Interest Rate Fluctuations: Preferred stock values are sensitive to changes in interest rates, with rising rates potentially making fixed-income investments less attractive.

Economic Growth and Consumer Spending: As a REIT focusing on shopping centers and mixed-use properties, the company's rental income and overall performance are directly influenced by consumer spending and the general health of the economy.

Real Estate Market Conditions: Property values, occupancy rates, and development opportunities within the Washington, D.C. metropolitan area are key determinants of the company's financial health and growth prospects.