.33	$ 0.20	$ 0.54

Earnings Per Common Share Ear_2

Earnings Per Common Share Earnings Per Common Share - Antidilutive (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	3,758	2,015	3,758	3,864
Converted (in shares)	8,739	1,917	8,739	8,630
Operating Partnership Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	1,909	1,917	1,909	1,917
Converted (in shares)	1,909	1,917	1,909	1,917
Series D Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	1,849	0	1,849	1,849
Converted (in shares)	6,830	0	6,830	6,713
Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Issued (in shares)	0	98	0	98
Converted (in shares)	0	0	0	0

Share-based Compensation Plans

Share-based Compensation Plans Share-based Compensation Plans - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)shares	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)planshares	Sep. 30, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans in effect | plan			2
Performance-based liability awards, measurement period (in years)			3 years
Share-based compensation expenses | $	$ 1.7	$ 0.8	$ 5.3	$ 2.3
Compensation expense (benefit) related to cash awards | $	0.3	(0.1)	0.7	0.1
Total unrecognized compensation expense | $	$ 8		$ 8
Total unrecognized compensation expense, weighted average period of recognition			3 years 24 days
Long-Term Incentive Plan ("LTIP")
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant	2,000,000		2,000,000
Number of shares available for issuance	900,000		900,000
Number of shares terminated			133,920
Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant	6,000,000		6,000,000
Number of shares available for issuance	5,400,000		5,400,000
Number of shares terminated			218,955
Service-based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, shares granted			489,306
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses | $	$ 1	0.8	$ 3.9	2
Equity Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses | $	$ 0.4	$ 0.1	$ 0.7	$ 0.2
Trustee | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)			1 year
Minimum | Employee | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)			3 years
Maximum | Employee | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)			5 years

Taxes - Additional Information

Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Tax Credit Carryforward [Line Items]
Annual distribution of REIT taxable income (as a percent)	90.00%		90.00%
Income tax provision (benefit)	$ 96	$ 65	$ 147	$ 119
Federal and State Income Taxes
Tax Credit Carryforward [Line Items]
Federal and state deferred tax asset	7,300		7,300
Federal and state deferred tax asset, valuation allowance	$ 7,300		$ 7,300

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2018USD ($)office	Sep. 30, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
Construction costs related to development and expansion			$ 12.4
Number of offices | office			2
Operating leases, rent expense	$ 0.5	$ 0.4	$ 1.4	$ 1.3

Reorganization Reorganization (

Reorganization Reorganization (Details) - One-time Termination Benefits - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 0.8	$ 0.8
Executive Officer
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 1.3	$ 7.6