<SEC-DOCUMENT>0000798359-14-000082.txt : 20140919
<SEC-HEADER>0000798359-14-000082.hdr.sgml : 20140919
<ACCEPTANCE-DATETIME>20140919151753
ACCESSION NUMBER:		0000798359-14-000082
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20140919
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
FILED AS OF DATE:		20140919
DATE AS OF CHANGE:		20140919

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INVESTORS REAL ESTATE TRUST
		CENTRAL INDEX KEY:			0000798359
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				450311232
		STATE OF INCORPORATION:			ND
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35624
		FILM NUMBER:		141111925

	BUSINESS ADDRESS:	
		STREET 1:		1400 31ST AVENUE SW, SUITE 60
		STREET 2:		PO BOX 1988
		CITY:			MINOT
		STATE:			ND
		ZIP:			58702-1988
		BUSINESS PHONE:		701-837-4738

	MAIL ADDRESS:	
		STREET 1:		1400 31ST AVENUE SW, SUITE 60
		STREET 2:		PO BOX 1988
		CITY:			MINOT
		STATE:			ND
		ZIP:			58702-1988
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>iret8kvotetotal2014.htm
<DESCRIPTION>CURRENT REPORT
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">UNITED STATES</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SECURITIES AND EXCHANGE COMMISSION</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington, D.C. 20549</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">FORM 8-K</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt">Date of Report (date of earliest event reported):</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><u>September 19, 2014 (September 16, 2014)</u></div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">INVESTORS REAL ESTATE TRUST</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter)</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">North Dakota</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">0-14851</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">45-0311232</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">(State or other jurisdiction</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">of incorporation)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">File Number)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">(IRS Employer</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Identification No.)</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">1400 31<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup> Avenue SW, Suite 60</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">PO Box 1988</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Minot, ND 58702</div>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">(Address of principal executive offices, including zip code)</div>
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<div style="TEXT-ALIGN: center; MARGIN-TOP: 10pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">(701) 837-4738</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt">(Registrant's telephone number, including area code)</div>

<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>

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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Written communications pursuant to Rule 425 under the Securities Act</td>
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<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act</td>
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<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#9633;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act</td>
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<td style="WIDTH: 18pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top; align: right">&#9633;</td>
<td style="TEXT-ALIGN: justify; WIDTH: auto; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act</td>
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<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt">&#160;</div>

<div style="MARGIN-TOP: 10pt; MARGIN-BOTTOM: 10pt; CLEAR: both" id="DSPFPageBreakArea">
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<div style="TEXT-ALIGN: left; MARGIN-BOTTOM: 9pt">&#160;</div>

<div style="TEXT-ALIGN: left; MARGIN-BOTTOM: 9pt">
<div style="TEXT-ALIGN: left; MARGIN-BOTTOM: 9pt"><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 5.07.</font><font style="FONT-SIZE: 5.14pt" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Submission of Matters to a Vote of Security Holders.</font></div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt">On September 16, 2014, the Company held its 2014 Annual Meeting of Shareholders (the "Annual Meeting").&#160; As of July 18, 2014, the record date for shareholders entitled to vote at the Annual Meeting, there were 114,608,557 common shares of beneficial interest ("Shares") outstanding and entitled to vote at the Annual Meeting.&#160; Of the Shares entitled to vote, 86,163,297, or approximately 75.18% of the Shares, were present or represented by proxy at the Annual Meeting, constituting a quorum under the Company's Articles of Amendment and Third Restated Declaration of Trust.&#160; There were three matters presented and voted on at the Annual meeting.&#160; Set forth below is a brief description of each matter voted on at the Annual Meeting and the final voting results with respect to each such matter.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Proposal 1 &#8211;Election of eight nominees to serve on the Board of Trustees for a one-year term and until their respective successors are duly elected.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Nominee</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For</div>
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<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Against</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Abstain</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Broker Non-Votes</div>
</td>
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<tr>
<td style="WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">31,574,616</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Linda Hall</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,821,733</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3,307,606</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">459,342</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Terrance Maxwell</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">48,197,654</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5,939,832</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">451,195</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Timothy Mihalick</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,113,649</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">4,118,878</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">356,154</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Jeffrey Miller</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">51,812,420</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,502,601</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">273,660</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Stephen Stenehjem</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">48,231,698</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">5,961,347</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">395,636</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">John Stewart</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">51,700,665</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,511,237</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">376,779</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Thomas Wentz, Jr.</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">50,494,168</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">3,732,490</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">362,023</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 19.46%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Jeffrey Woodbury</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20.54%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">51,778,250</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,378,183</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">432,248</div>
</td>
<td style="BACKGROUND-COLOR: #ffffff; WIDTH: 20%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
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</table>

<div style="MARGIN-BOTTOM: 9pt"><br>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt">The shareholders elected all eight of the Company's nominees for trustee.</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Proposal 2 &#8211;Non-binding advisory resolution on executive compensation.</div>

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<tr>
<td style="WIDTH: 19.94%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20.04%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20.01%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Against</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Abstain</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20.05%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Broker Non-Votes</div>
</td>
</tr>

<tr>
<td style="WIDTH: 19.94%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20.04%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20.01%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 19.97%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20.05%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">31,574,616</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.94%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Votes Cast</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.04%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">52,042,926</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.01%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">2,056,479</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">489,276</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.05%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 9pt"><br>
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<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Proposal 3 &#8211;Ratification of Grant Thornton LLP as the Company's independent registered public accounting firm for fiscal year 2015.</div>

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<td style="WIDTH: 19.94%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20.04%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">For</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20.01%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Against</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 19.97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Abstain</div>
</td>
<td style="BORDER-BOTTOM: #000000 2px solid; WIDTH: 20.05%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Broker Non-Votes</div>
</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="WIDTH: 19.94%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20.04%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20.01%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 19.97%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 20.05%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">0</div>
</td>
</tr>

<tr>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.94%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Votes Cast</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.04%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">84,270,988</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.01%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">430,405</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 19.97%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">1,461,904</div>
</td>
<td style="BACKGROUND-COLOR: #cceeff; WIDTH: 20.05%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>
</table>

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</div>

<div style="TEXT-ALIGN: center; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 14.4pt; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURE</div>
</div>

<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 14.4pt; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<td style="WIDTH: 35.36%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
<td style="WIDTH: 64.64%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: left; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt; FONT-WEIGHT: bold">INVESTORS REAL ESTATE TRUST</div>
</td>
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<div>&#160;</div>
</td>
<td style="WIDTH: 64.64%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
</tr>

<tr>
<td style="WIDTH: 35.36%; VERTICAL-ALIGN: top">
<div>&#160;</div>
</td>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">By: /s/&#160; Timothy P. Mihalick</div>
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<div>&#160;</div>
</td>
<td style="WIDTH: 64.64%; VERTICAL-ALIGN: top">
<div style="TEXT-ALIGN: justify; TEXT-INDENT: 31.5pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">Timothy P. Mihalick</div>
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<div>&#160;</div>
</td>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 31.5pt; FONT-FAMILY: ''Times New Roman'', Times, serif; FONT-SIZE: 10pt">President &amp; Chief Executive Officer</div>
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<div style="TEXT-ALIGN: justify; FONT-FAMILY: ''Times New Roman'', Times, serif; MARGIN-BOTTOM: 10pt; FONT-SIZE: 10pt">Date: September 19, 2014</div>

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