Investors Real Estate Trust is a Minot, North Dakota-based self-advised equity real estate investment trust (REIT). The company was incorporated in August 1997 and continues to operate as a publicly traded entity. Common shares of the business are marketed on the New York Stock Exchange, using the ticker symbol IRET.
As a REIT, the business operates in 5 reporting segments, namely healthcare, industrial, retail, multi-family residential and office. The properties owned and managed by the company are focused on the Midwest states of North Dakota and Minnesota. The company has been around since 1970 and has strongly focused its resources on the owning and operating of income-producing real estate properties located in the two states, until it started expanding in nearby states. Over 400 people are working for the company on a full-time basis. These employees operate in 10 states, while the properties owned and managed by the company are located in 12 states. In total, these properties comprise the $2 billion assets owned by the company.
As of April 2015, the company’s portfolio is comprised of 100 multi-family residential properties, office properties with more than 4.2 million square feet in leasable space, 7 industrial properties with a total of 1. Million square feet of leasable space, 23 retail properties and 66 healthcare properties. Their multi-family residential properties have a total of more than 11,800 apartment units. They have a strong presence in the states of South Dakota, Wisconsin, Wyoming, Iowa, Idaho, Colorado, Missouri and Kansas, among other states.
The business is listed as one of the components of the Wilshire 5000 Index. It is the owner of some of the renowned establishments in several states, including the 2800 Medical Building in Minneapolis, Barry Pointe Office Park in Kansas City and the High Pointe Health Campus in Lake Elmo.
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