CENTERSPACE — Director's Dealing 2010

Jun 24, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2010-06-22

Reporting Person: WENTZ THOMAS A JR (SVP & Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-06-22	Common Shares of Beneficial Interest	A	4232	—	Acquired	264712.195	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares of Beneficial Interest	467.399	Indirect

Footnotes

F1: Grant of stock bonus exempt under Rule 16b-3; awarded pursuant to 2008 Incentive Award Plan of IRET and IRET Properties.

F2: Includes approximately 220,692 common shares held by Wenco, Ltd, a partnership of which Mr. Wentz is the general partner. Mr. Wentz disclaims beneficial ownership of these shares except to the extent of his pecuniary interest in the partnership.