RPT Realty (KIM+N) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 26, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Entity File Number	1-10093
Entity Registrant Name	RPT Realty
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	13-6908486
Entity Address, Address Line One	19 W 44th Street,
Entity Address, Address Line Two	Suite 1002
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	212
Local Phone Number	221-1261
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		80,360,451
Entity Central Index Key	0000842183
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Document Transition Report	false
Common Shares
Entity Information [Line Items]
Title of 12(b) Security	Common Shares of Beneficial Interest, ($0.01 Par Value Per Share)
Trading Symbol	RPT
Security Exchange Name	NYSE
Series D Cumulative Convertible Perpetual Preferred Shares
Entity Information [Line Items]
Title of 12(b) Security	7.25% Series D Cumulative Convertible Perpetual Preferred
Trading Symbol	RPT.PRD
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Income producing properties, at cost:
Land	$ 361,973	$ 373,490
Buildings and improvements	1,605,354	1,652,283
Less accumulated depreciation and amortization	(364,314)	(358,195)
Income producing properties, net	1,603,013	1,667,578
Construction in progress and land available for development	49,597	53,222
Net real estate	1,652,610	1,720,800
Equity investments in unconsolidated joint ventures	1,492	1,572
Cash and cash equivalents	47,072	41,064
Restricted cash and escrows	4,274	3,658
Accounts receivable (net of allowance for doubtful accounts of $1,168 and $858 as of June 30, 2019 and December 31, 2018, respectively)	22,203	23,802
Acquired lease intangibles, net	38,096	44,432
Operating lease right-of-use assets	17,425
Other assets, net	90,722	93,112
TOTAL ASSETS	1,873,894	1,928,440
LIABILITIES AND SHAREHOLDERS' EQUITY
Notes payable, net	934,223	963,149
Finance lease obligation	975
Finance lease obligation		975
Accounts payable and accrued expenses	48,356	56,355
Distributions payable	19,766	19,728
Acquired lease intangibles, net	43,648	48,647
Operating lease liabilities	16,188
Other liabilities	7,274	8,043
TOTAL LIABILITIES	1,070,430	1,096,897
Commitments and Contingencies
RPT Realty (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 June 30, 2019 and December 31, 2018, respectively	92,427	92,427
Common shares of beneficial interest, $0.01 par, 120,000 shares authorized, 79,816 and 79,734 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	798	797
Additional paid-in capital	1,167,060	1,164,848
Accumulated distributions in excess of net income	(475,819)	(450,130)
Accumulated other comprehensive income	42	4,020
TOTAL SHAREHOLDERS' EQUITY ATTRIBUTABLE TO RPT	784,508	811,962
Noncontrolling interest	18,956	19,581
TOTAL SHAREHOLDERS' EQUITY	803,464	831,543
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,873,894	$ 1,928,440

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounts receivable, allowance for doubtful accounts	$ 1,168	$ 858
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)	79,816,000	79,734,000
Common shares of beneficial interest, outstanding (in shares)	79,816,000	79,734,000
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, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUE
TOTAL REVENUE	$ 57,361	$ 69,967	$ 117,069	$ 132,685
EXPENSES
Real estate taxes	8,722	10,602	18,544	20,759
Recoverable operating expense	5,343	6,141	12,024	12,947
Non-recoverable operating expense	2,709	1,759	5,199	3,471
Depreciation and amortization	20,628	23,457	39,847	44,569
Acquisition costs	0	233	0	233
General and administrative expense	6,530	12,730	12,596	17,906
Provision for impairment	0	216	0	216
TOTAL EXPENSES	43,932	55,138	88,210	100,101
OPERATING INCOME	13,429	14,829	28,859	32,584
OTHER INCOME AND EXPENSES
Other (expense) income, net	(123)	(68)	(231)	185
Gain on sale of real estate	371	181	6,073	181
Earnings from unconsolidated joint ventures	26	202	80	273
Interest expense	(10,084)	(10,708)	(20,433)	(21,309)
Loss on extinguishment of debt	(622)	0	(622)	0
INCOME BEFORE TAX	2,997	4,436	13,726	11,914
Income tax provision	(35)	(33)	(71)	(51)
NET INCOME	2,962	4,403	13,655	11,863
Net income attributable to noncontrolling partner interest	(69)	(101)	(319)	(275)
NET INCOME ATTRIBUTABLE TO RPT	2,893	4,302	13,336	11,588
Preferred share dividends	(1,675)	(1,675)	(3,350)	(3,350)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 1,218	$ 2,627	$ 9,986	$ 8,238
EARNINGS PER COMMON SHARE
Basic (in usd per share)	$ 0.01	$ 0.03	$ 0.12	$ 0.10
Diluted (in usd per share)	$ 0.01	$ 0.03	$ 0.12	$ 0.10
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	79,764	79,519	79,754	79,471
Diluted (in shares)	80,156	79,621	80,148	79,574
Cash Dividend Declared per Common Share (in usd per share)	$ 0.22	$ 0.22	$ 0.44	$ 0.44
OTHER COMPREHENSIVE INCOME
Net income	$ 2,962	$ 4,403	$ 13,655	$ 11,863
Other comprehensive gain (loss):
(Loss) gain on interest rate swaps	(2,534)	922	(4,073)	3,364
Comprehensive income	428	5,325	9,582	15,227
Comprehensive income attributable to noncontrolling interest	(10)	(122)	(224)	(354)
COMPREHENSIVE INCOME ATTRIBUTABLE TO RPT	418	5,203	9,358	14,873
Rental income
REVENUE
TOTAL REVENUE	56,641	68,872	114,999	130,690
Other property income
REVENUE
TOTAL REVENUE	681	1,047	1,980	1,861
Management and other fee income
REVENUE
TOTAL REVENUE	$ 39	$ 48	$ 90	$ 134

Condensed Consolidated Statem_2

Condensed Consolidated Statements 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
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	(25)			(25)
Share-based compensation, net of shares withheld for employee taxes	2,523		1	2,522
Dividends declared to common shareholders	(34,981)				(34,981)
Dividends declared to preferred shareholders	(3,350)				(3,350)
Distributions declared to noncontrolling interests	(843)						(843)
Dividends declared to deferred shares	(271)				(271)
Other comprehensive income adjustment	3,364					3,285	79
Net income	11,863				11,588		275
Redemption of OP unit holders	(7)				(2)		(5)
Ending balance at Jun. 30, 2018	865,602	92,427	795	1,163,359	(417,526)	6,143	20,404
Beginning balance at Mar. 31, 2018	877,908	92,427	795	1,161,252	(402,512)	5,243	20,703
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, net of issuance costs	(25)			(25)
Share-based compensation, net of shares withheld for employee taxes	2,132			2,132
Dividends declared to common shareholders	(17,497)				(17,497)
Dividends declared to preferred shareholders	(1,675)				(1,675)
Distributions declared to noncontrolling interests	(422)						(422)
Dividends declared to deferred shares	(144)				(144)
Other comprehensive income adjustment	922					900	22
Net income	4,403				4,302		101
Ending balance at Jun. 30, 2018	865,602	92,427	795	1,163,359	(417,526)	6,143	20,404
Beginning balance at Dec. 31, 2018	831,543	92,427	797	1,164,848	(450,130)	4,020	19,581
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, net of issuance costs	(94)			(94)
Share-based compensation, net of shares withheld for employee taxes	2,307		1	2,306
Dividends declared to common shareholders	(35,102)				(35,102)
Dividends declared to preferred shareholders	(3,350)				(3,350)
Distributions declared to noncontrolling interests	(841)						(841)
Dividends declared to deferred shares	(248)				(248)
Other comprehensive income adjustment	(4,073)					(3,978)	(95)
Net income	13,655				13,336		319
Ending balance at Jun. 30, 2019	803,464	92,427	798	1,167,060	(475,819)	42	18,956
Beginning balance at Mar. 31, 2019	821,791	92,427	798	1,166,048	(459,365)	2,517	19,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, net of issuance costs	(94)			(94)
Share-based compensation, net of shares withheld for employee taxes	1,106			1,106
Dividends declared to common shareholders	(17,556)				(17,556)
Dividends declared to preferred shareholders	(1,675)				(1,675)
Distributions declared to noncontrolling interests	(420)						(420)
Dividends declared to deferred shares	(116)				(116)
Other comprehensive income adjustment	(2,534)					(2,475)	(59)
Net income	2,962				2,893		69
Ending balance at Jun. 30, 2019	$ 803,464	$ 92,427	$ 798	$ 1,167,060	$ (475,819)	$ 42	$ 18,956

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
OPERATING ACTIVITIES
Net income	$ 13,655	$ 11,863
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	39,847	44,569
Amortization of deferred financing fees	718	760
Income tax provision	71	51
Earnings from unconsolidated joint ventures	(80)	(273)
Distributions received from operations of unconsolidated joint ventures	154	481
Provision for impairment	0	216
Loss on extinguishment of debt	622	0
Gain on sale of real estate	(6,073)	(181)
Amortization of premium on mortgages, net	(484)	(518)
Service-based restricted share expense	1,979	2,886
Long-term incentive cash and equity compensation expense	807	666
Changes in assets and liabilities:
Accounts receivable, net	1,781	1,974
Acquired lease intangibles and other assets, net	(2,703)	(1,958)
Accounts payable, acquired lease intangibles and other liabilities	(12,983)	(6,561)
Net cash provided by operating activities	37,311	53,975
INVESTING ACTIVITIES
Acquisition of real estate	0	(6,365)
Development and capital improvements	(28,956)	(43,914)
Net proceeds from sales of real estate	67,863	1,354
Investment in unconsolidated joint ventures	0	3,000
Net cash provided by (used in) investing activities	38,907	(45,925)
FINANCING ACTIVITIES
Repayments of mortgages and notes payable	(29,417)	(1,267)
Proceeds on revolving credit facility	0	45,000
Repayments on revolving credit facility	0	(15,000)
Proceeds, net of costs, from issuance of common stock	(94)	(25)
Redemption of operating partnership units for cash	0	(7)
Shares used for employee taxes upon vesting of awards	(580)	(651)
Dividends paid to preferred shareholders	(3,350)	(3,350)
Dividends paid to common shareholders and deferred shares	(35,312)	(35,185)
Distributions paid to operating partnership unit holders	(841)	(843)
Net cash used in financing activities	(69,594)	(11,328)
Net change in cash, cash equivalents and restricted cash	6,624	(3,278)
Cash, cash equivalents and restricted cash at beginning of period	44,722	12,891
Cash, cash equivalents and restricted cash at end of period	51,346	9,613
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest (net of capitalized interest of $60 and $576 in 2019 and 2018, respectively)	20,599	18,383
Deferred gain recognized in equity	$ 0	$ 2,160

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - Reconciliation of Cash, Cash Equivalents and Restricted Cash - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 47,072	$ 41,064	$ 5,252
Restricted cash and escrows	4,274	3,658	4,361
Cash, cash equivalents, and restricted cash	$ 51,346	$ 44,722	$ 9,613	$ 12,891

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Cash Flows [Abstract]
Cash paid for interest, capitalized interest	$ 60	$ 576

Organization and Basis of Prese

Organization and Basis of Presentations	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization and Basis of Presentations	Organization and Basis of Presentations Organization RPT Realty, together with its subsidiaries (the “Company” or “RPT”), is a real estate investment trust (“REIT”) engaged in the business of owning and operating a national portfolio of dynamic open-air shopping destinations principally located in the top U.S. markets. The Company's locally-curated consumer experience reflects 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 June 30, 2019 , the Company's portfolio consisted of 49 shopping centers (including one shopping center owned through a joint venture) representing 11.9 million square feet. As of June 30, 2019 , the Company’s aggregate portfolio was 95.0% leased. Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of the Company and our majority owned subsidiary, the operating partnership, RPT Realty, L.P. (the “OP”) ( 97.7% owned by the Company at June 30, 2019 and December 31, 2018 ), 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, 2018 . 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. Reclassifications Certain amounts in the prior period have been reclassified in order to conform with the current period’s presentation. The Company reclassified $0.7 million and $1.4 million , respectively, of expense associated with property related employee compensation and benefits from General and administrative expense to Non-recoverable operating expense for the three and six months ended June 30, 2018 . Recently Adopted Accounting Pronouncements In June 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-07, “Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” which expanded the scope of Topic 718, Compensation-Stock Compensation (which previously only included 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 is now substantially aligned. This standard became effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The adoption of this standard did not have a material impact 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 incremental direct leasing costs. In addition, the following ASUs were subsequently issued related to ASC Topic 842, all of which were 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, does 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 provides lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if the non-lease 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. • In December 2018, the FASB issued ASU 2018-20, “Leases (Topic 842): Narrow-Scope Improvements for Lessors,” which addresses specific issues in the leasing guidance, including sales taxes and other similar taxes collected from lessees, certain lessor costs paid directly by lessees, and recognition of variable payments for contracts with lease and non-lease components. This standard became effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Company has elected the practical expedients allowable under ASU 2018-01 and ASU 2018-11, which included the optional transition method permitting January 1, 2019 to be its initial application date. On January 1, 2019, the Company elected the single component practical expedient, which requires a lessor, by class of underlying asset, not to allocate the total consideration to the lease and non-lease components based on their relative stand-alone selling prices. This single component practical expedient requires the Company to account for the lease component and non-lease component(s) associated with that lease as a single component if (i) the timing and pattern of transfer of the lease component and the non-lease component(s) associated with it are the same and (ii) the lease component would be classified as an operating lease if it were accounted for separately. If these criteria are met, and the lease component is predominant, the lease is accounted for under ASC 842. As a result of this assessment, minimum rent and recovery income from the lease of real estate assets that qualify for this expedient are accounted for as a single component under ASC 842, with recovery income primarily as variable consideration. The Company’s operating leases commencing or modified after January 1, 2019, for which the Company is the lessor, qualify for the single component practical expedient accounting under ASC 842. Based on the Company’s election of available practical expedients, the Company’s existing operating leases whereby it is the lessor continue to be accounted for as operating leases under ASC 842. However, ASC 842 changed certain requirements regarding lease classification for lessors that could result in the Company classifying certain future leases transacted or modified subsequent to adoption of the standard, particularly long-term ground leases, as sales-type or direct financing leases as opposed to operating leases. Prior to the adoption of ASC 842, the Company recognized tenant recovery income regardless of whether the third party was paid by the lessor or lessee. Effective January 1, 2019, such tenant recoveries are only recognized to the extent that the Company pays the third party directly and are classified as rental income on the Company’s condensed consolidated income statement. Under ASC 842, lessors are required to continually assess collectibility of lessee payments and, if operating lease payments are not probable of collection, to only recognize into income the lesser of (i) straight-line rental income or (ii) lease payments received to date. Additionally, only incremental direct leasing costs are now capitalized under this new guidance, and the Company recognized a cumulative effect adjustment of approximately $0.3 million to shareholders' equity, primarily related to certain costs associated with unexecuted leases that were deferred as of the adoption date. For leases where the Company is a lessee, primarily the Company’s ground lease and administrative office leases, the Company recorded an operating lease liability of $16.6 million and a operating lease right-of-use asset of $18.0 million upon adoption, which were initially measured at the present value of future lease payments. The right-of-use asset was recorded net of our existing straight-line rent liability and ground lease intangible asset. The present value of future lease payments was discounted using our incremental borrowing rate on a collateralized basis over a similar term in a similar environment. For leases with a term of 12 months or less, the Company has made a policy election to not recognize lease liabilities and lease assets. For our existing ground and office operating leases, we have continued to recognize straight-line rent expense within non-recoverable operating expenses and general and administrative expenses, respectively, within our condensed consolidated statement of operations. Recent Accounting Pronouncements In August 2018, the FASB issued 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 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. In addition, in November 2018 the FASB issued ASU 2018-19, which clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with the leases standard. The adoption of ASU 2016-13 is not expected to have a material impact on our consolidated financial statements.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2019
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 progress and land available for development. 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, net operating income, real estate values and expected holding period. For the three and six months ended June 30, 2019 we recorded no impairment provision. For the three and six months ended June 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. Land available for development 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 or outparcel pad. The viability of all projects under construction or development is regularly evaluated under applicable accounting requirements, including requirements relating to abandonment of assets or changes in use. Land available for development was $28.5 million and $29.5 million at June 30, 2019 and December 31, 2018 , 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 $21.1 million and $23.7 million at June 30, 2019 and December 31, 2018 , respectively. The decrease in construction in progress from December 31, 2018 to June 30, 2019 was due primarily to the completion of ongoing expansion projects and property dispositions, partially offset by capital expenditures for ongoing projects. 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 and probable of closing within one year of the reporting date. As of June 30, 2019 , and December 31, 2018 , we had no properties and no

Property Acquisitions and Dispo

Property Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Property Acquisitions and Dispositions	Property Acquisitions and Dispositions Acquisitions There were no acquisitions in the six months ended June 30, 2019 . Dispositions The following table provides a summary of our disposition activity in the six months ended June 30, 2019 : Gross Property Name Location GLA Acreage Date Sold Sales Price Gain on Sale (in thousands) (In thousands) East Town Plaza Madison, WI 217 N/A 02/20/19 $ 13,500 $ 1,169 The Shoppes at Fox River Waukesha, WI 332 N/A 03/06/19 55,000 4,533 Total income producing dispositions 549 N/A $ 68,500 $ 5,702 Hartland - Outparcel Hartland, MI N/A 1.1 06/28/19 $ 875 $ 371 Total outparcel dispositions — 1.1 $ 875 $ 371 Total dispositions 549 1.1 $ 69,375 $ 6,073

Equity Investments in Unconsoli

Equity Investments in Unconsolidated Joint Ventures	6 Months Ended
	Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments in Unconsolidated Joint Ventures	Equity Investments in Unconsolidated Joint Ventures We are an investor in three joint venture agreements: 1) Ramco/Lion Venture LP, 2) Ramco 450 Venture LLC, and 3) Ramco HHF NP LLC, 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. The combined condensed financial information for our unconsolidated joint ventures is summarized as follows: Balance Sheets June 30, 2019 December 31, 2018 (In thousands) ASSETS Investment in real estate, net $ 22,373 $ 22,591 Other assets 1,551 2,099 Total Assets $ 23,924 $ 24,690 LIABILITIES AND OWNERS' EQUITY Total liabilities $ 113 $ 525 Owners' equity 23,811 24,165 Total Liabilities and Owners' Equity $ 23,924 $ 24,690 RPT's equity investments in unconsolidated joint ventures $ 1,492 $ 1,572 Three Months Ended June 30, Six Months Ended June 30, Statements of Operations 2019 2018 2019 2018 (In thousands) (In thousands) Total revenue $ 688 $ 1,235 $ 1,482 $ 2,422 Total expenses 385 867 781 1,615 Net income $ 303 $ 368 $ 701 $ 807 RPT's share of earnings from unconsolidated joint ventures $ 26 $ 202 $ 80 $ 273 The decline in RPT's share of earnings for the period presented is attributable to the sale of a joint venture shopping center in July 2018. Acquisitions There was no acquisition activity in the six months ended June 30, 2019 by any of our unconsolidated joint ventures. Dispositions There was no disposition activity in the six months ended June 30, 2019 by any of our unconsolidated joint ventures. 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) (In thousands) Management fees $ 37 $ 48 $ 64 $ 94 Leasing fees 2 — 2 40 Construction fees — — 24 — Total $ 39 $ 48 $ 90 $ 134

Debt

Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The following table summarizes our mortgages, notes payable and finance lease obligation as of June 30, 2019 and December 31, 2018 : Notes Payable and Finance Lease Obligation June 30, December 31, (In thousands) Senior unsecured notes $ 610,000 $ 610,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 113,842 115,134 Unsecured revolving credit facility — — Junior subordinated notes — 28,125 933,842 963,259 Unamortized premium 2,464 2,948 Unamortized deferred financing costs (2,083 ) (3,058 ) Total notes payable $ 934,223 $ 963,149 Finance lease obligation $ 975 $ 975 Senior Unsecured Notes The following table summarizes the Company's senior unsecured notes: June 30, 2019 December 31, 2018 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 6/27/2021 $ 37,000 3.75 % $ 37,000 3.75 % Senior unsecured notes 12/21/2022 25,000 4.13 % 25,000 4.13 % Senior unsecured notes 6/27/2023 41,500 4.12 % 41,500 4.12 % Senior unsecured notes 5/28/2024 50,000 4.65 % 50,000 4.65 % Senior unsecured notes 11/4/2024 50,000 4.16 % 50,000 4.16 % Senior unsecured notes 11/18/2024 25,000 4.05 % 25,000 4.05 % Senior unsecured notes 6/27/2025 31,500 4.27 % 31,500 4.27 % Senior unsecured notes 7/6/2025 50,000 4.20 % 50,000 4.20 % Senior unsecured notes 9/30/2025 50,000 4.09 % 50,000 4.09 % Senior unsecured notes 5/28/2026 50,000 4.74 % 50,000 4.74 % Senior unsecured notes 11/4/2026 50,000 4.30 % 50,000 4.30 % Senior unsecured notes 11/18/2026 25,000 4.28 % 25,000 4.28 % Senior unsecured notes 12/21/2027 30,000 4.57 % 30,000 4.57 % Senior unsecured notes 11/30/2028 75,000 3.64 % 75,000 3.64 % Senior unsecured notes 12/21/2029 20,000 4.72 % 20,000 4.72 % $ 610,000 4.21 % $ 610,000 4.21 % Unamortized deferred financing costs (1,415 ) (1,546 ) Total $ 608,585 $ 608,454 Unsecured Term Loan Facilities and Revolving Credit Facility The following table summarizes the Company's unsecured term loan facilities and revolving credit facility: June 30, 2019 December 31, 2018 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 - fixed rate (1) 5/16/2020 $ 75,000 2.99 % $ 75,000 2.99 % Unsecured term loan - fixed rate (2) 5/29/2021 75,000 2.79 % 75,000 2.84 % Unsecured term loan - fixed rate (3) 3/1/2023 60,000 3.37 % 60,000 3.42 % $ 210,000 3.03 % $ 210,000 3.06 % Unamortized deferred financing costs (624 ) (808 ) Term loans, net $ 209,376 $ 209,192 Revolving credit facility - variable rate 9/14/2021 $ — 3.70 % — 3.81 % (1) Swapped to a weighted average fixed rate of 1.69% , plus a credit spread of 1.30% , based on a leverage grid at June 30, 2019 . (2) Swapped to a weighted average fixed rate of 1.49% , plus a credit spread of 1.30% , based on a leverage grid at June 30, 2019 . (3) Swapped to a weighted average fixed rate of 1.77% , plus a credit spread of 1.60% , based on a leverage grid at June 30, 2019 . As of June 30, 2019 and December 31, 2018 , we had no balance outstanding under our revolving credit facility. 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 $349.8 million of availability under our revolving credit facility. The interest rate as of June 30, 2019 was 3.70% . Mortgages The following table summarizes the Company's fixed rate mortgages: June 30, 2019 December 31, 2018 Mortgage Debt Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) West Oaks II and Spring Meadows Place 4/20/2020 $ 25,378 6.50 % $ 25,804 6.50 % Bridgewater Falls Shopping Center 2/6/2022 53,972 5.70 % 54,514 5.70 % The Shops on Lane Avenue 1/10/2023 28,650 3.76 % 28,650 3.76 % Nagawaukee II 6/1/2026 5,842 5.80 % 6,166 5.80 % $ 113,842 5.39 % $ 115,134 5.40 % Unamortized premium 2,464 2,948 Unamortized deferred financing costs (44 ) (73 ) Total $ 116,262 $ 118,009 The fixed rate mortgages are secured by properties that have an approximate net book value of $179.6 million as of June 30, 2019 . 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 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 a mortgage loan which is secured by two properties and contains cross-collateralization and cross-default provisions. Cross-collateralization provisions allow a lender to foreclose on both 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 On April 30, 2019, we redeemed all of our outstanding junior subordinated notes due 2038, which accrued interest at a variable rate of LIBOR plus 3.30% for an aggregate purchase price of $28.6 million , consisting of the outstanding principal amount and accrued and unpaid interest as of the redemption date. In conjunction with this redemption, we wrote off unamortized deferred financing costs of $0.6 million , which is included as loss on extinguishment of debt in the condensed consolidated statement of operations. Covenants 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 June 30, 2019 , we were in compliance with these covenants. Debt Maturities The following table presents scheduled principal payments on mortgages and notes payable as of June 30, 2019 : Year Ending December 31, (In thousands) 2019 $ 1,319 2020 102,269 2021 114,508 2022 77,397 2023 129,388 Thereafter 508,961 Subtotal debt 933,842 Unamortized premium 2,464 Unamortized deferred financing costs (2,083 ) Total debt $ 934,223

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 . Total Fair Value Level 2 Balance Sheet Location June 30, 2019 (In thousands) Derivative assets - interest rate swaps Other assets $ 451 $ 451 Derivative liabilities - interest rate swaps Other liabilities $ (409 ) $ (409 ) December 31, 2018 Derivative assets - interest rate swaps Other assets $ 4,115 $ 4,115 Derivative liabilities - interest rate swaps Other liabilities $ — $ — 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 $933.8 million and $935.1 million as of June 30, 2019 and December 31, 2018 , respectively, had fair values of approximately $953.6 million and $928.2 million , respectively. We had no variable rate debt outstanding as of June 30, 2019 . Variable rate debt’s fair value is estimated to be the carrying value of $28.1 million as of December 31, 2018 . Subsequent to the redemption of the junior subordinated notes on April 30, 2019, we did no t have any outstanding variable rate debt. 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 six months ended June 30, 2019 , we did not incur any impairment for income producing shopping centers that are required to be measured at fair value on a nonrecurring basis. We did not have any material liabilities that were required to be measured at fair value on a nonrecurring basis during the period.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 , all of our hedges were effective. In July 2017, the Financial Conduct Authority, the authority that regulates LIBOR, announced it intends to stop compelling banks to submit rates for the calculation of LIBOR after 2021. The Alternative Reference Rates Committee (ARRC) has proposed that the Secured Overnight Financing Rate (SOFR) is the rate that represents best practice as the alternative to USD-LIBOR for use in derivatives and other financial contracts that are currently indexed to USD-LIBOR. ARRC has proposed a paced market transition plan to SOFR from USD-LIBOR and organizations are currently working on industry wide and company specific transition plans as it relates to derivatives and cash markets exposed to USD-LIBOR. There is no guarantee that a transition from LIBOR to an alternative will not result in financial market disruptions, significant increases in benchmark rates, or financing costs to borrowers. We have material contracts that are indexed to USD-LIBOR, and we are monitoring this activity and evaluating the related risks. The following table summarizes the notional values and fair values of our derivative financial instruments as of June 30, 2019 : Hedge Type Notional Value Fixed Rate Fair Value Expiration Date Underlying Debt (In thousands) (In thousands) Derivative Assets Unsecured term loan Cash Flow $ 50,000 1.460 % $ 190 05/2020 Unsecured term loan Cash Flow 20,000 1.498 % 66 05/2021 Unsecured term loan Cash Flow 15,000 1.490 % 51 05/2021 Unsecured term loan Cash Flow 40,000 1.480 % 144 05/2021 Total Derivative Assets $ 125,000 $ 451 Derivative Liabilities Unsecured term loan Cash Flow $ 15,000 2.150 % $ (34 ) 05/2020 Unsecured term loan Cash Flow 10,000 2.150 % (23 ) 05/2020 Unsecured term loan Cash Flow 60,000 1.770 % (352 ) 03/2023 Total Derivative Liabilities $ 85,000 $ (409 ) The effect of derivative financial instruments on our condensed consolidated statements of operations for the three months ended June 30, 2019 and 2018 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Derivatives in Cash Flow Hedging Relationship Three Months Ended June 30, Three Months Ended June 30, 2019 2018 2019 2018 (In thousands) (In thousands) Interest rate contracts - assets $ (2,532 ) $ 788 Interest Expense $ 407 $ 124 Interest rate contracts - liabilities (446 ) 10 Interest Expense 37 — Total $ (2,978 ) $ 798 Total $ 444 $ 124 The effect of derivative financial instruments on our condensed consolidated statements of operations for the six months ended June 30, 2019 and 2018 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Derivatives in Cash Flow Hedging Relationship Six Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) (In thousands) Interest rate contracts - assets $ (4,521 ) $ 3,107 Interest Expense $ 857 $ 50 Interest rate contracts - liabilities (446 ) 246 Interest Expense 37 (39 ) Total $ (4,967 ) $ 3,353 Total $ 894 $ 11

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases Revenues Approximate future minimum revenues from rentals under non-cancelable operating leases in effect at June 30, 2019 , assuming no new or renegotiated leases or option extensions on lease agreements and no early lease terminations were as follows: Year Ending December 31, (In thousands) 2019 (remaining) $ 84,681 2020 162,956 2021 145,181 2022 122,521 2023 101,061 Thereafter 347,421 Total $ 963,821 We recognized rental income related to variable lease payments of $28.0 million for the six months ended June 30, 2019 . Substantially all of the assets included as Income producing properties, net on the condensed consolidated balance sheets, relate to our portfolio of wholly owned shopping centers, in which we are the lessor under operating leases with our tenants. As of June 30, 2019 , the Company’s aggregate portfolio was 95.0% leased. Expenses We have operating leases for our two corporate offices that expire in August 2019 and January 2024, and an operating ground lease at Centennial Shops located in Edina, Minnesota which includes rent escalations throughout the lease period and expires in April 2105. We also have an executed, but not yet commenced, operating lease for a new corporate office in Southfield, Michigan which will replace our existing Michigan corporate office when the lease expires in August 2019. The new lease has a 64 month initial term and includes two additional five year renewals which are exercisable at our option. We also have a finance ground lease at our Buttermilk Towne Center with the City of Crescent Springs that expires in December 2032. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expenses for these leases on a straight-line basis over the lease term. The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, Statements of Operations Classification 2019 2018 2019 2018 (In thousands) Operating ground lease cost Non-recoverable operating expense $ 290 $ 290 $ 581 $ 581 Operating administrative lease cost General and administrative expense $ 251 $ 153 $ 484 $ 302 Finance lease cost Interest Expense $ 13 $ 14 $ 26 $ 27 Supplemental balance sheet information related to leases is as follows: Balance Sheet Classification June 30, 2019 (In thousands) ASSETS Operating lease assets Operating lease right-of-use assets $ 17,425 Finance lease asset Land 13,249 Total leased assets $ 30,674 LIABILITIES Operating lease liabilities Operating lease liabilities $ 16,188 Finance lease liability Finance lease liability 975 Total lease liabilities $ 17,163 Weighted Average Remaining Lease Terms Operating leases 77 years Finance lease 14 years Weighted Average Incremental Borrowing Rate Operating leases 6.24 % Finance lease 5.23 % Supplemental cash flow information related to leases is as follows: Six Months Ended June 30, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 917 Operating cash flows from finance lease $ — Financing cash flows from finance lease $ — Maturities of lease liabilities as of June 30, 2019 were as follows: Maturity of Lease Liabilities Operating Leases Finance Lease (In thousands) 2019 (remaining) $ 724 $ 100 2020 1,243 100 2021 1,252 100 2022 1,262 100 2023 1,272 100 Thereafter 94,462 900 Total lease payments $ 100,215 $ 1,400 Less imputed interest (84,027 ) (425 ) Total $ 16,188 $ 975
Leases	Leases Revenues Approximate future minimum revenues from rentals under non-cancelable operating leases in effect at June 30, 2019 , assuming no new or renegotiated leases or option extensions on lease agreements and no early lease terminations were as follows: Year Ending December 31, (In thousands) 2019 (remaining) $ 84,681 2020 162,956 2021 145,181 2022 122,521 2023 101,061 Thereafter 347,421 Total $ 963,821 We recognized rental income related to variable lease payments of $28.0 million for the six months ended June 30, 2019 . Substantially all of the assets included as Income producing properties, net on the condensed consolidated balance sheets, relate to our portfolio of wholly owned shopping centers, in which we are the lessor under operating leases with our tenants. As of June 30, 2019 , the Company’s aggregate portfolio was 95.0% leased. Expenses We have operating leases for our two corporate offices that expire in August 2019 and January 2024, and an operating ground lease at Centennial Shops located in Edina, Minnesota which includes rent escalations throughout the lease period and expires in April 2105. We also have an executed, but not yet commenced, operating lease for a new corporate office in Southfield, Michigan which will replace our existing Michigan corporate office when the lease expires in August 2019. The new lease has a 64 month initial term and includes two additional five year renewals which are exercisable at our option. We also have a finance ground lease at our Buttermilk Towne Center with the City of Crescent Springs that expires in December 2032. Leases with an initial term of 12 months or less are not recorded on the balance sheet; we recognize lease expenses for these leases on a straight-line basis over the lease term. The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, Statements of Operations Classification 2019 2018 2019 2018 (In thousands) Operating ground lease cost Non-recoverable operating expense $ 290 $ 290 $ 581 $ 581 Operating administrative lease cost General and administrative expense $ 251 $ 153 $ 484 $ 302 Finance lease cost Interest Expense $ 13 $ 14 $ 26 $ 27 Supplemental balance sheet information related to leases is as follows: Balance Sheet Classification June 30, 2019 (In thousands) ASSETS Operating lease assets Operating lease right-of-use assets $ 17,425 Finance lease asset Land 13,249 Total leased assets $ 30,674 LIABILITIES Operating lease liabilities Operating lease liabilities $ 16,188 Finance lease liability Finance lease liability 975 Total lease liabilities $ 17,163 Weighted Average Remaining Lease Terms Operating leases 77 years Finance lease 14 years Weighted Average Incremental Borrowing Rate Operating leases 6.24 % Finance lease 5.23 % Supplemental cash flow information related to leases is as follows: Six Months Ended June 30, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 917 Operating cash flows from finance lease $ — Financing cash flows from finance lease $ — Maturities of lease liabilities as of June 30, 2019 were as follows: Maturity of Lease Liabilities Operating Leases Finance Lease (In thousands) 2019 (remaining) $ 724 $ 100 2020 1,243 100 2021 1,252 100 2022 1,262 100 2023 1,272 100 Thereafter 94,462 900 Total lease payments $ 100,215 $ 1,400 Less imputed interest (84,027 ) (425 ) Total $ 16,188 $ 975

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2019
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: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 2,962 $ 4,403 $ 13,655 $ 11,863 Net income attributable to noncontrolling interest (69 ) (101 ) (319 ) (275 ) Allocation of income to restricted share awards (116 ) (128 ) (248 ) (241 ) Income attributable to RPT 2,777 4,174 13,088 11,347 Preferred share dividends (1,675 ) (1,675 ) (3,350 ) (3,350 ) Net income available to common shareholders - Basic and Diluted $ 1,102 $ 2,499 $ 9,738 $ 7,997 Weighted average shares outstanding, Basic 79,764 79,519 79,754 79,471 Restricted stock awards using the treasury method 392 102 394 103 Weighted average shares outstanding, Diluted 80,156 79,621 80,148 79,574 Income per common share, Basic $ 0.01 $ 0.03 $ 0.12 $ 0.10 Income per common share, Diluted $ 0.01 $ 0.03 $ 0.12 $ 0.10 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Outstanding Convertible Outstanding Convertible Outstanding Convertible Outstanding Convertible Operating Partnership Units 1,909 1,909 1,916 1,916 1,909 1,909 1,916 1,916 Series D Preferred Shares 1,849 6,923 1,849 6,803 1,849 6,923 1,849 6,803 Performance Share Units — — 510 67 — — 510 71 3,758 8,832 4,275 8,786 3,758 8,832 4,275 8,790

Share-based Compensation Plans

Share-based Compensation Plans	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based Compensation Plans	Share-based Compensation Plans As of June 30, 2019 , we have two share-based compensation plans in effect: 1) the 2019 Omnibus Long-Term Incentive Plan (“2019 LTIP”) and 2) the Inducement Incentive Plan (“Inducement Plan”). On April 29, 2019, our shareholders approved the 2019 LTIP, which replaces the 2012 Omnibus Long-Term Incentive Plan (the “2012 LTIP”). The 2019 LTIP will be administered by the compensation committee of the Board. The 2019 LTIP provides for the award to our trustees, officers, employees and other service providers of restricted shares, restricted share units, options to purchase shares, share appreciation rights, unrestricted shares, and other awards to acquire up to an aggregate of 3.5 million common shares of beneficial interest plus any shares that become available under the 2012 LTIP as a result of the forfeiture, expiration or cancellation of outstanding awards or any award settled in cash in lieu of shares. The Inducement Plan was approved by the Board of Trustees in April 2018 and under such plan 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 to the individual’s entry into employment with the Company. 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 June 30, 2019 ; however, we do not intend to make further awards under the Inducement Plan following adoption of the 2019 LTIP. As of June 30, 2019 , we had no unvested service-based share awards outstanding under the 2019 LTIP, 151,683 unvested service-based share awards outstanding under the Inducement Plan, and 283,479 unvested service-based share awards outstanding under the 2012 LTIP. These awards have various expiration dates through March 2023. During the six months ended June 30, 2019 , we granted the following awards: • 207,230 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 $2.2 million for the three months ended June 30, 2019 and June 30, 2018 , respectively, and an expense of $2.0 million and $2.9 million for the six months ended June 30, 2019 and June 30, 2018 , 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 $0.2 million and $0.4 million for the three months ended June 30, 2019 and June 30, 2018 , respectively, and a (benefit) expense of $(0.1) million and $0.4 million for the six months ended June 30, 2019 and June 30, 2018 , respectively. The weighted average assumptions used in the Monte Carlo simulation models are summarized in the following table: June 30, 2019 December 31, 2018 Closing share price $12.11 $11.95 Expected dividend rate 7.3 % 7.4 % Expected stock price volatility 22.7% - 23.7% 24.9 % Risk-free interest rate 1.7% - 2.1% 2.6 % Expected life (years) 0.50 - 2.50 1.00 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 $0.2 million for the three months ended June 30, 2019 and June 30, 2018 , respectively, and expense of $0.9 million and $0.3 million for the six months ended June 30, 2019 and June 30, 2018 , respectively. The fair value of each grant for the reported periods is estimated on the date of grant using the Monte Carlo simulation model using the weighted average assumptions noted in the following table. Six Months Ended June 30, 2019 2018 Closing share price $12.05 $11.89 - $12.71 Expected dividend rate 7.3 % 6.9% - 7.4% Expected stock price volatility 22.9 % 21.5% - 21.8% Risk-free interest rate 2.5 % 2.3% - 2.6% Expected life (years) 2.85 2.55 - 2.85 We recognized total share-based compensation expense of $1.6 million and $2.8 million for the three months ended June 30, 2019 and June 30, 2018 , respectively and $2.8 million and $3.6 million for the six months ended June 30, 2019 and June 30, 2018 , respectively. As of June 30, 2019 , we had $7.4 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 2.2

Taxes

Taxes	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 , we had a federal and state deferred tax asset of $7.8 million and a valuation allowance of $7.8 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 consolidated statement of operations in the period we make the determination. We recorded income tax provisions of approximately $0.1 million for both the six months ended June 30, 2019 and 2018 . Sales Taxes We collect various taxes from tenants and remit these amounts, on a net basis, to the applicable taxing authorities.

Executive Reorganization

Executive Reorganization	6 Months Ended
	Jun. 30, 2019
Reorganizations [Abstract]
Executive Reorganization	Executive Reorganization In connection with the reorganization of the executive management team, we recorded one-time employee termination benefits of $0.6 million for the three and six months ended June 30, 2019 and $6.3 million for the three and six months ended June 30, 2018 . Such charges are reflected in the condensed consolidated statements of operations in general and administrative expense.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 , we had entered into agreements for construction costs of approximately $9.0 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. Development Obligations As of June 30, 2019 , the Company has $2.2 million of development related obligations that require annual payments through December 2034. Guarantee A redevelopment agreement was entered into between the City of Jacksonville, the Jacksonville Economic Development Commission and the Company, to construct and develop River City Marketplace in 2005. As part of the agreement, the city agreed to finance up to $12.2 million of bonds. Repayment of the bonds is to be made in accordance with a level-payment amortization schedule over 20 years, and repayments are made out of tax revenues generated by the redevelopment. The remaining debt service payments due over the life of the bonds, including principal and interest, are $10.1 million . As part of the redevelopment, the Company executed a guaranty agreement whereby the Company would fund debt service payments if incremental tax revenues were not sufficient to fund repayment. There have been no payments made by the Company under this guaranty agreement to date. Environmental Matters We are subject to numerous federal, state and local environmental laws, ordinances and regulations in the areas where we own or operate properties. We are not aware of any contamination which may have been caused by us or any of our tenants that would have a material effect on our consolidated financial statements. As part of our risk management activities, we have applied and been accepted into state sponsored environmental programs which will expedite and assure satisfactory compliance with environmental laws and regulations should contaminants need to be remediated. We also have an environmental insurance policy that covers us against third party liabilities and remediation costs. While we believe that we do not have any material exposure to environmental remediation costs, we cannot give absolute assurance that changes in the law or new discoveries of contamination will not result in additional liabilities to us.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
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)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization	Organization
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, RPT Realty, L.P. (the “OP”) ( 97.7% owned by the Company at June 30, 2019 and December 31, 2018 ), 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, 2018 . The preparation of our unaudited financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management of the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited financial statements and the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and reported amounts that are not readily apparent from other sources. Actual results could differ from those estimates.
Recently Adopted and Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-07, “Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting,” which expanded the scope of Topic 718, Compensation-Stock Compensation (which previously only included 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 is now substantially aligned. This standard became effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The adoption of this standard did not have a material impact 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 incremental direct leasing costs. In addition, the following ASUs were subsequently issued related to ASC Topic 842, all of which were 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, does 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 provides lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component and, instead, to account for those components as a single component if the non-lease 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. • In December 2018, the FASB issued ASU 2018-20, “Leases (Topic 842): Narrow-Scope Improvements for Lessors,” which addresses specific issues in the leasing guidance, including sales taxes and other similar taxes collected from lessees, certain lessor costs paid directly by lessees, and recognition of variable payments for contracts with lease and non-lease components. This standard became effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Company has elected the practical expedients allowable under ASU 2018-01 and ASU 2018-11, which included the optional transition method permitting January 1, 2019 to be its initial application date. On January 1, 2019, the Company elected the single component practical expedient, which requires a lessor, by class of underlying asset, not to allocate the total consideration to the lease and non-lease components based on their relative stand-alone selling prices. This single component practical expedient requires the Company to account for the lease component and non-lease component(s) associated with that lease as a single component if (i) the timing and pattern of transfer of the lease component and the non-lease component(s) associated with it are the same and (ii) the lease component would be classified as an operating lease if it were accounted for separately. If these criteria are met, and the lease component is predominant, the lease is accounted for under ASC 842. As a result of this assessment, minimum rent and recovery income from the lease of real estate assets that qualify for this expedient are accounted for as a single component under ASC 842, with recovery income primarily as variable consideration. The Company’s operating leases commencing or modified after January 1, 2019, for which the Company is the lessor, qualify for the single component practical expedient accounting under ASC 842. Based on the Company’s election of available practical expedients, the Company’s existing operating leases whereby it is the lessor continue to be accounted for as operating leases under ASC 842. However, ASC 842 changed certain requirements regarding lease classification for lessors that could result in the Company classifying certain future leases transacted or modified subsequent to adoption of the standard, particularly long-term ground leases, as sales-type or direct financing leases as opposed to operating leases. Prior to the adoption of ASC 842, the Company recognized tenant recovery income regardless of whether the third party was paid by the lessor or lessee. Effective January 1, 2019, such tenant recoveries are only recognized to the extent that the Company pays the third party directly and are classified as rental income on the Company’s condensed consolidated income statement. Under ASC 842, lessors are required to continually assess collectibility of lessee payments and, if operating lease payments are not probable of collection, to only recognize into income the lesser of (i) straight-line rental income or (ii) lease payments received to date. Additionally, only incremental direct leasing costs are now capitalized under this new guidance, and the Company recognized a cumulative effect adjustment of approximately $0.3 million to shareholders' equity, primarily related to certain costs associated with unexecuted leases that were deferred as of the adoption date. For leases where the Company is a lessee, primarily the Company’s ground lease and administrative office leases, the Company recorded an operating lease liability of $16.6 million and a operating lease right-of-use asset of $18.0 million upon adoption, which were initially measured at the present value of future lease payments. The right-of-use asset was recorded net of our existing straight-line rent liability and ground lease intangible asset. The present value of future lease payments was discounted using our incremental borrowing rate on a collateralized basis over a similar term in a similar environment. For leases with a term of 12 months or less, the Company has made a policy election to not recognize lease liabilities and lease assets. For our existing ground and office operating leases, we have continued to recognize straight-line rent expense within non-recoverable operating expenses and general and administrative expenses, respectively, within our condensed consolidated statement of operations. Recent Accounting Pronouncements In August 2018, the FASB issued 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 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. In addition, in November 2018 the FASB issued ASU 2018-19, which clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with the leases standard. The adoption of ASU 2016-13 is not expected to have a material impact on our consolidated financial statements.

Property Acquisitions and Dis_2

Property Acquisitions and Dispositions (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of Disposition Activity	The following table provides a summary of our disposition activity in the six months ended June 30, 2019 : Gross Property Name Location GLA Acreage Date Sold Sales Price Gain on Sale (in thousands) (In thousands) East Town Plaza Madison, WI 217 N/A 02/20/19 $ 13,500 $ 1,169 The Shoppes at Fox River Waukesha, WI 332 N/A 03/06/19 55,000 4,533 Total income producing dispositions 549 N/A $ 68,500 $ 5,702 Hartland - Outparcel Hartland, MI N/A 1.1 06/28/19 $ 875 $ 371 Total outparcel dispositions — 1.1 $ 875 $ 371 Total dispositions 549 1.1 $ 69,375 $ 6,073

Equity Investments in Unconso_2

Equity Investments in Unconsolidated Joint Ventures (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 December 31, 2018 (In thousands) ASSETS Investment in real estate, net $ 22,373 $ 22,591 Other assets 1,551 2,099 Total Assets $ 23,924 $ 24,690 LIABILITIES AND OWNERS' EQUITY Total liabilities $ 113 $ 525 Owners' equity 23,811 24,165 Total Liabilities and Owners' Equity $ 23,924 $ 24,690 RPT's equity investments in unconsolidated joint ventures $ 1,492 $ 1,572
Summary of Combined Financial Information for Unconsolidated Entities, Statements of Operations	Three Months Ended June 30, Six Months Ended June 30, Statements of Operations 2019 2018 2019 2018 (In thousands) (In thousands) Total revenue $ 688 $ 1,235 $ 1,482 $ 2,422 Total expenses 385 867 781 1,615 Net income $ 303 $ 368 $ 701 $ 807 RPT's share of earnings from unconsolidated joint ventures $ 26 $ 202 $ 80 $ 273
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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) (In thousands) Management fees $ 37 $ 48 $ 64 $ 94 Leasing fees 2 — 2 40 Construction fees — — 24 — Total $ 39 $ 48 $ 90 $ 134

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes our mortgages, notes payable and finance lease obligation as of June 30, 2019 and December 31, 2018 : Notes Payable and Finance Lease Obligation June 30, December 31, (In thousands) Senior unsecured notes $ 610,000 $ 610,000 Unsecured term loan facilities 210,000 210,000 Fixed rate mortgages 113,842 115,134 Unsecured revolving credit facility — — Junior subordinated notes — 28,125 933,842 963,259 Unamortized premium 2,464 2,948 Unamortized deferred financing costs (2,083 ) (3,058 ) Total notes payable $ 934,223 $ 963,149 Finance lease obligation $ 975 $ 975 The following table summarizes the Company's unsecured term loan facilities and revolving credit facility: June 30, 2019 December 31, 2018 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 - fixed rate (1) 5/16/2020 $ 75,000 2.99 % $ 75,000 2.99 % Unsecured term loan - fixed rate (2) 5/29/2021 75,000 2.79 % 75,000 2.84 % Unsecured term loan - fixed rate (3) 3/1/2023 60,000 3.37 % 60,000 3.42 % $ 210,000 3.03 % $ 210,000 3.06 % Unamortized deferred financing costs (624 ) (808 ) Term loans, net $ 209,376 $ 209,192 Revolving credit facility - variable rate 9/14/2021 $ — 3.70 % — 3.81 % (1) Swapped to a weighted average fixed rate of 1.69% , plus a credit spread of 1.30% , based on a leverage grid at June 30, 2019 . (2) Swapped to a weighted average fixed rate of 1.49% , plus a credit spread of 1.30% , based on a leverage grid at June 30, 2019 . (3) Swapped to a weighted average fixed rate of 1.77% , plus a credit spread of 1.60% , based on a leverage grid at June 30, 2019 . The following table summarizes the Company's senior unsecured notes: June 30, 2019 December 31, 2018 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 6/27/2021 $ 37,000 3.75 % $ 37,000 3.75 % Senior unsecured notes 12/21/2022 25,000 4.13 % 25,000 4.13 % Senior unsecured notes 6/27/2023 41,500 4.12 % 41,500 4.12 % Senior unsecured notes 5/28/2024 50,000 4.65 % 50,000 4.65 % Senior unsecured notes 11/4/2024 50,000 4.16 % 50,000 4.16 % Senior unsecured notes 11/18/2024 25,000 4.05 % 25,000 4.05 % Senior unsecured notes 6/27/2025 31,500 4.27 % 31,500 4.27 % Senior unsecured notes 7/6/2025 50,000 4.20 % 50,000 4.20 % Senior unsecured notes 9/30/2025 50,000 4.09 % 50,000 4.09 % Senior unsecured notes 5/28/2026 50,000 4.74 % 50,000 4.74 % Senior unsecured notes 11/4/2026 50,000 4.30 % 50,000 4.30 % Senior unsecured notes 11/18/2026 25,000 4.28 % 25,000 4.28 % Senior unsecured notes 12/21/2027 30,000 4.57 % 30,000 4.57 % Senior unsecured notes 11/30/2028 75,000 3.64 % 75,000 3.64 % Senior unsecured notes 12/21/2029 20,000 4.72 % 20,000 4.72 % $ 610,000 4.21 % $ 610,000 4.21 % Unamortized deferred financing costs (1,415 ) (1,546 ) Total $ 608,585 $ 608,454 The following table summarizes the Company's fixed rate mortgages: June 30, 2019 December 31, 2018 Mortgage Debt Maturity Date Principal Balance Interest Rate/Weighted Average Interest Rate Principal Balance Interest Rate/Weighted Average Interest Rate (in thousands) (in thousands) West Oaks II and Spring Meadows Place 4/20/2020 $ 25,378 6.50 % $ 25,804 6.50 % Bridgewater Falls Shopping Center 2/6/2022 53,972 5.70 % 54,514 5.70 % The Shops on Lane Avenue 1/10/2023 28,650 3.76 % 28,650 3.76 % Nagawaukee II 6/1/2026 5,842 5.80 % 6,166 5.80 % $ 113,842 5.39 % $ 115,134 5.40 % Unamortized premium 2,464 2,948 Unamortized deferred financing costs (44 ) (73 ) Total $ 116,262 $ 118,009
Scheduled Principal Payments on Mortgages and Notes Payable	The following table presents scheduled principal payments on mortgages and notes payable as of June 30, 2019 : Year Ending December 31, (In thousands) 2019 $ 1,319 2020 102,269 2021 114,508 2022 77,397 2023 129,388 Thereafter 508,961 Subtotal debt 933,842 Unamortized premium 2,464 Unamortized deferred financing costs (2,083 ) Total debt $ 934,223

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 . Total Fair Value Level 2 Balance Sheet Location June 30, 2019 (In thousands) Derivative assets - interest rate swaps Other assets $ 451 $ 451 Derivative liabilities - interest rate swaps Other liabilities $ (409 ) $ (409 ) December 31, 2018 Derivative assets - interest rate swaps Other assets $ 4,115 $ 4,115 Derivative liabilities - interest rate swaps Other liabilities $ — $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 : Hedge Type Notional Value Fixed Rate Fair Value Expiration Date Underlying Debt (In thousands) (In thousands) Derivative Assets Unsecured term loan Cash Flow $ 50,000 1.460 % $ 190 05/2020 Unsecured term loan Cash Flow 20,000 1.498 % 66 05/2021 Unsecured term loan Cash Flow 15,000 1.490 % 51 05/2021 Unsecured term loan Cash Flow 40,000 1.480 % 144 05/2021 Total Derivative Assets $ 125,000 $ 451 Derivative Liabilities Unsecured term loan Cash Flow $ 15,000 2.150 % $ (34 ) 05/2020 Unsecured term loan Cash Flow 10,000 2.150 % (23 ) 05/2020 Unsecured term loan Cash Flow 60,000 1.770 % (352 ) 03/2023 Total Derivative Liabilities $ 85,000 $ (409 )
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 June 30, 2019 and 2018 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Derivatives in Cash Flow Hedging Relationship Three Months Ended June 30, Three Months Ended June 30, 2019 2018 2019 2018 (In thousands) (In thousands) Interest rate contracts - assets $ (2,532 ) $ 788 Interest Expense $ 407 $ 124 Interest rate contracts - liabilities (446 ) 10 Interest Expense 37 — Total $ (2,978 ) $ 798 Total $ 444 $ 124 The effect of derivative financial instruments on our condensed consolidated statements of operations for the six months ended June 30, 2019 and 2018 is summarized as follows: Amount of Gain (Loss) Recognized in OCI on Derivative Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Derivatives in Cash Flow Hedging Relationship Six Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (In thousands) (In thousands) Interest rate contracts - assets $ (4,521 ) $ 3,107 Interest Expense $ 857 $ 50 Interest rate contracts - liabilities (446 ) 246 Interest Expense 37 (39 ) Total $ (4,967 ) $ 3,353 Total $ 894 $ 11

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lessor, Operating Lease, Payments to be Received, Maturity	Approximate future minimum revenues from rentals under non-cancelable operating leases in effect at June 30, 2019 , assuming no new or renegotiated leases or option extensions on lease agreements and no early lease terminations were as follows: Year Ending December 31, (In thousands) 2019 (remaining) $ 84,681 2020 162,956 2021 145,181 2022 122,521 2023 101,061 Thereafter 347,421 Total $ 963,821
Lease, Cost	The components of lease expense were as follows: Three Months Ended June 30, Six Months Ended June 30, Statements of Operations Classification 2019 2018 2019 2018 (In thousands) Operating ground lease cost Non-recoverable operating expense $ 290 $ 290 $ 581 $ 581 Operating administrative lease cost General and administrative expense $ 251 $ 153 $ 484 $ 302 Finance lease cost Interest Expense $ 13 $ 14 $ 26 $ 27 Supplemental cash flow information related to leases is as follows: Six Months Ended June 30, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 917 Operating cash flows from finance lease $ — Financing cash flows from finance lease $ —
Assets and Liabilities, Lessee	Supplemental balance sheet information related to leases is as follows: Balance Sheet Classification June 30, 2019 (In thousands) ASSETS Operating lease assets Operating lease right-of-use assets $ 17,425 Finance lease asset Land 13,249 Total leased assets $ 30,674 LIABILITIES Operating lease liabilities Operating lease liabilities $ 16,188 Finance lease liability Finance lease liability 975 Total lease liabilities $ 17,163 Weighted Average Remaining Lease Terms Operating leases 77 years Finance lease 14 years Weighted Average Incremental Borrowing Rate Operating leases 6.24 % Finance lease 5.23 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities as of June 30, 2019 were as follows: Maturity of Lease Liabilities Operating Leases Finance Lease (In thousands) 2019 (remaining) $ 724 $ 100 2020 1,243 100 2021 1,252 100 2022 1,262 100 2023 1,272 100 Thereafter 94,462 900 Total lease payments $ 100,215 $ 1,400 Less imputed interest (84,027 ) (425 ) Total $ 16,188 $ 975
Finance Lease, Liability, Maturity	Maturities of lease liabilities as of June 30, 2019 were as follows: Maturity of Lease Liabilities Operating Leases Finance Lease (In thousands) 2019 (remaining) $ 724 $ 100 2020 1,243 100 2021 1,252 100 2022 1,262 100 2023 1,272 100 Thereafter 94,462 900 Total lease payments $ 100,215 $ 1,400 Less imputed interest (84,027 ) (425 ) Total $ 16,188 $ 975

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2019
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: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 2,962 $ 4,403 $ 13,655 $ 11,863 Net income attributable to noncontrolling interest (69 ) (101 ) (319 ) (275 ) Allocation of income to restricted share awards (116 ) (128 ) (248 ) (241 ) Income attributable to RPT 2,777 4,174 13,088 11,347 Preferred share dividends (1,675 ) (1,675 ) (3,350 ) (3,350 ) Net income available to common shareholders - Basic and Diluted $ 1,102 $ 2,499 $ 9,738 $ 7,997 Weighted average shares outstanding, Basic 79,764 79,519 79,754 79,471 Restricted stock awards using the treasury method 392 102 394 103 Weighted average shares outstanding, Diluted 80,156 79,621 80,148 79,574 Income per common share, Basic $ 0.01 $ 0.03 $ 0.12 $ 0.10 Income per common share, Diluted $ 0.01 $ 0.03 $ 0.12 $ 0.10
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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Outstanding Convertible Outstanding Convertible Outstanding Convertible Outstanding Convertible Operating Partnership Units 1,909 1,909 1,916 1,916 1,909 1,909 1,916 1,916 Series D Preferred Shares 1,849 6,923 1,849 6,803 1,849 6,923 1,849 6,803 Performance Share Units — — 510 67 — — 510 71 3,758 8,832 4,275 8,786 3,758 8,832 4,275 8,790

Share-based Compensation Plans

Share-based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The weighted average assumptions used in the Monte Carlo simulation models are summarized in the following table: June 30, 2019 December 31, 2018 Closing share price $12.11 $11.95 Expected dividend rate 7.3 % 7.4 % Expected stock price volatility 22.7% - 23.7% 24.9 % Risk-free interest rate 1.7% - 2.1% 2.6 % Expected life (years) 0.50 - 2.50 1.00 Six Months Ended June 30, 2019 2018 Closing share price $12.05 $11.89 - $12.71 Expected dividend rate 7.3 % 6.9% - 7.4% Expected stock price volatility 22.9 % 21.5% - 21.8% Risk-free interest rate 2.5 % 2.3% - 2.6% Expected life (years) 2.85 2.55 - 2.85

Organization and Basis of Pre_3

Organization and Basis of Presentations (Details) a in Thousands, $ in Thousands, ft² in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)aft²property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)aft²property	Jun. 30, 2018USD ($)	Dec. 31, 2018	Jan. 01, 2019USD ($)	Jan. 01, 2018USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Area of real estate property (in sq feet) | a	549		549
Ownership interest in Ramco-Gershenson Properties, L. P.			97.70%		97.70%
General and administrative expense	$ (6,530)	$ (12,730)	$ (12,596)	$ (17,906)
Reclassification of non-recoverable operating expense	2,709	1,759	5,199	3,471
Adoption of ASU						$ (333)	$ 2,160
Operating lease liabilities	16,188		16,188
Operating lease right-of-use assets	17,425		17,425
Accounting Standards Update 2016-02
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adoption of ASU	$ 300		$ 300
Operating lease liabilities						16,600
Operating lease right-of-use assets						$ 18,000
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
General and administrative expense		700		1,400
Reclassification of non-recoverable operating expense		$ 700		$ 1,400
Shopping Centers
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of real estate properties owned and managed | property	49		49
Area of real estate property (in sq feet) | ft²	11.9		11.9
Aggregate portfolio, percent leased	95.00%		95.00%
Shopping Centers | Real Estate Joint Venture
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of real estate properties owned and managed | property	1		1

Real Estate - Additional Inform

Real Estate - Additional Information (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)propertyland	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)propertyland
Real Estate [Abstract]
Impairment of real estate	$ 200,000	$ 0	$ 200,000
Land held for development or sale		28,500,000		$ 29,500,000
Constructions in progress		$ 21,100,000		$ 23,700,000
Number of properties, held-for-sale | property		0		0
Number of land parcel, held-for-sale | land		0		0

Property Acquisitions and Dis_3

Property Acquisitions and Dispositions - Dispositions (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)a
Business Acquisition [Line Items]
GLA (in sq ft) | a	549,000
Acreage (in acres) | a	1.1
Sales Price	$ 69,375
Gain on Sale	$ 6,073
Income Producing Property Dispositions
Business Acquisition [Line Items]
GLA (in sq ft) | a	549,000
Sales Price	$ 68,500
Gain on Sale	$ 5,702
Outparcel Dispositions
Business Acquisition [Line Items]
Acreage (in acres) | a	1.1
Sales Price	$ 875
Gain on Sale	$ 371
East Town Plaza | Income Producing Property Dispositions
Business Acquisition [Line Items]
GLA (in sq ft) | a	217,000
Sales Price	$ 13,500
Gain on Sale	$ 1,169
The Shoppes at Fox River | Income Producing Property Dispositions
Business Acquisition [Line Items]
GLA (in sq ft) | a	332,000
Sales Price	$ 55,000
Gain on Sale	$ 4,533
Hartland - Outparcel | Outparcel Dispositions
Business Acquisition [Line Items]
Acreage (in acres) | a	1.1
Sales Price	$ 875
Gain on Sale	$ 371

Equity Investments in Unconso_3

Equity Investments in Unconsolidated Joint Ventures - Additional Information (Details)	Jun. 30, 2019joint_venture
Schedule of Equity Method Investments [Line Items]
Number of joint ventures	3
Joint Venture One
Schedule of Equity Method Investments [Line Items]
Ownership interest	7.00%
Joint Venture Two
Schedule of Equity Method Investments [Line Items]
Ownership interest	20.00%
Joint Venture Three
Schedule of Equity Method Investments [Line Items]
Ownership interest	30.00%

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	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Investment in real estate, net	$ 22,373	$ 22,591
Other assets	1,551	2,099
Total Assets	23,924	24,690
LIABILITIES AND OWNERS' EQUITY
Total liabilities	113	525
Owners' equity	23,811	24,165
Total Liabilities and Owners' Equity	23,924	24,690
RPT's equity investments in unconsolidated joint ventures	$ 1,492	$ 1,572

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]
Total revenue	$ 688	$ 1,235	$ 1,482	$ 2,422
Total expenses	385	867	781	1,615
Net income	303	368	701	807
RPT's share of earnings from unconsolidated joint ventures	$ 26	$ 202	$ 80	$ 273

Equity Investments in Unconso_6

Equity Investments in Unconsolidated Joint Ventures - Information of Fees Earned (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 57,361	$ 69,967	$ 117,069	$ 132,685
Construction fees
Schedule of Equity Method Investments [Line Items]
Total revenue	39	48	90	134
Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Total revenue	39	48	90	134
Unconsolidated Joint Ventures | Management fees
Schedule of Equity Method Investments [Line Items]
Total revenue	37	48	64	94
Unconsolidated Joint Ventures | Leasing fees
Schedule of Equity Method Investments [Line Items]
Total revenue	2	0	2	40
Unconsolidated Joint Ventures | Construction fees
Schedule of Equity Method Investments [Line Items]
Total revenue	$ 0	$ 0	$ 24	$ 0

Debt - Summary of Mortgages, No

Debt - Summary of Mortgages, Notes Payable and Capital Lease Obligation (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Senior unsecured notes	$ 610,000	$ 610,000
Unsecured term loan facilities	210,000	210,000
Fixed rate mortgages	113,842	115,134
Unsecured revolving credit facility	0	0
Junior subordinated notes	0	28,125
Subtotal debt	933,842	963,259
Unamortized premium	2,464	2,948
Unamortized deferred financing costs	(2,083)	(3,058)
Total debt	934,223	963,149
Finance lease obligation	$ 975
Finance lease obligation		$ 975

Debt - Senior Unsecured Notes (

Debt - Senior Unsecured Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal Balance	$ 933,842	$ 963,259
Total debt	934,223	963,149
Senior Notes
Debt Instrument [Line Items]
Principal Balance	$ 610,000	$ 610,000
Weighted Average Interest Rate	4.21%	4.21%
Unamortized deferred financing costs	$ (1,415)	$ (1,546)
Total debt	608,585	608,454
Senior Notes | Senior Unsecured Notes 3.75% Due 2021
Debt Instrument [Line Items]
Principal Balance	$ 37,000	$ 37,000
Interest Rate	3.75%	3.75%
Senior Notes | Senior Unsecured Notes 4.13% Due 2022
Debt Instrument [Line Items]
Principal Balance	$ 25,000	$ 25,000
Interest Rate	4.13%	4.13%
Senior Notes | Senior Unsecured Notes 4.12% Due 2023
Debt Instrument [Line Items]
Principal Balance	$ 41,500	$ 41,500
Interest Rate	4.12%	4.12%
Senior Notes | Senior Unsecured Notes 4.65% Due 2024
Debt Instrument [Line Items]
Principal Balance	$ 50,000	$ 50,000
Interest Rate	4.65%	4.65%
Senior Notes | Senior Unsecured Notes 4.16% Due 2024
Debt Instrument [Line Items]
Principal Balance	$ 50,000	$ 50,000
Interest Rate	4.16%	4.16%
Senior Notes | Senior Unsecured Notes 4.05% Due 2024
Debt Instrument [Line Items]
Principal Balance	$ 25,000	$ 25,000
Interest Rate	4.05%	4.05%
Senior Notes | Senior Unsecured Notes 4.27% Due 2025
Debt Instrument [Line Items]
Principal Balance	$ 31,500	$ 31,500
Interest Rate	4.27%	4.27%
Senior Notes | Senior Unsecured Notes 4.20% Due 2025
Debt Instrument [Line Items]
Principal Balance	$ 50,000	$ 50,000
Interest Rate	4.20%	4.20%
Senior Notes | Senior Unsecured Notes 4.09% Due 2025
Debt Instrument [Line Items]
Principal Balance	$ 50,000	$ 50,000
Interest Rate	4.09%	4.09%
Senior Notes | Senior Unsecured Notes 4.74% Due 2026
Debt Instrument [Line Items]
Principal Balance	$ 50,000	$ 50,000
Interest Rate	4.74%	4.74%
Senior Notes | Senior Unsecured Notes 4.30% Due 2026
Debt Instrument [Line Items]
Principal Balance	$ 50,000	$ 50,000
Interest Rate	4.30%	4.30%
Senior Notes | Senior Unsecured Notes 4.28% Due 2026
Debt Instrument [Line Items]
Principal Balance	$ 25,000	$ 25,000
Interest Rate	4.28%	4.28%
Senior Notes | Senior Unsecured Notes 4.57% Due 2027
Debt Instrument [Line Items]
Principal Balance	$ 30,000	$ 30,000
Interest Rate	4.57%	4.57%
Senior Notes | Senior Unsecured Notes 3.64% Due 2028
Debt Instrument [Line Items]
Principal Balance	$ 75,000	$ 75,000
Interest Rate	3.64%	3.64%
Senior Notes | Senior Unsecured Notes 4.72% Due 2029
Debt Instrument [Line Items]
Principal Balance	$ 20,000	$ 20,000
Interest Rate	4.72%	4.72%

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal Balance	$ 933,842	$ 963,259
Total debt	934,223	963,149
Unsecured revolving credit facility	0	0
Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Principal Balance	$ 210,000	$ 210,000
Weighted Average Interest Rate	3.03%	3.06%
Unamortized deferred financing costs	$ (624)	$ (808)
Total debt	$ 209,376	$ 209,192
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Interest Rate	3.70%	3.81%
Unsecured revolving credit facility	$ 0	$ 0
Revolving Credit Facility | Unsecured Term Loan Due 2020 | Unsecured Debt
Debt Instrument [Line Items]
Principal Balance	$ 75,000	$ 75,000
Interest Rate	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]
Principal Balance	$ 75,000	$ 75,000
Interest Rate	2.79%	2.84%
Weighted average fixed interest rate	1.49%
Basis spread on variable rate	1.30%
Revolving Credit Facility | Unsecured Term Loan Due 2023 | Unsecured Debt
Debt Instrument [Line Items]
Principal Balance	$ 60,000	$ 60,000
Interest Rate	3.37%	3.42%
Weighted average fixed interest rate	1.77%
Basis spread on variable rate	1.60%

Debt - Mortgages (Details)

Debt - Mortgages (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal Balance	$ 933,842	$ 963,259
Unamortized premium	2,464	2,948
Unamortized deferred financing costs	(2,083)	(3,058)
Total debt	934,223	963,149
Mortgages
Debt Instrument [Line Items]
Principal Balance	$ 113,842	$ 115,134
Weighted Average Interest Rate	5.39%	5.40%
Unamortized premium	$ 2,464	$ 2,948
Unamortized deferred financing costs	(44)	(73)
Total debt	116,262	118,009
Mortgages | West Oaks II and Spring Meadows Place
Debt Instrument [Line Items]
Principal Balance	$ 25,378	$ 25,804
Interest Rate	6.50%	6.50%
Mortgages | Bridgewater Falls Shopping Center
Debt Instrument [Line Items]
Principal Balance	$ 53,972	$ 54,514
Interest Rate	5.70%	5.70%
Mortgages | The Shops on Lane Avenue
Debt Instrument [Line Items]
Principal Balance	$ 28,650	$ 28,650
Interest Rate	3.76%	3.76%
Mortgages | Nagawaukee II
Debt Instrument [Line Items]
Principal Balance	$ 5,842	$ 6,166
Interest Rate	5.80%	5.80%

Debt - Scheduled Principal Paym

Debt - Scheduled Principal Payments on Mortgages and Notes Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
2019	$ 1,319
2020	102,269
2021	114,508
2022	77,397
2023	129,388
Thereafter	508,961
Subtotal debt	933,842	$ 963,259
Unamortized premium	2,464	2,948
Unamortized deferred financing costs	(2,083)	(3,058)
Total debt	$ 934,223	$ 963,149

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	Apr. 30, 2019	Jun. 30, 2019
Fixed Rate Mortgage Debt
Debt Instrument [Line Items]
Net book value		$ 179.6
Junior Subordinated Debt
Debt Instrument [Line Items]
Junior subordinated notes	$ 28.6
Unamortized deferred financing costs	$ 0.6
Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding, amount		(0.2)
Line of credit facility, remaining borrowing capacity		$ 349.8
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	Jun. 30, 2019	Dec. 31, 2018
Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative assets - interest rate swaps	$ 451	$ 4,115
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	(409)	0
Level 2 | Other assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative assets - interest rate swaps	451	4,115
Level 2 | Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative liabilities - interest rate swaps	$ (409)	$ 0

Fair Value - Additional Inform

Fair Value - Additional Information (Details) - USD ($)	Jun. 30, 2019	Apr. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, carrying amount	$ 934,223,000		$ 963,149,000
Fixed Rate Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, carrying amount	933,800,000		935,100,000
Floating Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	0	$ 0
Level 2 | Fixed Rate Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	$ 953,600,000		928,200,000
Level 2 | Floating Rate Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value			$ 28,100,000

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	Jun. 30, 2019USD ($)
Interest Rate Swap
Derivative [Line Items]
Derivative asset, notional amount	$ 125,000,000
Derivative liability, notional amount	85,000,000
Derivative assets, at fair value	451,000
Derivative liabilities, at fair value	(409,000)
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	$ 190,000
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	$ 66,000
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	$ 51,000
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	$ 144,000
Unsecured term loan facility with: 2.150% Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Derivative liability, notional amount	$ 15,000,000
Fixed rate (as a percent)	2.15%
Derivative liabilities, at fair value	$ (34,000)
Unsecured term loan facility with: 2.150% Swap Rate, Expiration Date 05/2020
Derivative [Line Items]
Derivative liability, notional amount	$ 10,000,000
Fixed rate (as a percent)	2.15%
Derivative liabilities, at fair value	$ (23,000)
Unsecured term loan facility with: 1.770% Swap Rate, Expiration Date 03/2023
Derivative [Line Items]
Derivative liability, notional amount	$ 60,000,000
Fixed rate (as a percent)	1.77%
Derivative liabilities, at fair value	$ (352,000)

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	$ (2,978)	$ 798	$ (4,967)	$ 3,353
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 Gain (Loss) Reclassified from Accumulated OCI into Income	444	124	894	11
Derivative Assets
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	(2,532)	788	(4,521)	3,107
Derivative Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative	(446)	10	(446)	246
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 Gain (Loss) Reclassified from Accumulated OCI into Income	407	124	857	50
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 Gain (Loss) Reclassified from Accumulated OCI into Income	$ 37	$ 0	$ 37	$ (39)

Leases - Future Minimum Revenue

Leases - Future Minimum Revenue From Rentals Under Non-cancelable Operating Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Rent on Operating Leases
2019 (remaining)	$ 84,681
2020	162,956
2021	145,181
2022	122,521
2023	101,061
Thereafter	347,421
Total	963,821
Variable lease payment	$ 28,000
Shopping Centers
Rent on Operating Leases
Aggregate portfolio, percent leased	95.00%

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)officeoption	Jun. 30, 2018USD ($)
Lessee, Lease, Description [Line Items]
Number of leased corporate offices | office			2
Lessee, operating lease, term of contract	64 months		64 months
Lessee, operating lease, number of options | option			2
Lessee, operating lease, renewal term	5 years		5 years
Finance lease cost	$ 13	$ 14	$ 26	$ 27
Non-recoverable operating expense
Lessee, Lease, Description [Line Items]
Operating lease cost	290	290	581	581
General and administrative expense
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 251	$ 153	$ 484	$ 302

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) $ in Thousands	Jun. 30, 2019USD ($)
ASSETS
Operating lease assets	$ 17,425
Finance lease asset	13,249
Total leased assets	30,674
LIABILITIES
Operating lease liabilities	16,188
Finance lease liability	975
Total lease liabilities	$ 17,163
Weighted Average Remaining Lease Terms
Operating leases	77 years
Finance lease	14 years
Weighted Average Incremental Borrowing Rate
Operating leases	6.24%
Finance lease	5.23%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 917
Operating cash flows from finance lease	0
Financing cash flows from finance lease	$ 0

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2019USD ($)
Operating Leases
2019 (remaining)	$ 724
2020	1,243
2021	1,252
2022	1,262
2023	1,272
Thereafter	94,462
Total lease payments	100,215
Less imputed interest	(84,027)
Operating lease liabilities	16,188
Finance Lease
2019 (remaining)	100
2020	100
2021	100
2022	100
2023	100
Thereafter	900
Total lease payments	1,400
Less imputed interest	(425)
Finance lease liability	$ 975

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of Basic Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income	$ 2,962	$ 4,403	$ 13,655	$ 11,863
Net income attributable to noncontrolling interest	(69)	(101)	(319)	(275)
Allocation of income to restricted share awards	(116)	(128)	(248)	(241)
Income attributable to RPT	2,777	4,174	13,088	11,347
Preferred share dividends	(1,675)	(1,675)	(3,350)	(3,350)
Net income available to common shareholders - Basic and Diluted	$ 1,102	$ 2,499	$ 9,738	$ 7,997
Weighted average shares outstanding, Basic (in shares)	79,764	79,519	79,754	79,471
Restricted stock awards using the treasury method (in shares)	392	102	394	103
Weighted average shares outstanding, Diluted (in shares)	80,156	79,621	80,148	79,574
Income per common share, Basic (in usd per share)	$ 0.01	$ 0.03	$ 0.12	$ 0.10
Income per common share, Diluted (in usd per share)	$ 0.01	$ 0.03	$ 0.12	$ 0.10

Earnings Per Common Share - Ant

Earnings Per Common Share - Antidilutive (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding (in shares)	3,758	4,275	3,758	4,275
Convertible (in shares)	8,832	8,786	8,832	8,790
Operating Partnership Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding (in shares)	1,909	1,916	1,909	1,916
Convertible (in shares)	1,909	1,916	1,909	1,916
Series D Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding (in shares)	1,849	1,849	1,849	1,849
Convertible (in shares)	6,923	6,803	6,923	6,803
Performance Share Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding (in shares)	0	510	0	510
Convertible (in shares)	0	67	0	71

Share-based Compensation Plan_2

Share-based Compensation Plans - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)shares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)planshares	Jun. 30, 2018USD ($)
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 | $	$ 1.6	$ 2.8	$ 2.8	$ 3.6
Compensation expense (benefit) related to cash awards | $	0.2	0.4	(0.1)	0.4
Total unrecognized compensation expense | $	$ 7.4		$ 7.4
Total unrecognized compensation expense, weighted average period of recognition			2 years 2 months 12 days
2019 Omnibus Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)	3,500,000		3,500,000
Number of shares terminated (in shares)			0
Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant (in shares)	6,000,000		6,000,000
Number of shares available for issuance (in shares)	5,400,000		5,400,000
Number of shares terminated (in shares)			151,683
2012 Omnibus Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares terminated (in shares)			283,479
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, shares granted (in shares)			207,230
Share-based compensation expenses | $	$ 1	2.2	$ 2	2.9
Restricted stock | Trustee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)			1 year
Restricted stock | Minimum | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)			3 years
Restricted stock | Maximum | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service based restricted stock, vesting period (in years)			5 years
Equity Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expenses | $	$ 0.4	$ 0.2	$ 0.9	$ 0.3

Share-based Compensation Plan_3

Share-based Compensation Plans - Weighted Average Assumptions (Details) - $ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing share price (in usd per share)	$ 12.11		$ 11.95
Expected dividend rate	7.30%		7.40%
Expected stock price volatility			24.90%
Expected stock price volatility, minimum	22.70%
Expected stock price volatility, maximum	23.70%
Risk-free interest rate			2.60%
Risk-free interest rate, minimum	1.70%
Risk-free interest rate, maximum	2.10%
Expected life (years)			1 year
Equity Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing share price (in usd per share)	$ 12.05
Expected dividend rate	7.30%
Expected stock price volatility	22.90%
Expected stock price volatility, minimum		21.50%
Expected stock price volatility, maximum		21.80%
Risk-free interest rate	2.50%
Risk-free interest rate, minimum		2.30%
Risk-free interest rate, maximum		2.60%
Expected life (years)	2 years 10 months 6 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	6 months
Minimum | Equity Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing share price (in usd per share)		$ 11,890
Expected dividend rate		6.90%
Expected life (years)		2 years 6 months 18 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected life (years)	2 years 6 months
Maximum | Equity Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing share price (in usd per share)		$ 12,710
Expected dividend rate		7.40%
Expected life (years)		2 years 10 months 6 days

Taxes - Additional Information

Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Annual distribution of REIT taxable income (as a percent)	90.00%		90.00%
Federal and state deferred tax asset	$ 7,800		$ 7,800
Federal and state deferred tax asset, valuation allowance	7,800		7,800
Income tax provision (benefit)	$ 35	$ 33	$ 71	$ 51

Executive Reorganization (Detai

Executive Reorganization (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
One-time Termination Benefits
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 0.6	$ 6.3	$ 0.6	$ 6.3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Construction costs related to development and expansion	$ 9
Contractual obligation	2.2
Bond finance agreement	$ 12.2
Bond financing agreement, amortization period	20 years
Debt service payments	$ 10.1

Uncategorized Items - rpt-20196

Label	Element	Value
Noncontrolling Interest [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 51,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(8,000)
Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	2,109,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (325,000)