CENTERSPACE — Director's Dealing 2014

Jan 27, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2014-01-24

Reporting Person: MILLER JEFFREY L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-24	7.95% Series B Cumulative Redeemable Preferred	P	1002	$25.6	Acquired	9302	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
7.95% Series B Cumulative Redeemable Preferred	8000	Indirect

Footnotes

F1: Shares owned by a partnership in which the reporting person is a partner. The reporting person disclaims beneficial ownership of the shares except to the extent of his pecuniary interest in the partnership.