-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 TREm9eB8RdH2X3OBkd99tg==

<SEC-DOCUMENT>0001102732-03-000001.txt : 20030616
<SEC-HEADER>0001102732-03-000001.hdr.sgml : 20030616
<ACCEPTANCE-DATETIME>20030616152429
ACCESSION NUMBER:		0001102732-03-000001
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030430
FILED AS OF DATE:		20030616

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INVESTORS REAL ESTATE TRUST
		CENTRAL INDEX KEY:			0000798359
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				450311232
		STATE OF INCORPORATION:			ND
		FISCAL YEAR END:			0430

	BUSINESS ADDRESS:	
		STREET 1:		12 S MAIN STREET
		STREET 2:		SUITE 100
		CITY:			MINOT
		STATE:			ND
		ZIP:			58701
		BUSINESS PHONE:		701-837-4738

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1988
		STREET 2:		SUITE 100
		CITY:			MINOT
		STATE:			ND
		ZIP:			58702-1988

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JONES PATRICK G
		CENTRAL INDEX KEY:			0001102732

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14851
		FILM NUMBER:		03745511

	BUSINESS ADDRESS:	
		STREET 1:		12 SOUTH MAIN STREET
		CITY:			MINOT
		STATE:			ND
		ZIP:			58701
		BUSINESS PHONE:		7018374738

	MAIL ADDRESS:	
		STREET 1:		12 SOUTH MAIN STREET
		CITY:			MINOT
		STATE:			ND
		ZIP:			58701
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <documentType>5</documentType>

    <periodOfReport>2003-04-30</periodOfReport>


    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>1</form4TransactionsReported>

    <issuer>
        <issuerCik>0000798359</issuerCik>
        <issuerName>INVESTORS REAL ESTATE TRUST</issuerName>
        <issuerTradingSymbol>IRETS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001102732</rptOwnerCik>
            <rptOwnerName>JONES PATRICK G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-01-17</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>156.195</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>9.61</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>285598.133</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
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            </natureOfOwnership>
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    <nonDerivativeSecurity>
        <securityTitle>
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        </securityTitle>
        <transactionDate>
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        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>P</transactionCode>
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        <transactionTimeliness>
            <value>L</value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
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            <transactionValue>
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            </transactionValue>
            <transactionAcquiredDisposedCode>
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            </transactionAcquiredDisposedCode>
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            </sharesOwnedFollowingTransaction>
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    <nonDerivativeSecurity>
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        <transactionAmounts>
            <transactionShares>
                <value>165.974</value>
                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>9.25</value>
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            <transactionAcquiredDisposedCode>
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    <nonDerivativeSecurity>
        <securityTitle>
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        </transactionDate>
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        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>2092.549</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>9.61</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
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        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>285598.133</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
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            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-04-01</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>2223.579</value>
                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>9.25</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
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        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>285598.133</value>
            </sharesOwnedFollowingTransaction>
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            <directOrIndirectOwnership>
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            </directOrIndirectOwnership>
            <natureOfOwnership>
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                <footnoteId id="F4"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-01-17</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
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        <transactionTimeliness>
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        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>2092.549</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>9.61</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
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        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>285598.133</value>
            </sharesOwnedFollowingTransaction>
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        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
                <footnoteId id="F5"/>
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    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-04-10</value>
        </transactionDate>
        <transactionCoding>
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        <transactionTimeliness>
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        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
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                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>9.25</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
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        </transactionAmounts>
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            <sharesOwnedFollowingTransaction>
                <value>285598.133</value>
            </sharesOwnedFollowingTransaction>
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        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
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        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-01-17</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>160.343</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>9.61</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
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            <sharesOwnedFollowingTransaction>
                <value>285598.133</value>
            </sharesOwnedFollowingTransaction>
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        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
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        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
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        </securityTitle>
        <transactionDate>
            <value>2003-02-24</value>
        </transactionDate>
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            <transactionFormType>4</transactionFormType>
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            <equitySwapInvolved>0</equitySwapInvolved>
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        <transactionTimeliness>
            <value>L</value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>383.5</value>
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            <transactionValue>
                <value>9.05</value>
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                <value>A</value>
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        </ownershipNature>
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    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-04-01</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
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        <transactionTimeliness>
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        </transactionTimeliness>
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                <value>170.384</value>
                <footnoteId id="F2"/>
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            <transactionValue>
                <value>9.25</value>
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            <transactionAcquiredDisposedCode>
                <value>A</value>
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                <value>285598.133</value>
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        <ownershipNature>
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                <value>D</value>
                <footnoteId id="F6"/>
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        </ownershipNature>
    </nonDerivativeSecurity>

    <footnotes>
        <footnote id="F1">3rd Quarter Distribution - DRIP</footnote>
        <footnote id="F2">4th Quarter Distribution - DRIP</footnote>
        <footnote id="F3">Mary K. Jone's IRA at 1st Western Bank, Minot, ND</footnote>
        <footnote id="F4">Mary K. Jones and Patrick G. Jones, Trustees  - Mary K. Jones Revocable Trust</footnote>
        <footnote id="F5">Patrick G. Jones and Michael Bakk, Trustees - Patrick G. Jones Revocable Trust</footnote>
        <footnote id="F6">Patrick G. Jone's IRA at 1st Western Bank, Minot, ND</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Patrick G. Jones</signatureName>
        <signatureDate>2003-06-13</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----