SOURCE: Investors Real Estate Trust

May 19, 2005 13:30 ET

Investors Real Estate Trust Announces Increase in Regular Quarterly Common Share Distribution, and Declares Series a Preferred Share Distribution

MINOT, ND -- (MARKET WIRE) -- May 19, 2005 -- Investors Real Estate Trust (NASDAQ: IRETS) announced today that its Board of Trustees has declared a regular quarterly distribution of 16.25 cents per share/unit payable on or about July 1, 2005, to common shareholders and unitholders of record at the close of business on June 17, 2005. The distribution reinvestment price will be the closing NASDAQ share price on July 1, 2005, less a discount of 5%. The Company has filed a registration statement with the Securities and Exchange Commission to register the number of common shares necessary to meet distribution reinvestment elections.

This 16.25 cents per common share/unit distribution represents the 137th consecutive quarterly distribution paid by IRET since its inception in 1970, and represents an increase of .05 cents or .3% over the previous regular quarterly distribution of 16.20 cents per common share/unit paid April 1, 2005.

Investors Real Estate Trust's Board of Trustees also declared a distribution of 51.56 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares (NASDAQ: IRETP). This distribution will be payable June 30, 2005 to Series A preferred shareholders of record on June 15, 2005.

About Investors Real Estate Trust

Investors Real Estate Trust is a self-advised 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 states of Minnesota and North Dakota. Investors Real Estate Trust is based in Minot, North Dakota, and has an additional office in Minneapolis, Minnesota.

Investors Real Estate Trust
PO Box 1988
12 South Main Street
Minot, North Dakota 58701
701.837.4738 phone
701.838.8875 fax
info@iret.com email

Contact Information