8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 22, 2020

INVESTORS REAL ESTATE TRUST

(Exact name of Registrant as specified in its charter)

North Dakota	001-35624	45-0311232
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

1400 31st Avenue SW, Suite 60, Post Office Box 1988, Minot, ND 58702-1988

(Address of principal executive offices) (Zip code)

(701) 837-4738

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed from last report)

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Shares of Beneficial Interest, no par value	IRET	New York Stock Exchange
Series C Cumulative Redeemable Preferred Shares	IRET-PC	New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01.      Regulation FD Disclosure.

On April 22, 2020, Investors Real Estate Trust issued a press release announcing the date of its earnings release and conference call for the quarter ended March 31, 2020, provided a COVID-19 update on its apartment communities, and provided operating performance updates on rent collection, rent deferral, same-store occupancy, and resident retention through April 20, 2020. A copy of the press release is attached as Exhibit 99.1 to this report.

The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished pursuant to Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and it shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, except as expressly provided by specific reference in such a filing.

Item 9.01    Financial Statements and Exhibits.

Exhibits

Exhibit
Number	Description
99.1*	Press Release
101	Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL Document.

* Filed herewith

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	INVESTORS REAL ESTATE TRUST
	By	/s/ Mark O. Decker, Jr.
		Mark O. Decker, Jr.
Date: April 22, 2020		President and Chief Executive Officer

EX-99.1

IRET Announces Dates of 1^st Quarter 2020

Earnings Release and Conference Call

MINNEAPOLIS, MN, April 22, 2020 – IRET (NYSE: IRET) announced today that it will release its first quarter 2020 operating results after the market closes on Monday, May 11, 2020, and provided a business update related to the impacts of COVID-19 on its multifamily operations.

Community Update

IRET’s communities have continued operations in all material respects. The Company has implemented virtual leasing and tour technologies, electronic and telephonic servicing of resident requests and work orders; the Company continues to practice social distancing for emergency repairs.

“We are first and foremost taking care of the health and safety of our residents and our team members. Our mission is to provide a great home, and our teams have demonstrated that they can build strong communities even in a remote-working and virtual world,” said Mark O. Decker, Jr., IRET’s President and Chief Executive Officer.

Operating Performance Update

Through April 20, the Company has collected 96.9% of historical average monthly collections for the month of April 2020. Additionally, the Company has extended rent deferral payment plans to residents experiencing hardship due to COVID-19 and approximately 1% of April rent charges have been deferred through this program. As of April 20, 2020, same-store occupancy was 95.3%, and the Company has seen an increase in resident retention. During March 2020, 46% of residents with expiring leases moved out of IRET’s communities, but since April 1, 2020 only 36% of residents with expiring leases moved out of IRET’s communities.

Conference CallManagement will host a conference call to discuss its first quarter 2020 operating results on Tuesday, May 12, 2020, at 11:00 a.m. Eastern Time. The Company expects to be able to report not only on first quarter results, but also to provide an update on April results and early rent collections for May.

Interested parties may access the live conference call via the following:

Webcast	http://ir.iretapartments.com
USA Toll-Free Number	1-877-509-9785
International Toll-Free Number	1-412-902-4132
Canada Toll-Free Number	1-855-669-9657

Conference Call ReplayA replay of the call will be available one hour after the live call and through Tuesday, May 26, 2020.

USA Toll-Free Number	1-877-344-7529
International Toll-Free Number	1-412-317-0088
Canada Toll-Free Number	1-855-669-9658
Conference Number	10142637

A replay of the webcast will be archived for one year on the Investors section of IRET's website at www.iretapartments.com.

About IRET

IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2019, we owned interests in 69 apartment communities consisting of 11,953 apartment homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: "IRET" and "IRET-PC," respectively). IRET's press releases and supplemental information are available on its website at www.iretapartments.com or by calling Investor Relations at 701-837-7104.

Contact Information

Emily Miller

Treasury and Finance Analyst

Phone: 701-837-7104

E-mail:IR@iret.com

XML

Cover Page Cover Page	Apr. 22, 2020
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Apr. 22, 2020
Entity Registrant Name	INVESTORS REAL ESTATE TRUST
Entity Incorporation, State or Country Code	ND
Entity File Number	001-35624
Entity Tax Identification Number	45-0311232
Entity Address, Address Line One	1400 31st Avenue SW
Entity Address, Address Line Two	Suite 60
Entity Address, Address Line Three	Post Office Box 1988
Entity Address, City or Town	Minot
Entity Address, State or Province	ND
Entity Address, Postal Zip Code	58702
City Area Code	701
Local Phone Number	837-4738
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000798359
Amendment Flag	false
Common Shares
Entity Information [Line Items]
Title of 12(b) Security	Common Shares of Beneficial Interest, no par value
Trading Symbol	IRET
Security Exchange Name	NYSE
Series C Cumulative Redeemable Preferred Shares
Entity Information [Line Items]
Title of 12(b) Security	Series C Cumulative Redeemable Preferred Shares
Trading Symbol	IRET-PC
Security Exchange Name	NYSE