Key Developments: Investors Real Estate Trust (IRET.N)
9.62USD
21 May 2013
$-0.03 (-0.31%)
$9.65
$9.62
$9.65
$9.60
52,287
127,088
$10.02
$7.02
Latest Key Developments (Source: Significant Developments)
Investors Real Estate Trust Announces Completion of Public Offering of 6,013,300 Common Shares of Beneficial Interest
Investors Real Estate Trust announced the completion of an underwritten public offering of 6,013,300 common shares of beneficial interest, no par value per share, including 263,300 shares issued pursuant to the underwriters' over-allotment option, at a public offering price of $9.25 per share, for net proceeds of approximately $53.0 million, after deducting the underwriting discount and other estimated offering-related costs. The Company intends to contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general business purposes, which may include acquiring, developing, renovating, expanding or improving land and income-producing real estate properties in accordance with the Company's investment strategy and reducing its debt. BMO Capital Markets and Baird served as the joint book-running managers for the offering. D.A. Davidson & Co. and J.J.B. Hilliard, W.L. Lyons, LLC acted as co-managers. Full Article
Investors Real Estate Trust Announces Pricing Of Public Offering Of 5,750,000 Common Shares Of Beneficial Interest
Investors Real Estate Trust announced the pricing of its underwritten public offering of 5,750,000 common shares of beneficial interest, no par value per share, at a public offering price of $9.25 per share, for net proceeds of approximately $50.9 million, after deducting the underwriting discount and other estimated offering-related costs. The offering is expected to close on April 5, 2013 and is subject to customary closing conditions. The underwriters have a 30-day option to purchase up to an additional 1,200,000 Common Shares to cover over-allotments, if any. The Company intends to contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general business purposes, which may include acquiring, developing, renovating, expanding or improving land and income-producing real estate properties in accordance with the Company's investment strategy and reducing its debt. BMO Capital Markets and Baird are the joint book-running managers for the offering. D.A. Davidson & Co. and J.J.B. Hilliard, W.L. Lyons, LLC are acting as co-managers. Full Article
Investors Real Estate Trust Announces Public Offering Of Common Shares Of Beneficial Interest
Investors Real Estate Trust announced that the commencement of an underwritten public offering of 8,000,000 common shares of beneficial interest, no par value per share, of the Company (Common Shares). The Company intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 1,200,000 Common Shares at the public offering price to cover over-allotments, if any. The Common Shares will be offered pursuant to the Company's effective shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission on April 9, 2010. The Company intends to contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general business purposes, which may include acquiring, developing, renovating, expanding or improving land and income-producing real estate properties in accordance with the Company's investment strategy and reducing its debt. BMO Capital Markets, Baird and RBC Capital Markets are the joint book-running managers for the offering. Full Article
Investors Real Estate Trust Declares Regular Quarterly Common Share Distribution and Series A and Series B Preferred Share Distributions
Investors Real Estate Trust announced that its Board of Trustees has declared a regular quarterly distribution of $0.1300 per share/unit payable on April 1, 2013 to common shareholders and unitholders of record at the close of business on March 18, 2013. The previous regular quarterly distribution, also of $0.1300 per common share/unit, was paid January 15, 2013. Investors Real Estate Trust's Board of Trustees also declared on March 6, 2013 a distribution of $0.515625 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares. This distribution will be payable April 1, 2013 to Series A preferred shareholders of record at the close of business on March 18, 2013. Series A preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $2.0625 per share. Also on March 6, 2013, the Board of Trustees declared a distribution of $0.496875 per share on the Company's 7.95% Series B Cumulative Redeemable Preferred Shares, payable April 1, 2013 to Series B preferred shareholders of record at the close of business on March 18, 2013. Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share. Full Article
Investors Real Estate Trust Declares Regular Quarterly Distribution
Investors Real Estate Trust announced that Board of Trustees has declared a regular quarterly distribution of $0.1300 per share/unit payable on January 15, 2013 to common shareholders and unitholders of record at the close of business on January 2, 2013. Full Article
Investors Real Estate Trust Declares Regular Quarterly Common Share Distribution and Series A and Series B Preferred Share Distributions
Investors Real Estate Trust announced that its Board of Trustees has declared a regular quarterly distribution of $0.1300 per share/unit payable on October 1, 2012 to common shareholders and unitholders of record at the close of business on September 17, 2012. The previous regular quarterly distribution, also of $0.1300 per common share/unit, was paid July 2, 2012. Investors Real Estate Trust's Board of Trustees also declared on September 4, 2012 a distribution of $0.515625 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares. This distribution will be payable October 1, 2012 to Series A preferred shareholders of record at the close of business on September 17, 2012. Series A preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $2.0625 per share. Also on September 4, 2012, the Board of Directors declared a distribution for the initial distribution period from, but excluding, July 31, 2012 to, but excluding, September 30, 2012, of $0.33125 per share on the Company's 7.95% Series B Cumulative Redeemable Preferred Shares payable October 1, 2012 to Series B preferred shareholders of record at the close of business on September 17, 2012. Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share. Full Article
Investors Real Estate Trust Announces Completion of Public Offering of 7.95% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest
Investors Real Estate Trust announced the full exercise of the underwriters' over-allotment option and the sale of an additional 600,000 shares of the Company's 7.95% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest (Liquidation Preference $25 per Share), no par value per share (the Series B Preferred Shares). The Company also announced the closing on the Series B Offering of 4,600,000 Series B Preferred Shares, including 600,000 Series B Preferred Shares pursuant to the full exercise of the underwriters' over-allotment option, at a public offering price of $25.00 per share. Total net proceeds, after deducting the underwriting discount and estimated offering-related costs payable by the Company, were approximately $111.2 million. The Company will contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general business purposes, including the acquisition, development, renovation, expansion or improvement of income-producing real estate properties and debt repayment. Robert W. Baird & Co. Incorporated and RBC Capital Markets, LLC were the joint book-running managers of the offering. D.A. Davidson & Co. was the co-lead manager. Janney Montgomery Scott LLC; Wunderlich Securities, Inc.; J.J.B. Hilliard, W.L. Lyons, LLC; and Ladenburg Thalmann & Co. Inc. acted as co-managers. Full Article
Investors Real Estate Trust Announces Pricing of Public Offering of 7.95% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest
Investors Real Estate Trust announced the pricing of an underwritten public offering of 4,000,000 shares of its 7.95% Series B Cumulative Redeemable Preferred Shares of Beneficial Interest (Liquidation Preference $25 per Share), no par value per share (the Series B Preferred Shares), at a public offering price of $25.00 per share, for gross proceeds of approximately $100 million, before deducting the underwriting discount and other estimated offering-related costs. The underwriters have a 30-day option to purchase up to an additional 600,000 shares to cover overallotments, if any. The Company intends to apply to list the Series B Preferred Shares on the New York Stock Exchange under the symbol IRET PRB. The offering is expected to close on August 7, 2012 and is subject to customary closing conditions. The Company will contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general business purposes, including the acquisition, development, renovation, expansion or improvement of income-producing real estate properties and debt repayment. Robert W. Baird & Co. Incorporated and RBC Capital Markets, LLC are the joint book-running managers of the offering. D.A. Davidson & Co. is the co-lead manager. Janney Montgomery Scott LLC; Wunderlich Securities, Inc.; J.J.B. Hilliard, W.L. Lyons, LLC; and Ladenburg Thalmann & Co. Inc. are acting as co-managers. Full Article
Investors Real Estate Trust Announces Public Offering Of Series B Cumulative Preferred Shares Of Beneficial Interest
Investors Real Estate Trust announced the commencement of an underwritten public offering of its Series B Cumulative Redeemable Preferred Shares of Beneficial Interest (Liquidation Preference $25 per Share), no par value per share (the Series B Preferred Shares). The Series B Preferred Shares will be offered pursuant to the Company's effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission. The Company will contribute the net proceeds of the offering to its operating partnership, which will use the net proceeds for general business purposes, including the acquisition, development, renovation, expansion or improvement of income-producing real estate properties and debt repayment. Baird and RBC Capital Markets, LLC are the joint book-running managers of the offering. D.A. Davidson & Co. is the co-lead manager. Janney Montgomery Scott, Wunderlich Securities, J.J.B. Hilliard, W.L. Lyons, LLC and Ladenburg Thalmann & Co. Inc. are acting as co-managers. Full Article
Investors Real Estate Trust Declares Regular Quarterly Common Share Distribution, And Declares Series A Preferred Share Distribution
Investors Real Estate Trust announced that the Board of Trustees has declared a regular quarterly distribution of $0.13 per share/unit payable on April 2, 2012, to common shareholders and unitholders of record at the close of business on March 19, 2012. Investors Real Estate Trust's Board of Trustees also declared a distribution of 51.5625 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares. This distribution will be payable April 2, 2012 to Series A preferred shareholders of record on March 19, 2012. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
