RDR is a closed end prefered stock fund....it's close to NAV, but most often it trades close to a 10% premium...it is very thinly traded, yesterday it didn't trade any shares til after 2:30...some days it only trades a few thousand shares...the payout(15 cent/mo.) is over 10% from income only, the rest is ROC...RDR closed at 12.10 on vol. of 5600 shares, if you wait you can get it for under 11.67.
JRS is a closed end REIT fund...pays 57 cent/qtr, ROC is lower than RNP but both have a lot of the same holdings, JRS is more diversified...JRS closed at 16.25.
A couple to put on your watch list HTE under $23 FRO under $40
Right now I would buy IGR before RNP, but they are very similar.
IGR has a lower expense ratio, higher (and riskier) dividend, better discount from NAV (slightly suspect), shorter history, and a little lower debt ratio.
Morningstar rates IGR higher, for what that's worth.
I have both for some intra-junque diversification, but as your question implies, you would not want to bet the farm on either. Two pieces of crappola that will look great if they get half way back to their 2007 highs by 2010. Both are high risk/reward situations IMHO.