INVESTORS REAL ESTATE TRUST (NYSE:IRET) Files An 8-K Regulation FD Disclosure
Item 7.01.Regulation FD Disclosure.
IRET announced today that its Board of Directors approved a 1-for-10 reverse stock split of its outstanding shares. The reverse stock split is scheduled to take effect after the market closes on December27, 2018 (the “Effective Time”). IRET’s common shares are expected to begin trading on a split-adjusted basis on December 28, 2018. At the Effective Time, every ten (10) issued and outstanding shares of common stock of IRET will be converted into one (1) common share of IRET. Trading in the common stock will continue on the NYSE under the symbol “IRET,” but the security will be assigned a new CUSIP number. Additional information regarding the reverse stock split, as well as IRET’s previously announced change to a calendar year-end for financial reporting purposes, is set forth in Exhibit 99.1 attached hereto.
The information set forth in this Item 7.01, including Exhibit 99.1, is being furnished 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 7.01Financial Statements and Exhibits.
INVESTORS REAL ESTATE TRUST Exhibit
EX-99.1 2 pressrelease.htm EXHIBIT 99.1 Exhibit IRET Announces 1-for-10 Reverse Stock Split and Plan for Transition to Calendar Year-endMINNEAPOLIS,…
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About INVESTORS REAL ESTATE TRUST (NYSE:IRET)
Investors Real Estate Trust is a self-advised equity real estate investment trust (REIT). The Company’s business consists of owning and operating income-producing real estate properties. Its segments include Multifamily, Healthcare and All Other. Its investments consist of multifamily and healthcare properties located primarily in the upper Midwest states of Minnesota and North Dakota. It conducts its business operations through its operating partnership, IRET Properties, which is principally engaged in acquiring, owning, operating and leasing real estate. It invests in multifamily properties and commercial properties that are leased to single or multiple tenants, usually for approximately five years or longer. As of April 30, 2016, the Company held for investment 99 multifamily properties containing 12,950 apartment units and 47 commercial properties, consisting of healthcare, industrial, office and retail, containing approximately 2.9 million square feet of leasable space.