MINOT, N.D., June 2, 2016 /PRNewswire/ -- Investors Real Estate Trust (NYSE: IRET) (NYSE: IRET PR) (NYSE: IRET PRB) today announced that its Board of Trustees has declared a regular quarterly distribution of $0.13 per share/unit, payable on July 1, 2016 to common shareholders and unitholders of record at the close of business on June 15, 2016.
This $0.13 per common share/unit distribution will be the 181st consecutive quarterly distribution paid by IRET since its inception in 1970. The previous regular quarterly distribution, also $0.13 per common share/unit, was paid on April 1, 2016.
IRET's Board of Trustees also declared a distribution of $0.515625 per share on the 8.25% Series A Cumulative Redeemable Preferred Shares (NYSE: IRET PR), payable on June 30, 2016 to holders of record at the close of business on June 15, 2016. Series A preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $2.0625 per share.
Additionally, its Board of Trustees declared a distribution of $0.496875 per share on the 7.95% Series B Cumulative Redeemable Preferred Shares (NYSE: IRET PRB), payable on June 30, 2016 to holders of record at the close of business on June 15, 2016. Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share.
IRET has also announced that its Board of Trustees has scheduled IRET's 2016 Annual Meeting of Shareholders for Tuesday, September 20, 2016 at the Grand Hotel, 1505 North Broadway, Minot, North Dakota. The start time for this year's Shareholder meeting is at 9:00 a.m. CT. The record date for determination of the common shareholders entitled to vote at the meeting has been set at the close of business on July 22, 2016.
We are a self-administered, equity real estate investment trust investing in income-producing properties located primarily in the upper Midwest. As of January 31, 2016, we held for investment a portfolio of 177 properties consisting of 94 multifamily properties, 66 healthcare properties (including senior housing), 7 industrial properties and 10 other commercial properties with a total of 4.5 million square feet of leasable space. Our common shares, Series A preferred shares and Series B preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET, IRETPR and IRETPRB, respectively). Our press releases and supplemental information are available on our website at www.iret.com or by contacting Investor Relations at 203-682-8377.
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: 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 Annual Report on Form 10-K for fiscal year ended April 30, 2015. We assume no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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SOURCE Investors Real Estate Trust