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EARNINGS PER SHARE (Tables) | 9 Months Ended
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Jan. 31, 2016
EARNINGS PER SHARE [Abstract] |
Reconciliation of Numerator and Denominator Used to Calculate Basic and Diluted Earnings Per Share | The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the condensed consolidated financial statements for the three and nine months ended January 31, 2016 and 2015:
|  | (in thousands, except per share data) |
|  | Three Months Ended January 31 |  |  | Nine Months Ended January 31 |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
NUMERATOR |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations – Investors Real Estate Trust |  | $ | 8,028 |  |  | $ | 7,334 |  |  | $ | 15,938 |  |  | $ | 12,195 |
Income from discontinued operations – Investors Real Estate Trust |  |  | 31,769 |  |  |  | 1,037 |  |  |  | 45,065 |  |  |  | 1,139 |
Net income attributable to Investors Real Estate Trust |  |  | 39,797 |  |  |  | 8,371 |  |  |  | 61,003 |  |  |  | 13,334 |
Dividends to preferred shareholders |  |  | (2,879 | ) |  |  | (2,879 | ) |  |  | (8,636 | ) |  |  | (8,636 | )
Numerator for basic earnings per share – net income available to common shareholders |  |  | 36,918 |  |  |  | 5,492 |  |  |  | 52,367 |  |  |  | 4,698 |
Noncontrolling interests – Operating Partnership |  |  | 4,227 |  |  |  | 657 |  |  |  | 5,940 |  |  |  | 618 |
Numerator for diluted earnings per share |  | $ | 41,145 |  |  | $ | 6,149 |  |  | $ | 58,307 |  |  | $ | 5,316 |
DENOMINATOR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share weighted average shares |  |  | 121,864 |  |  |  | 120,855 |  |  |  | 123,793 |  |  |  | 116,303 |
Effect of convertible operating partnership units |  |  | 13,877 |  |  |  | 14,461 |  |  |  | 13,913 |  |  |  | 17,334 |
Denominator for diluted earnings per share |  |  | 135,741 |  |  |  | 135,316 |  |  |  | 137,706 |  |  |  | 133,637 |
Earnings per common share from continuing operations – Investors Real Estate Trust – basic and diluted |  | $ | .04 |  |  | $ | .04 |  |  | $ | .06 |  |  | $ | .03 |
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted |  |  | .26 |  |  |  | .01 |  |  |  | .36 |  |  |  | .01 |
NET INCOME PER COMMON SHARE – BASIC & DILUTED |  | $ | .30 |  |  | $ | .05 |  |  | $ | .42 |  |  | $ | .04 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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