-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Qa6GRnvbDtRP6O0FbLlFCtU5mncrdpeC0Z9zjfqZaWchUcR2nfllnTNUmQ2XvYzd
 gLv6nZBuSTwwViZ8GpQ01A==

<SEC-DOCUMENT>0001102730-03-000001.txt : 20030612
<SEC-HEADER>0001102730-03-000001.hdr.sgml : 20030612
<ACCEPTANCE-DATETIME>20030612165658
ACCESSION NUMBER:		0001102730-03-000001
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030430
FILED AS OF DATE:		20030612

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		12 S MAIN STREET
		STREET 2:		SUITE 100
		CITY:			MINOT
		STATE:			ND
		ZIP:			58701
		BUSINESS PHONE:		701-837-4738

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1988
		STREET 2:		SUITE 100
		CITY:			MINOT
		STATE:			ND
		ZIP:			58702-1988

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ANDERSON C MORRIS
		CENTRAL INDEX KEY:			0001102730

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14851
		FILM NUMBER:		03742504

	BUSINESS ADDRESS:	
		STREET 1:		12 SOUTH MAIN STREET
		CITY:			MINOT
		STATE:			ND
		ZIP:			58701
		BUSINESS PHONE:		7018374738

	MAIL ADDRESS:	
		STREET 1:		12 SOUTH MAIN STREET
		CITY:			MINOT
		STATE:			ND
		ZIP:			58701
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>

<ownershipDocument>

    <documentType>5</documentType>

    <periodOfReport>2003-04-30</periodOfReport>


    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000798359</issuerCik>
        <issuerName>INVESTORS REAL ESTATE TRUST</issuerName>
        <issuerTradingSymbol>IRETS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001102730</rptOwnerCik>
            <rptOwnerName>ANDERSON C MORRIS</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2002-07-01</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>65.544</value>
                <footnoteId id="F1"/>
            </transactionShares>
            <transactionValue>
                <value>10.25</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4648.863</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>Owned by wife</value>
                <footnoteId id="F4"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2002-10-01</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>69.251</value>
                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>9.975</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4648.863</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>Owned by wife</value>
                <footnoteId id="F4"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-01-17</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>73.473</value>
                <footnoteId id="F3"/>
            </transactionShares>
            <transactionValue>
                <value>9.61</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4648.863</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>Owned by wife</value>
                <footnoteId id="F4"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-04-10</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>P</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>78.074</value>
                <footnoteId id="F5"/>
            </transactionShares>
            <transactionValue>
                <value>9.25</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>4648.863</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>Owned by wife</value>
                <footnoteId id="F4"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Shares of Beneficial Interest</value>
        </securityTitle>
        <transactionDate>
            <value>2003-04-30</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>5</transactionFormType>
            <transactionCode>J</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F6"/>
        </transactionCoding>
        <transactionTimeliness>
            <value></value>
        </transactionTimeliness>
        <transactionAmounts>
            <transactionShares>
                <value>0</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>109.564</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>
            <natureOfOwnership>
                <value>with wife as JTTN</value>
                <footnoteId id="F4"/>
            </natureOfOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <footnotes>
        <footnote id="F1">1st Quarter Distribution - DRIP</footnote>
        <footnote id="F2">2nd Quarter Distribution - DRIP</footnote>
        <footnote id="F3">3rd Quarter Distribution - DRIP</footnote>
        <footnote id="F4">wife is Bette Lu Anderson</footnote>
        <footnote id="F5">4th Quarter Distribution - DRIP</footnote>
        <footnote id="F6">No acquisition or disposition; reporting fiscal year-end share balance only.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>C. Morris Anderson</signatureName>
        <signatureDate>2003-06-12</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----