IRET Announces Distributions for the Second Quarter of Fiscal Year 2018

MINOT, N.D., Sept. 5, 2017 /PRNewswire/ -- IRET (NYSE:IRET) announced today that its Board of Trustees declared a regular quarterly distribution of $0.07 per share/unit payable on October 2, 2017, to common shareholders and unitholders of record at the close of business on September 15, 2017.  This distribution will be the 186th consecutive quarterly distribution paid by IRET since its inception in 1970.

The Board of Trustees also declared a distribution of $0.496875 per share on the 7.95% Series B Cumulative Redeemable Preferred Shares (NYSE:IRET PRB) payable on October 2, 2017, to holders of record at the close of business on September 15, 2017.  Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share.

About IRET
IRET focuses on the acquisition, development, redevelopment and management of multifamily communities located primarily in select growth markets.  As of April 30, 2017, IRET owned interests in 129 properties that were held for investment, consisting of: (1) 87 multifamily properties consisting of 12,885 units, and (2) 42 commercial properties, including 29 healthcare properties, containing a total of approximately 2.6 million square feet of leasable space.  IRET's common shares and Series B preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: IRET and IRETPRB, respectively).  IRET's press releases and supplemental information are available on the Investors section of its website at www.iretapartments.com or by contacting Investor Relations at 701-837-7104.

Contact Information
Matthew Volpano
Senior Vice President – Capital Markets
Phone: 701-837-7104
E-mail: IR@iret.com

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SOURCE IRET