The Globe and Mail reports in its Saturday edition that your local Loblaw store may be far from the Strait of Hormuz, but Choice Properties REIT has seen a downturn in recent months. The Globe's David Berman writes that the REIT has slumped about 10 per cent since July. With a distribution yield above 5 per cent, a potential takeover of a rival REIT and a robust business model, Choice Properties merits closer examination. Desjardins's Lorne Kalmar says, "Grocery-anchored retail has become one of the most sought-after property types." The problem? There's a lot of uncertainty weighing on investor sentiment right now, even if not directly related to real estate. The rising oil prices is creating inflationary pressures on top of simmering concerns about government debt loads, a disconcerting combo that has sent bond yields soaring to multiyear highs. Granted, rising bond yields aren't working in the REIT's favour right now. But since they are making the units cheaper to buy, perhaps that's a good thing. Choice Properties has some advantages. While rising rates heighten recession risks due to increased borrowing costs, a REIT with stable grocery tenants remains secure. Additionally, its valuation is reasonable.