{"id":11498,"date":"2020-05-13T10:15:00","date_gmt":"2020-05-13T10:15:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/"},"modified":"2020-05-13T10:15:00","modified_gmt":"2020-05-13T10:15:00","slug":"iret-reports-first-quarter-2020-financial-and-operating-results","status":"publish","type":"post","link":"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/","title":{"rendered":"IRET Reports First Quarter 2020 Financial and Operating Results"},"content":{"rendered":"<p>&nbsp;IRET&nbsp;announced today its financial and operating results for the quarter ended&nbsp;<span class=\"xn-chron\">March 31<\/span>, 2020.&nbsp; The tables below show Net Income (Loss), Funds from Operations (&#8220;FFO&#8221;), and Core FFO, all on a per share basis, for the three months ended March&nbsp;31, 2020; Same-Store Revenues, Expenses, and Net Operating Income (&#8220;NOI&#8221;) over comparable periods; and Same-Store Weighted-Average Occupancy for the three months ended March&nbsp;31, 2020,&nbsp;<span class=\"xn-chron\">December 31, 2019<\/span>, and March&nbsp;31, 2019. We have also included certain operating results for the month ended&nbsp;<span class=\"xn-chron\">April 30, 2020<\/span>.<\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prnsbtb1 prnsbr1 prnvab prnsbbb1 prntar prnpl6 prnsblb1 prnpr8\">&nbsp;<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen5\" colspan=\"7\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Three Months Ended March 31,<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Per Share<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">&nbsp;<\/td>\n<td class=\"prngen8\" colspan=\"3\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>2020<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen9\">&nbsp;<\/td>\n<td class=\"prngen8\" colspan=\"3\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>2019<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Net Income (Loss) &#8211; diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">(0.67)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">(0.54)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">FFO &#8211; diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">0.66<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">0.77<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Core FFO &#8211; diluted<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">0.90<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">0.77<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen12\">&nbsp;<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen13\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Year-Over-Year<\/strong><\/span><\/p>\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Comparison<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen13\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Sequential<\/strong><\/span><\/p>\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Comparison<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Same-Store Results<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">&nbsp;<\/td>\n<td class=\"prngen15\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>1Q20 vs. 1Q19<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen7\">&nbsp;<\/td>\n<td class=\"prngen15\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>1Q20 vs. 4Q19<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">3.9<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">1.6<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">4.0<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">5.7<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">NOI<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">3.8<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\">&nbsp;<\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">(1.4)<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prngen19\">&nbsp;<\/td>\n<td class=\"prngen20\">&nbsp;<\/td>\n<td class=\"prnsbtb1 prnsbr1 prnvab prnsbbs prntac prnpl14 prnsblb1 prnpr6\" colspan=\"8\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Three months ended<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Same-Store Results<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen20\">&nbsp;<\/td>\n<td class=\"prnsbts prnsbr1 prnvab prnsbbs prntac prnpl14 prnsblb1 prnpr6\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>March 31, 2020<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen20\">&nbsp;<\/td>\n<td class=\"prngen23\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>December 31, 2019<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen20\">&nbsp;<\/td>\n<td class=\"prngen23\" colspan=\"2\" nowrap=\"nowrap\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>March 31, 2019<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Weighted Average Occupancy<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">95.4<\/span><\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">94.0<\/span><\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">95.6<\/span><\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<td class=\"prngen11\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p>NOI, FFO, and Core FFO are non-GAAP financial measures.&nbsp; For more information on their usage and presentation, and a reconciliation to the most directly comparable GAAP measures, refer to &#8220;Non-GAAP Financial Measures and Reconciliations&#8221; below.<\/p>\n<p><strong>First Quarter 2020 Highlights<\/strong><\/p>\n<ul>\n<li>Our Net Loss was&nbsp;<span class=\"xn-money\">$0.67<\/span>&nbsp;per diluted share for the first quarter of 2020, compared to a Net Loss of&nbsp;<span class=\"xn-money\">$0.54<\/span>&nbsp;per share for the same quarter in 2019;<\/li>\n<li>Core FFO increased by 16.9%, to&nbsp;<span class=\"xn-money\">$0.90<\/span>&nbsp;per diluted share for the first quarter of 2020, compared to&nbsp;<span class=\"xn-money\">$0.77<\/span>&nbsp;per diluted share for the first quarter of 2019;<\/li>\n<li>Same-store revenues increased by 3.9% for the first quarter of 2020 compared to the first quarter of 2019;<\/li>\n<li>Same-store NOI increased by 3.8% for the first quarter of 2020 compared to the first quarter of 2019;<\/li>\n<li>Same-store weighted average occupancy increased to 95.4% at&nbsp;<span class=\"xn-chron\">March 31, 2020<\/span>&nbsp;from 94.0% at&nbsp;<span class=\"xn-chron\">December 31, 2019<\/span>;<\/li>\n<li>We completed the acquisition of Ironwood Apartments, a 182-home apartment community located in&nbsp;<span class=\"xn-location\">New Hope, Minnesota<\/span>, an inner-ring suburb of&nbsp;<span class=\"xn-location\">Minneapolis, Minnesota<\/span>; and<\/li>\n<li>We undertook efforts to minimize the impact of COVID-19 on our team, residents, and apartment communities, as described in greater detail under &#8220;COVID-19 Developments&#8221; below.<\/li>\n<\/ul>\n<p><strong>Acquisitions and Dispositions<\/strong><\/p>\n<p>During the first quarter, we acquired Ironwood Apartments, for an aggregate purchase price of&nbsp;<span class=\"xn-money\">$46.3 million<\/span>, of which&nbsp;<span class=\"xn-money\">$28.6 million<\/span>&nbsp;was paid in cash and&nbsp;<span class=\"xn-money\">$17.7 million<\/span>&nbsp;from payoff of a note receivable. We did not have any dispositions during the first quarter of 2020.<\/p>\n<p><strong>Balance Sheet<\/strong><\/p>\n<p>At the end of the first quarter, we had&nbsp;<span class=\"xn-money\">$193.3 million<\/span>&nbsp;of total liquidity on our balance sheet, including&nbsp;<span class=\"xn-money\">$167.0 million<\/span>&nbsp;available under our line of credit.<\/p>\n<p><strong>2020 Financial Outlook<\/strong><\/p>\n<p>On&nbsp;<span class=\"xn-chron\">March 27, 2020<\/span>, we issued a press release, which was also filed on a Current Report on Form 8-K, indicating that, in light of the impact of the coronavirus (COVID-19) on our business and results of operations, we were withdrawing our 2020 Financial Outlook.&nbsp; We will not be providing a 2020 Financial Outlook at this time.<\/p>\n<p><strong>Operations Update<\/strong><\/p>\n<p>Our operating results for the month ended&nbsp;<span class=\"xn-chron\">April 30, 2020<\/span>, included the following:<\/p>\n<ul>\n<li>Total rental revenue for same-store communities for the month ended&nbsp;<span class=\"xn-chron\">April 30, 2020<\/span>&nbsp;was unchanged from the same period of the prior year.<\/li>\n<li>Physical occupancy for same-store communities as of&nbsp;<span class=\"xn-chron\">April 30, 2020<\/span>&nbsp;was 95.5%, compared to 95.1% as of&nbsp;<span class=\"xn-chron\">April 30, 2019<\/span>&nbsp;and 94.0% as of&nbsp;<span class=\"xn-chron\">December 31, 2019<\/span>.<\/li>\n<li>Delinquencies as a percentage of total revenue at all communities for the month ended&nbsp;<span class=\"xn-chron\">April 30, 2020<\/span>&nbsp;was 1.6%, compared to 0% for the month ended&nbsp;<span class=\"xn-chron\">April 30, 2019<\/span>&nbsp;and 0.2% for the three months ended&nbsp;<span class=\"xn-chron\">March 31, 2020<\/span>.<\/li>\n<li>We entered into 134 rent deferral agreements representing&nbsp;<span class=\"xn-money\">$156,000<\/span>&nbsp;in&nbsp;<span class=\"xn-chron\">April 2020<\/span>&nbsp;rent charges at all communities. Under these agreements, residents experiencing financial hardship due to the effects of the COVID-19 pandemic have committed to payment plans for repayment of deferred amounts on or before&nbsp;<span class=\"xn-chron\">October 31, 2020<\/span>. As of&nbsp;<span class=\"xn-chron\">April 30, 2020<\/span>, approximately&nbsp;<span class=\"xn-money\">$93,000<\/span>&nbsp;remained outstanding under the repayment plans.<\/li>\n<\/ul>\n<p><strong>COVID-19 Developments<\/strong><\/p>\n<p>The effects of the COVID-19 pandemic, including the associated economic disruptions, has had a profound impact on our business since&nbsp;<span class=\"xn-chron\">March 2020<\/span>&nbsp;as the pandemic spread to many of the communities in which we own properties. Our first priority continues to be the health and well-being of our residents, team members, and the communities we serve. We are working to care for our team members and modify our practices so that we can continue to service our communities while requiring social distancing and remote work arrangements where possible.<\/p>\n<p>In order to minimize the impact of COVID-19 on our team, residents, and communities, we undertook the following measures in&nbsp;<span class=\"xn-chron\">March 2020<\/span>:<\/p>\n<ul>\n<li>We enacted social distancing practices for our team and within our communities in order to do our part to stop the spread of COVID-19, including encouraging residents to use electronic or phone communication when contacting our staff;<\/li>\n<li>We closed all common amenity spaces, including on-site fitness centers, community rooms, swimming pools, resident coffee services, and conference facilities, until further notice in an effort to support social distancing and comply with governmental regulations;<\/li>\n<li>We enhanced cleaning and disinfecting protocols at our communities;<\/li>\n<li>We announced that maintenance requests requiring unit entry would be completed for essential or emergency services only;<\/li>\n<li>We closed our offices to the public, and our leasing is being done on-line and through virtual tours;<\/li>\n<li>We extended&nbsp;<span class=\"xn-chron\">April 2020<\/span>&nbsp;rent deadlines;<\/li>\n<li>We waived all fees associated with credit card payments;<\/li>\n<li>We suspended eviction filings in accordance with government regulations;<\/li>\n<li>We started offering rental deferment payment plans to residents experiencing COVID-19-related financial hardship; and<\/li>\n<li>We began offering flexible lease renewal terms.<\/li>\n<\/ul>\n<p>COVID-19 will continue to have a significant impact on our business for the foreseeable future. Ongoing social distancing requirements and stay-at-home directives affect the daily lives of our employees and residents and impact our ability to show apartments homes to potential residents, while the ongoing loss of jobs and rising unemployment levels affect the ability of certain our of residents to pay rent on a timely basis.&nbsp; Many experts predict that the outbreak will trigger, or has already triggered, a global recession.<\/p>\n<p>The COVID-19 pandemic could have material and adverse effects on our financial condition, results of operations, and cash flows, including the following effects:<\/p>\n<ul>\n<li>reduced economic activity and rising unemployment could severely impact our residents&#8217; ability to pay rent on a timely basis; and residents may seek lease deferment payment plans or rent reductions, resulting in increases in uncollectible receivables and reductions in rental income, which could reduce NOI and cash flow;<\/li>\n<li>the negative financial impact of the pandemic could impact our future compliance with financial covenants in our credit facility and other debt agreements;<\/li>\n<li>weaker economic conditions could cause us to recognize impairment in value of our tangible or intangible assets; and<\/li>\n<li>we may need to record loss contingencies and increased expenses related to our COVID-19 response.<\/li>\n<\/ul>\n<p>The extent to which the COVID-19 pandemic impacts our operations and those of our residents will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity, and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others.<\/p>\n<p>For a more detailed description of the risks and uncertainties affecting our business, see the risk factors presented in&nbsp; our Annual Report on Form 10-K for the fiscal year ended&nbsp;<span class=\"xn-chron\">December 31, 2019<\/span>, as updated under Item 1A of our Quarterly Report on Form 10-Q for the quarter ended&nbsp;<span class=\"xn-chron\">March 31, 2020<\/span>&nbsp;(which was filed with the SEC on&nbsp;<span class=\"xn-chron\">May 11, 2020<\/span>), and in our subsequent current and periodic reports filed with the Securities and Exchange Commission at&nbsp;www.sec.gov.<\/p>\n<p><strong>Upcoming Events<\/strong><\/p>\n<p>On&nbsp;<span class=\"xn-chron\">May 19, 2020<\/span>, at&nbsp;<span class=\"xn-chron\">9:00 a.m. CDT<\/span>, we will be holding our 2020 Annual Meeting of Shareholders, which will be our 50th Annual Meeting.&nbsp; Due to the effects of COVID-19, this will be a virtual-only meeting.&nbsp; To participate in and\/or vote at the virtual Annual Meeting, shareholders should pre-register by&nbsp;<span class=\"xn-chron\">11:59 p.m. EDT<\/span>&nbsp;on&nbsp;<span class=\"xn-chron\">May 16, 2020<\/span>&nbsp;at&nbsp;http:\/\/viewproxy.com\/iret\/2020. Shareholders must enter the control number found in their proxy materials, either on the Notice of Internet Availability of Proxy Materials, the proxy card, or the voting instruction form. IRET urges shareholders to vote and submit proxies in advance of the Annual Meeting by one of the methods described in the proxy materials for the Annual Meeting. To participate in the Annual Meeting, shareholders will need the event passcode provided to them after they have successfully registered. The Annual Meeting will begin promptly at&nbsp;<span class=\"xn-chron\">9:00 a.m. CDT<\/span>. We encourage shareholders to access the Annual Meeting prior to the start time. Online access will begin at&nbsp;<span class=\"xn-chron\">8:45 a.m. CDT<\/span>.<\/p>\n<p><strong>Quarterly Distributions<\/strong><\/p>\n<p>Effective&nbsp;<span class=\"xn-chron\">March 5, 2020<\/span>, IRET&#8217;s Board of Trustees declared a regular quarterly distribution of&nbsp;<span class=\"xn-money\">$0.70<\/span>&nbsp;per share\/unit, which was paid on&nbsp;<span class=\"xn-chron\">April 9, 2020<\/span>, to common shareholders and unitholders of record on&nbsp;<span class=\"xn-chron\">March 31<\/span>, 2020.&nbsp; IRET has paid cash dividends to common shareholders and unitholders every quarter since its initial dividend payment in 1971.<\/p>\n<p>Effective&nbsp;<span class=\"xn-chron\">March 5, 2020<\/span>, IRET&#8217;s Board of Trustees also declared a distribution of&nbsp;<span class=\"xn-money\">$0.4140625<\/span>&nbsp;per share on the 6.625% Series C Cumulative Redeemable Preferred Shares ,&nbsp;which was paid on&nbsp;<span class=\"xn-chron\">March 31, 2020<\/span>, to holders of record on March&nbsp;16, 2020.&nbsp; Series C preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of&nbsp;<span class=\"xn-money\">$1.65625<\/span>&nbsp;per share.<\/p>\n<p>To maintain our qualification as a REIT, we must pay dividends to our shareholders aggregating annually at least 90% of our REIT taxable income, excluding net capital gains. Under a separate requirement, we must distribute 100% of net capital gains or pay a corporate level tax in lieu thereof. While we have historically satisfied this distribution requirement by making cash distributions to our shareholders, if our cash flow becomes restricted due to the economic disruption caused by COVID-19 or other factors, we may choose to satisfy this requirement by making distributions of other property, including our own common shares as allowed by the REIT rules.<\/p>\n<p><strong>Earnings Call<\/strong><\/p>\n<div>\n<div class=\"divOverflow\">\n<div class=\"table-responsive\">\n<table class=\"prntblns\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"prnsbtb1 prnsbr1 prnvab prnsbb1 prnpl6 prnsblb1 prnpr6\" colspan=\"5\">\n<p class=\"prnml2 dnr\"><span class=\"prnews_span\">Live webcast and replay: &nbsp;http:\/\/ir.iretapartments.com<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\" colspan=\"2\">&nbsp;<\/td>\n<td class=\"prngen29\">&nbsp;<\/td>\n<td class=\"prngen29\" colspan=\"2\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Live Conference Call<\/strong><\/span><\/p>\n<\/td>\n<td class=\"prngen30\">&nbsp;<\/td>\n<td class=\"prngen31\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\"><strong>Conference Call Replay<\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Tuesday, May 12, 2020, at 11:00 AM ET<\/span><\/p>\n<\/td>\n<td class=\"prngen30\">&nbsp;<\/td>\n<td class=\"prnsbt1 prnrbrb1 prnvab prnsbb1 prnpl6 prnsbl1 prnpr6\" colspan=\"2\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Replay available until May 26, 2020<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb1 prnrbrb1 prnvab prnsbbb1 prnpl6 prnsblb1 prnpr6\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">USA Toll Free Number<\/span><\/p>\n<\/td>\n<td class=\"prngen34\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">1-877-509-9785<\/span><\/p>\n<\/td>\n<td class=\"prngen30\">&nbsp;<\/td>\n<td class=\"prngen34\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">USA Toll Free Number<\/span><\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">1-877-344-7529<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">International Toll Free Number<\/span><\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">1-412-902-4132<\/span><\/p>\n<\/td>\n<td class=\"prngen30\">&nbsp;<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">International Toll Free Number<\/span><\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">1-412-317-0088<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Canada Toll Free Number<\/span><\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">1-855-669-9657<\/span><\/p>\n<\/td>\n<td class=\"prngen30\">&nbsp;<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Canada Toll Free Number<\/span><\/p>\n<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">1-855-669-9658<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen35\">&nbsp;<\/td>\n<td class=\"prngen30\">&nbsp;<\/td>\n<td class=\"prngen30\">&nbsp;<\/td>\n<td class=\"prngen31\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">Conference Number<\/span><\/p>\n<\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p dnr\"><span class=\"prnews_span\">10142637<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<\/div>\n<p><strong>Supplemental Information<\/strong><\/p>\n<p>Supplemental Operating and Financial Data for the quarter ended March&nbsp;31, 2020 included herein (&#8220;Supplemental Information&#8221;), is available in the Investors section on IRET&#8217;s website at&nbsp;www.iretapartments.com&nbsp;or by calling Investor Relations at 701-837-7104.<\/p>\n<p><strong>About IRET<\/strong><\/p>\n<p>IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities.&nbsp; As of March&nbsp;31, 2020, we owned interests in 70&nbsp;apartment communities consisting of 12,135&nbsp;apartment homes.&nbsp;&nbsp;IRET&#8217;s common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: &#8220;IRET&#8221; and &#8220;IRET&nbsp;PC,&#8221; respectively).<\/p>\n<p><strong>Forward-Looking Statements<\/strong><\/p>\n<p>Certain statements in this press release and the accompanying Supplemental Operating and Financial Data are based on our current expectations and assumptions, and are &#8220;forward-looking statements&#8221; within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.&nbsp; These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to be materially different from the results of operations, financial conditions, or plans expressed or implied by the forward-looking statements.&nbsp; Although we believe the expectations reflected in our forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be achieved.&nbsp; Such risks, uncertainties, and other factors that might cause such differences include, but are not limited to those risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission, including the &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and &#8220;Risk Factors&#8221; contained in our Annual Report on Form 10-K for the year ended&nbsp;<span class=\"xn-chron\">December 31, 2019<\/span>, in our subsequent quarterly reports on Form&nbsp;10-Q, including the COVID-19 risk factors set forth in our Quarterly Report on Form&nbsp;10-Q for the quarter ended&nbsp;<span class=\"xn-chron\">March 31, 2020<\/span>, and in other public reports. We assume no obligation to update or supplement forward-looking statements that become untrue due to subsequent events.<\/p>\n<p><strong>Investor Relations Contact Information<\/strong><\/p>\n<p><span class=\"xn-person\">Emily Miller<\/span><br class=\"dnr\" \/>Investor Relations<br class=\"dnr\" \/>Phone: 701-837-7104<br class=\"dnr\" \/>E-mail:&nbsp;IR@iret.com<\/p>\n<p class=\"tags\">\n<div><strong>See Campaign: <\/strong><a href=\"http:\/\/www.iretapartments.com\" target=\"_blank\">http:\/\/www.iretapartments.com<\/a><br \/><b>Contact Information:<\/b><br \/>Emily Miller<br \/>\nInvestor Relations<br \/>\nPhone: 701-837-7104<br \/>\nE-mail:IR@iret.com<\/p>\n<p><b>Tags:<\/b><br \/><a href=\"\"><\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/news-category\/wire-real-estate\/\" rel=\"category tag\">Wire Real Estate<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/news-category\/wire\/\" rel=\"category tag\">Wire<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/global-regions\/united-states\/\" rel=\"category tag\">United States<\/a>, <a href=\"https:\/\/icrowdnewswire.com\/category\/language\/english\/\" rel=\"category tag\">English<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"\" alt=\"image\" width=\"400\" height=\"300\" class=\"cwdfimg\" \/><\/div>\n<div>\n<h3>Contact Information:<\/h3>\n<p>Emily Miller<br \/>\nInvestor Relations<br \/>\nPhone: 701-837-7104<br \/>\nE-mail:\u00a0IR@iret.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp;IRET&nbsp;announced today its financial and operating results for the quarter ended&nbsp;March 31, 2020.&nbsp; The tables below show Net Income (Loss), Funds from Operations (&ldquo;FFO&rdquo;), and Core FFO, all on a per share basis, for the three months ended March&nbsp;31, 2020; Same-Store Revenues, Expenses, and Net Operating Income (&ldquo;NOI&rdquo;) over comparable periods; and Same-Store Weighted-Average Occupancy &hellip; <a href=\"https:\/\/icrowdnewswire.com\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/\">Continue reading <span>IRET Reports First Quarter 2020 Financial and Operating Results<\/span><\/a> <a href=\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,22,54,18],"tags":[],"class_list":["post-11498","post","type-post","status-publish","format-standard","hentry","category-english","category-united-states","category-wire","category-wire-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IRET Reports First Quarter 2020 Financial and Operating Results - Business<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IRET Reports First Quarter 2020 Financial and Operating Results - Business\" \/>\n<meta property=\"og:description\" content=\"&nbsp;IRET&nbsp;announced today its financial and operating results for the quarter ended&nbsp;March 31, 2020.&nbsp; The tables below show Net Income (Loss), Funds from Operations (&ldquo;FFO&rdquo;), and Core FFO, all on a per share basis, for the three months ended March&nbsp;31, 2020; Same-Store Revenues, Expenses, and Net Operating Income (&ldquo;NOI&rdquo;) over comparable periods; and Same-Store Weighted-Average Occupancy &hellip; Continue reading IRET Reports First Quarter 2020 Financial and Operating Results Continue Reading &rarr;\" \/>\n<meta property=\"og:url\" content=\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Business\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-13T10:15:00+00:00\" \/>\n<meta name=\"author\" content=\"Asiya\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Asiya\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/\",\"url\":\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/\",\"name\":\"IRET Reports First Quarter 2020 Financial and Operating Results - Business\",\"isPartOf\":{\"@id\":\"https:\/\/ipsnews.net\/business\/#website\"},\"datePublished\":\"2020-05-13T10:15:00+00:00\",\"author\":{\"@id\":\"https:\/\/ipsnews.net\/business\/#\/schema\/person\/3a37b5ed16b9ebaf70290330c45a2e37\"},\"breadcrumb\":{\"@id\":\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ipsnews.net\/business\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"IRET Reports First Quarter 2020 Financial and Operating Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ipsnews.net\/business\/#website\",\"url\":\"https:\/\/ipsnews.net\/business\/\",\"name\":\"Business\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ipsnews.net\/business\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/ipsnews.net\/business\/#\/schema\/person\/3a37b5ed16b9ebaf70290330c45a2e37\",\"name\":\"Asiya\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ipsnews.net\/business\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d4d7dcc41e3f5a5cad4cf78eca935d2f4c65cc9a91e376789d357e29806bcb91?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d4d7dcc41e3f5a5cad4cf78eca935d2f4c65cc9a91e376789d357e29806bcb91?s=96&d=mm&r=g\",\"caption\":\"Asiya\"},\"sameAs\":[\"https:\/\/icrowdnewswire.com\/fc\"],\"url\":\"http:\/\/ipsnews.net\/business\/author\/asiya\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"IRET Reports First Quarter 2020 Financial and Operating Results - Business","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/","og_locale":"en_US","og_type":"article","og_title":"IRET Reports First Quarter 2020 Financial and Operating Results - Business","og_description":"&nbsp;IRET&nbsp;announced today its financial and operating results for the quarter ended&nbsp;March 31, 2020.&nbsp; The tables below show Net Income (Loss), Funds from Operations (&ldquo;FFO&rdquo;), and Core FFO, all on a per share basis, for the three months ended March&nbsp;31, 2020; Same-Store Revenues, Expenses, and Net Operating Income (&ldquo;NOI&rdquo;) over comparable periods; and Same-Store Weighted-Average Occupancy &hellip; Continue reading IRET Reports First Quarter 2020 Financial and Operating Results Continue Reading &rarr;","og_url":"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/","og_site_name":"Business","article_published_time":"2020-05-13T10:15:00+00:00","author":"Asiya","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Asiya","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/","url":"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/","name":"IRET Reports First Quarter 2020 Financial and Operating Results - Business","isPartOf":{"@id":"https:\/\/ipsnews.net\/business\/#website"},"datePublished":"2020-05-13T10:15:00+00:00","author":{"@id":"https:\/\/ipsnews.net\/business\/#\/schema\/person\/3a37b5ed16b9ebaf70290330c45a2e37"},"breadcrumb":{"@id":"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/"]}]},{"@type":"BreadcrumbList","@id":"http:\/\/ipsnews.net\/business\/2020\/05\/13\/iret-reports-first-quarter-2020-financial-and-operating-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ipsnews.net\/business\/"},{"@type":"ListItem","position":2,"name":"IRET Reports First Quarter 2020 Financial and Operating Results"}]},{"@type":"WebSite","@id":"https:\/\/ipsnews.net\/business\/#website","url":"https:\/\/ipsnews.net\/business\/","name":"Business","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ipsnews.net\/business\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ipsnews.net\/business\/#\/schema\/person\/3a37b5ed16b9ebaf70290330c45a2e37","name":"Asiya","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ipsnews.net\/business\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d4d7dcc41e3f5a5cad4cf78eca935d2f4c65cc9a91e376789d357e29806bcb91?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d4d7dcc41e3f5a5cad4cf78eca935d2f4c65cc9a91e376789d357e29806bcb91?s=96&d=mm&r=g","caption":"Asiya"},"sameAs":["https:\/\/icrowdnewswire.com\/fc"],"url":"http:\/\/ipsnews.net\/business\/author\/asiya\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/posts\/11498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/comments?post=11498"}],"version-history":[{"count":0,"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/posts\/11498\/revisions"}],"wp:attachment":[{"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/media?parent=11498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/categories?post=11498"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ipsnews.net\/business\/wp-json\/wp\/v2\/tags?post=11498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}