-----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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 YxRjSERNclnJW/KLrffFOA==

<SEC-DOCUMENT>0001232569-04-000006.txt : 20040702
<SEC-HEADER>0001232569-04-000006.hdr.sgml : 20040702
<ACCEPTANCE-DATETIME>20040702150414
ACCESSION NUMBER:		0001232569-04-000006
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040630
FILED AS OF DATE:		20040702

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:			HOYT STEVEN B
		CENTRAL INDEX KEY:			0001232569

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14851
		FILM NUMBER:		04899531

	BUSINESS ADDRESS:	
		STREET 1:		2865 LITTLE ORCHARD WAY
		CITY:			ORONO
		STATE:			MN
		ZIP:			55391
		BUSINESS PHONE:		9522490688

	MAIL ADDRESS:	
		STREET 1:		2865 LITTLE ORCHARD WAY
		CITY:			ORONO
		STATE:			MN
		ZIP:			55391
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-06-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001232569</rptOwnerCik>
            <rptOwnerName>HOYT STEVEN B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2865 LITTLE ORCHARD WAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ORONO</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55391</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>UPREIT Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-06-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>1988-08-08</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>1988-08-08</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Shares of Beneficial Interest</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1244265</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Owned by Plymouth Partners II, LLC.</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person acquired 10,000 units of limited partnership interest (&quot;UPREIT Units&quot;) of IRET Properties, a North Dakota limited partnership, of which the issuer is the general partner, in exchange for an interest in real property.  The UPREIT Units were valued at $10.00 per unit in this transaction.  UPREIT Units are redeemable for an equal number of shares of the issuer's common stock, or, at the election of the issuer, cash equal to the fair market value of such shares.  The UPREIT Units may be redeemed on the second anniversary of the date of acquisition.</footnote>
        <footnote id="F2">The UPREIT Units are owned by Plymouth Partners II, LLC, in which the reporting person is a shareholder.  The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest in the LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Michelle R. Saari as Power of Attorney for Steven B. Hoyt dated November 11, 2003</signatureName>
        <signatureDate>2004-07-02</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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