CENTERSPACE — Director's Dealing 2015

Jun 26, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2015-06-24

Reporting Person: Reiling Mark W (EVP & Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-06-24	Common Shares of Beneficial Interest	A	19702	—	Acquired	79226.513	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares of Beneficial Interest	5500	Indirect

Footnotes

F1: The total stock award was 29,637 shares, before deducting the number of shares withheld for the payment of estimated taxes.

F2: The stock award vests as to 50% of the shares on the date of grant and 50% of the shares on April 30, 2016 if he is still employed by the Company on such date.

F3: 46,300 of the shares are held in his IRA.