A $*$-closed subalgebra of the Smirnov class

We study real Smirnov functions and investigate a certain $*$-closed subalgebra of the Smirnov class $N^+$ containing them. Motivated by a result of Aleksandrov, we provide an explicit representation for the space $H^p \cap \overline{H^p}$. This leads to a natural analog of the Riesz projection on a certain quotient space of $L^p$ for $p \in (0,1)$. We also study a Herglotz-like integral transform for singular measures on the unit circle $\partial \mathbb{D}$.