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Investors Real Estate Trust: 2Q Earnings Snapshot

August 7, 2019

MINOT, N.D. (AP) _ Investors Real Estate Trust (IRET) on Wednesday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Minot, North Dakota, said it had funds from operations of $12.9 million, or $1 per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $1.4 million, or 11 cents per share.

The real estate investment trust, based in Minot, North Dakota, posted revenue of $46.9 million in the period.

Investors Real Estate Trust expects full-year funds from operations in the range of $3.62 to $3.72 per share.

The company’s shares have climbed 33% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $65.18, a climb of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IRET at https://www.zacks.com/ap/IRET

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