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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jan. 31, 2017
Jan. 31, 2016
Jan. 31, 2017
Jan. 31, 2016
REVENUE        
Real estate rentals $ 46,278 $ 44,015 $ 137,122 $ 126,633
Tenant reimbursement 4,896 4,391 14,272 13,164
TOTAL REVENUE 51,174 48,406 151,394 139,797
EXPENSES        
Property operating expenses, excluding real estate taxes 17,034 15,412 48,905 43,952
Real estate taxes 5,759 4,909 17,095 14,624
Depreciation and amortization 13,475 12,693 41,273 36,315
Impairment of real estate investments   162 54,153 3,320
General and administrative expenses 3,130 2,929 8,438 8,316
Acquisition and investment related costs 5 35 52 433
Other expenses 1,037 51 2,705 1,281
TOTAL EXPENSES 40,440 36,191 172,621 108,241
Operating (loss) income 10,734 12,215 (21,227) 31,556
Interest expense (10,680) (9,151) (31,670) (25,706)
Loss on extinguishment of debt (1,907) 0 (1,907) (106)
Interest income 816 566 1,988 1,687
Other income 158 135 668 286
Income (loss) before (loss) gain on sale of real estate and other investments, and income from discontinued operations (879) 3,765 (52,148) 7,717
(Loss) gain on sale of real estate and other investments 2,437 1,446 11,292 1,271
Income (loss) from continuing operations 1,558 5,211 (40,856) 8,988
Income from discontinued operations 23,631 38,232 37,741 55,859
NET INCOME (LOSS) 25,189 43,443 (3,115) 64,847
Net (income) loss attributable to noncontrolling interests – Operating Partnership (2,525) (4,227) (403) (5,940)
Net loss attributable to noncontrolling interests – consolidated real estate entities 446 581 16,585 2,096
Net income (loss) attributable to Investors Real Estate Trust 23,110 39,797 13,067 61,003
Dividends to preferred shareholders (2,503) (2,879) (8,260) (8,636)
Redemption of preferred shares (1,435)   (1,435)  
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ 19,172 $ 36,918 $ 3,372 $ 52,367
(Loss) earnings per common share from continuing operations – Investors Real Estate Trust – basic and diluted $ (0.01) $ 0.02 $ (0.24) $ 0.02
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted 0.17 0.28 0.27 0.40
NET INCOME (LOSS) PER COMMON SHARE – BASIC & DILUTED 0.16 0.30 0.03 0.42
DIVIDENDS PER COMMON SHARE $ 0.13 $ 0.13 $ 0.39 $ 0.39