Massive multiple-input multiple-output (MIMO) systems have received significant attention in academia and industry for their remarkable advantages regarding spectral and energy efficiency. Employing a pair of low resolution digital-to-analog converters (DAC) at each antenna of the massive MIMO array is a cost and power efficient implementation scheme for such systems. To mitigate the resulting quantization distortion introduced by low-resolution DAC, various quantized precoding algorithms are proposed in the related literature. This study proposes an iterative distortion-aware precoder that can work with oversampling DACs in massive MIMO systems. We show that the precoder we propose outperforms the existing oversampling precoders of comparable computational complexity in the literature by efficiently maximizing the in-band error-rate performance while minimizing out-of-band emissions. We also make the performance analysis of the proposed precoder and quantized ZF for many scenarios including multiple base-stations at the adjacent channel bands and aliasing.