XML 34 R19.htm IDEA: XBRL DOCUMENT
v3.8.0.1

EARNINGS PER SHARE | 12 Months Ended
--- | ---
Apr. 30, 2018
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | 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. We have no outstanding options, warrants, convertible stock or other contractual obligations requiring issuance of additional common shares that would result in a dilution of earnings. Pursuant to the exercise of Exchange Rights, Units may be tendered for redemption for cash or, at our option, for common shares on a one-for-one-basis. 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, 2018, 2017 and 2016:
|  | For Year Ended April 30,
|  | (in thousands, except per share data)
|  | 2018 |  | 2017 |  | 2016 |
NUMERATOR |  |  |  |  |  |  |
Income (loss) from continuing operations – Investors Real Estate Trust |  | $ | (30,266 | ) | $ | (24,473 | ) | $ | 11,553 |
Income from discontinued operations – Investors Real Estate Trust |  | 147,054 |  | 67,820 |  | 60,453 |
Net income attributable to Investors Real Estate Trust |  | 116,788 |  | 43,347 |  | 72,006 |
Dividends to preferred shareholders |  | (8,569 | ) | (10,546 | ) | (11,514 | )
Redemption of preferred shares |  | (3,657 | ) | (1,435 | ) | — |
Numerator for basic earnings per share – net income available to common shareholders |  | 104,562 |  | 31,366 |  | 60,492 |
Noncontrolling interests – Operating Partnership |  | 12,702 |  | 4,059 |  | 7,032 |
Numerator for diluted earnings per share |  | $ | 117,264 |  | $ | 35,425 |  | $ | 67,524 |
DENOMINATOR |  |  |  |  |  |  |
Denominator for basic earnings per share weighted average shares |  | 119,977 |  | 121,169 |  | 123,094 |
Effect of redeemable operating partnership units |  | 14,617 |  | 16,130 |  | 14,278 |
Denominator for diluted earnings per share |  | 134,594 |  | 137,299 |  | 137,372 |
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted |  | $ | (0.36 | ) | $ | (0.30 | ) | $ | — |
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted |  | 1.23 |  | 0.56 |  | 0.49 |
NET INCOME PER COMMON SHARE – BASIC & DILUTED |  | $ | 0.87 |  | $ | 0.26 |  | $ | 0.49 |

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration