ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Jan. 31, 2014

ORGANIZATION, BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Operating results for discontinued operations

The combined operating results for the two distribution service facilities have been reclassified as discontinued operations in the accompanying consolidated statements of income.  The following table summarizes revenues and expenses for the Company's discontinued operations (amounts in thousands):

	Three Months Ended
	January 31,
	2014		2013
Revenues	$	141	$	399
Property operating expense		-		-
Depreciation and amortization		-		(16	)
Income from discontinued operations	$	141	$	383

Cash flows from discontinued operations for the three months ended January 31, 2014 and 2013 are combined with the cash flows from continuing operations within each of the three categories presented.  Cash flows from discontinued operations are as follows (amounts in thousands):

		Three Months Ended
		January 31,
		2014				2013
Cash flows from operating activities	$		(12,471	)	$		383
Cash flows from investing activities	$		17,401		$		-
Cash flows from financing activities	$		-		$		-

Property, plant and equipment, estimated useful lives

Properties are depreciated using the straight-line method over the estimated useful lives of the assets.  The estimated useful lives are as follows:

Buildings	30-40 years
Property Improvements	10-20 years
Furniture/Fixtures	3-10 years
Tenant Improvements	Shorter of lease term or their useful life

Reconciliation between basic and diluted EPS

The following table sets forth the reconciliation between basic and diluted EPS (in thousands):

	Three Months Ended
	January 31,
	2014			2013
Numerator
Net income (loss) applicable to common stockholders – basic	$	3,633		$	(160	)
Effect of dilutive securities:
Restricted stock awards		174			(10	)
Net income (loss) applicable to common stockholders – diluted	$	3,807		$	(170	)
Denominator
Denominator for basic EPS – weighted average common shares		7,799			7,543
Effect of dilutive securities:
Restricted stock awards		545			-
Denominator for diluted EPS – weighted average common equivalent shares		8,344			7,543
Numerator
Net income (loss) applicable to Class A common stockholders-basic	$	12,132		$	(546	)
Effect of dilutive securities:
Restricted stock awards		(174	)		10
Net income (loss) applicable to Class A common stockholders – diluted	$	11,958		$	(536	)
Denominator
Denominator for basic EPS – weighted average Class A common shares		23,203			23,120
Effect of dilutive securities:
Restricted stock awards		147			-
Denominator for diluted EPS – weighted average Class A common equivalent shares		23,350			23,120