Investors Real Estate Trust (IRET) said Monday that it has commenced an underwritten public offering of 8 million common shares of beneficial interest, no par value per share, of the company.
The company plans to grant the underwriters of the offering a 30-day option to purchase up to an additional 1.2 million common shares at the public offering price to cover over-allotments, if any.
The company said it plans 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.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.