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EARNINGS PER SHARE | 12 Months Ended
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Apr. 30, 2011
Notes To Financial Statements [Abstract] |
EARNINGS PER SHARE | NOTE 13 . EARNINGS PER SHARE Basic earnings per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. The Company has no outstanding options, warrants, convertible stock or other contractual obligations requiring issuance of additional common shares that would result in a dilution of earnings. Units can be exchanged for shares on a one-for-one basis after a minimum holding period of one year. The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the fiscal years ended April 30, 2011, 2010 and 2009: 2011 Annual Report F-24 NOTE 13 . continued
|  | For Years Ended April 30, |
|  | (in thousands, except per share data) |
|  | 2011 |  |  | 2010 |  |  | 2009 |
NUMERATOR |  |  |  |  |  |  |  |  |
Income from continuing operations - Investors Real Estate Trust |  | $ | 4,116 |  |  | $ | 4,444 |  |  | $ | 8,284 |
Income (loss) from discontinued operations - Investors Real Estate Trust |  |  | 15,966 |  |  |  | (443 | ) |  |  | 242 |
Net income attributable to Investors Real Estate Trust |  |  | 20,082 |  |  |  | 4,001 |  |  |  | 8,526 |
Dividends to preferred shareholders |  |  | (2,372 | ) |  |  | (2,372 | ) |  |  | (2,372 | )
Numerator for basic earnings per share - net income available to common shareholders |  |  | 17,710 |  |  |  | 1,629 |  |  |  | 6,154 |
Noncontrolling interests - Operating Partnership |  |  | 4,449 |  |  |  | 562 |  |  |  | 2,227 |
Numerator for diluted earnings per share |  | $ | 22,159 |  |  | $ | 2,191 |  |  | $ | 8,381 |
DENOMINATOR |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share weighted average shares |  |  | 78,628 |  |  |  | 69,093 |  |  |  | 58,603 |
Effect of convertible operating partnership units |  |  | 20,154 |  |  |  | 20,825 |  |  |  | 21,217 |
Denominator for diluted earnings per share |  |  | 98,782 |  |  |  | 89,918 |  |  |  | 79,820 |
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted |  | $ | .02 |  |  | $ | .04 |  |  | $ | .10 |
Earnings (loss) per common share from discontinued operations - Investors Real Estate Trust - basic and diluted |  |  | .20 |  |  |  | (.01 | ) |  |  | .01 |
NET INCOME PER COMMON SHARE - BASIC & DILUTED |  | $ | .22 |  |  | $ | .03 |  |  | $ | .11 |

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- Definition This element may be used to capture the complete disclosure pertaining to an entity's earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 + Details
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