MINOT, N.D., March 8, 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 April 1, 2016 to common shareholders and unitholders of record at the close of business on March 21, 2016.
This $0.13 per common share/unit distribution will be the 180th 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 January 15, 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 March 31, 2016 to holders of record at the close of business on March 21, 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 March 31, 2016 to holders of record at the close of business on March 21,2016. Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share.
About Investors Real Estate Trust
IRET is a self-advised equity real estate investment trust. Its business focus consists of owning and operating income-producing multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota. It is based in Minot, North Dakota, and has additional offices in Minneapolis and St. Cloud, Minnesota. For more company information, visit IRET's website at www.iret.com.
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.
Investor Relations Stephen Swett phone: 203-682-8377 email: IR@iret.com
SOURCE Investors Real Estate Trust