CENTERSPACE — Director's Dealing 2017

May 16, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INVESTORS REAL ESTATE TRUST (IRET)
CIK: 0000798359
Period of Report: 2017-04-30

Reporting Person: Andersen Nancy B (SVP& Principal Accting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-30	Common Shares of Beneficial Interest	A	7891	—	Acquired	11866	Direct

Footnotes

F1: One third of the shares vested on the grant date, one third of the shares vest on April 30, 2018 and one third of the shares vest on April 30, 2019 if recipient remains in the continuous employ of the Company or an affiliate through the applicable vesting date.