SOURCE: Investors Real Estate Trust

January 03, 2007 16:42 ET

Investors Real Estate Trust Announces 2006 Distribution Allocation

MINOT, ND -- (MARKET WIRE) -- January 3, 2007 -- Investors Real Estate Trust (NASDAQ: IRETS) today announced the final tax treatment (Form 1099) for calendar year 2006 distributions on its common and preferred shares of beneficial interest. Shareholders are encouraged to consult with their personal tax advisors as to the specific tax treatment of their Investors Real Estate Trust distributions. None of the following 2006 calendar year distributions is eligible for treatment as "qualified dividend income."

                                   Cash       Ordinary               Total
Security       Record   Payable Distribution   Taxable   Return of  Capital
Description     Date     Date    Per Share   Distribution Capital   Gain(1)
-----------   -------- -------- ------------ ----------- --------- --------
Common Shares 01/03/06  01/13/06  $0.1635      $0.0687    $0.0928   $0.0020
CUSIP:        03/17/06  04/03/06  $0.1640      $0.0689    $0.0931   $0.0020
461730103     06/16/06  07/03/06  $0.1645      $0.0691    $0.0934   $0.0020
Symbol: IRETS 09/15/06  10/02/06  $0.1650      $0.0693    $0.0937   $0.0020
                                  -------      -------    -------   -------
                        TOTALS    $0.6570      $0.2760    $0.3730   $0.0080
                                  =======      =======    =======   =======

Series A      03/15/06  03/31/06  $0.515625    $0.5094    $0.0000   $0.0062
Preferred     06/15/06  06/30/06  $0.515625    $0.5094    $0.0000   $0.0062
Shares        09/15/06  10/02/06  $0.515625    $0.5094    $0.0000   $0.0062
CUSIP:        12/15/06  01/02/07  $0.515625    $0.5093    $0.0000   $0.0064
461730202                         ---------    -------    -------   -------
Symbol: IRETP           TOTALS    $2.062500    $2.0375    $0.0000   $0.0250
                                  =========    =======    =======   =======

(1) Of the Total Capital Gain distribution amount, 18.6093% is Unrecaptured Section 1250 Gain.

The Company reported that the preferred distribution declared on November 15, 2006 with a record date of December 15, 2006, and a payable date of January 2, 2007, is taxable in 2006.

Investors Real Estate Trust is a real estate investment trust headquartered in Minot, North Dakota, with additional offices in Minneapolis, Minnesota, and Omaha, Nebraska. As of October 31, 2006, IRET owned 150 commercial properties consisting of office, medical, industrial and retail properties, with a total of approximately 9.7 million square feet, and 67 multi-family apartment communities with a total of 8,934 units, with properties located primarily in the Midwest. For more company information, visit the Investors Real Estate Trust website at www.iret.com.

Contact Information

  • Contact:
    Michelle R. Saari
    PO Box 1988
    12 South Main Street
    Minot, North Dakota 58701
    701.837.4738 phone
    701.838.7785 fax
    Email Contact
    WEBSITE: www.iret.com