Investors Real Estate Trust (IRET) 2015年年度报告「NASDAQ」.pdf

1、INVESTORS REAL ESTATE TRUST2015 A N N U A L R E P O RTFellow shareholders,In a significant shift in strategy,IRET has disposed of most of our commercial office and retail properties to continue on our focused strategy of multifamily residential and healthcare properties.I believe this move will grea

2、tly streamline our business model and help accelerate growth.The Company continues to demonstrate its ability to grow topline revenue,manage controllable expenses,and dispose of non-core assets.Additionally,we have an impressive$205 million of new projects coming online in just the next six months!W

3、e think these initiatives will result in a more growth-oriented portfolio,provide greater financial flexibility,strengthen net operating income,and make us a leader in our markets.“Management is transforming our portfolio to improve the predictability of earnings and cash flow by disposing of our of

4、fice and retail properties,and concentrating efforts on apartments and healthcare.New developments and acquisitions in these segments will help propel growth and create an exciting future for IRET.”A transformational year for IRETPresident&CEO Timothy MihalickThe majority of the proceeds from these

5、sales will be utilized to reduce leverage and provide capital to fund further acquisitions and developments.We will of course provide updates on these initiatives over the coming months in fiscal 2016.(Statements about IRETs future expectations and plans are“forward-looking statements,”subject to ri

6、sks and uncertainties as disclosed more fully in the attached Annual Report on Form 10-K,under“Special Note Regarding Forward-Looking Statements.”)President&CEO Timothy Mihalick$7.17 stock price138,455,349 shares and units outstanding$993 M market cap7.3%dividend yield$0.13 common share quarterly di