CENTERSPACE — Director's Dealing 2011

Jul 18, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2011-07-14

Reporting Person: WENTZ THOMAS A JR (Director, SVP & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-07-14	Common Shares of Beneficial Interest	G	9888	—	Disposed	265255.922	Direct

Footnotes

F1: The transfer is a gift exempt from Section 16(b) under Rule 16b-5.

F2: The total includes approximately 220,692 common shares owned by 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.