Investors Real Estate Trust reports fiscal year-end and fourth quarter 2012 financial and operating results and announces change in auditors

Minot, ND – Investors Real Estate Trust (NASDAQ: IRET) (NASDAQ: IRETP) today reported its financial and operating results for the year and three months ended April 30, 2012.

A complete financial and operating results earnings release is accessible at the “Investor” section of IRET’s website at http://www.iret.com. It is also available directly at the following web page:

http://www.snl.com/Cache/13770824.pdf?O=3&IID=107231&OSID=9&FID=13770824

(Note: If clicking on the above link does not open up a new web page, you may need to cut and paste the above url into your browser’s address bar.)

The Company will host a conference call on Monday, July 2, 2012 at 9:00 a.m. Central Daylight Time to discuss these results. Conference Call access information is as follows:

USA Toll Free Number: 1-877-317-6789

International Toll Free Number: 1-412-317-6789

Canada Toll Free Number: 1-866-605-3852

A replay of the call will be archived on the “Investors/Presentations and Events” page of IRET’s website, http://www.iret.com, through Monday, July 1, 2013.

Questions regarding the conference call should be directed to IRET’s Investor Relations at landerson@iret.com.

Separately, the Company also announced that it has filed a Current Report on Form 8-K to report the appointment of Grant Thornton LLP (“Grant Thornton”) as its independent registered public accounting firm, replacing Deloitte & Touche LLP (“Deloitte”). Deloitte’s audit services to the Company will cease effective as of the date of issuance of Deloitte’s audit report for the fiscal year ended April 30, 2012 and the filing of the Company’s Annual Report on Form 10-K. Grant Thornton will begin providing services to the Company for the first quarter of the Company’s current fiscal year 2013. The Company’s Audit Committee approved the transition from Deloitte to Grant Thornton, and the Company notes that the decision to change auditors resulted from a Request for Proposals process undertaken by Company management at the direction of the Audit Committee, and was not the result of any disagreement between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

About Investors Real Estate Trust

Investors Real Estate Trust is an equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, Minnesota and Omaha, Nebraska.

Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from projected results. Such risks, uncertainties and other factors include, but are not limited to: our stated intentions or expectations regarding our common share and unit distributions, fluctuations in interest rates, the effect of government regulation, the availability of capital, changes in general and local economic and real estate market conditions, competition, our ability to attract and retain skilled personnel, and those risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission, including our 2011 Form 10-K. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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Investors Real Estate Trust announces 3rd quarter Fiscal 2012 earnings conference call

MINOT, N.D., February 28, 2012 – Investors Real Estate Trust (Nasdaq: IRET) (Nasdaq: IRETP) has scheduled a conference call for Tuesday, March 13, 2012 at 9:00 a.m. Central Time, to discuss the Company’s third quarter fiscal year 2012 financial and operating results.

IRET’s quarterly report on Form 10-Q for the quarter ended January 31, 2012, will be filed with the Securities and Exchange Commission on Monday, March 12, 2012.  The Company will also post on its website that day, and furnish via a Current Report on Form 8-K, an earnings release summarizing the financial and operational results reported in more detail in its Form 10-Q, and providing certain additional supplemental operating and financial data.  The complete earnings release, along with the Supplemental Operating and Financial Data package, will also be available directly at the following web page no earlier than 4:30 p.m. ET on Monday, March 12, 2012:

Investors Real Estate Trust Announces Recent Lease Transactions and Recent Acquisition Activity

Minot, ND – November 2, 2011 – Investors Real Estate Trust (“IRET”) (Nasdaq:IRET) (Nasdaq:IRETP) announced today that its operating partnership, IRET Properties, has signed leases totaling 137,218 square feet at three of its commercial properties.

Jacobson Warehouse Company, a third party logistics company offering end-to-end supply chain management solutions around the globe, has signed a 73,681 square foot lease at the Dixon Industrial Park, located in Des Moines, Iowa. With this latest lease, Dixon Industrial Park, with a total square footage of 604,886, is now 96.9% occupied.

PrairieCare, LLC, which has been delivering high quality psychiatric and behavioral health services in the Twin Cities since 2005, has signed a 23,500 square foot lease at the 6363 Physicians Building, located in Edina, Minnesota. The 70,934 square foot Physicians Building is 100% occupied following the PrairieCare lease.

Black Box Network Services, a world leader in communications and infrastructure products and solutions, has signed a 40,037 square foot lease at the Interlachen Corporate Center located in Edina, Minnesota. Following the lease with Black Box Network Services, the 105,128 square foot property is now 71.4% occupied.

Separately, IRET also announces the acquisition of Phase II of the Evergreen Apartments property in Isanti, Minnesota. This residential property is located on approximately 1.71 acres, and adds 36 units to the multi-family portfolio. The property adjoins the existing Evergreen Apartments property, and will be internally managed by IRET. The acquisition also included an adjoining parcel of vacant land, comprised of approximately 4.95 acres. The total purchase price was $3.475 million.

About Investors Real Estate Trust
IRET is an equity real estate investment trust founded in 1970 with a diversified portfolio of multi-family residential, office, medical, industrial and retail properties located in 13 states, primarily in the upper Midwest. IRET’s headquarters are located in Minot, North Dakota, and it has additional offices in Minneapolis, Minnesota and Omaha, Nebraska. IRET’s common shares of beneficial interest trade on the NASDAQ Global Select Market under the symbol IRET. For more information, visit IRET’s website at http://www.iret.com.

Safe Harbor
Statements about IRET’s future expectations and all other statements in this press release other than historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company’s actual results could differ materially from expected results.

 

IRET Spared in St. Louis

IRET Team members in St. Louis were relieved and thankful the F-4 tornado that caused massive amounts of damage to homes and businesses, including the Lambert Airport, managed to skip over their personal properties and IRET owned real estate. Jan Stabenow, General Manager for IRET’s St. Louis, Missouri market remarked on IRET’s good fortune when the storms raged through St. Louis on April 22, “We were extremely fortunate. It’s as if the tornadoes just skipped right over us.” Jan indicated that all of IRET’s team members were safe and out of harms way.

To help those in need, the St. Louis IRET office stepped up to join forces with other local businesses to support the St. Louis Chapter of the American Red Cross with a donation and to assist those in need.

Investors Real Estate Trust Promotes Ted E. Holmes to Senior Vice President

Minot, ND – April 13, 2011 ‐ Investors Real Estate Trust (Nasdaq:IRET) (Nasdaq:IRETP) is pleased to announce the promotion of Ted Holmes to Senior Vice President of Finance. In this position, Mr. Holmes will supervise and direct all aspects of the company’s debt and financing policies, debt placement, and lender compliance. As a member of senior management, Mr. Holmes will also participate in implementing the long term strategic objectives of the company’s growth and acquisition policies. Mr. Holmes is based in the Minneapolis, Minnesota office.