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

6 Months Ended

Apr. 30, 2014

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

Operating Results of Held for Sale Property Remaining in Continuing Operations [Table Text Block]

The operating results of the Springfield property which are included in the continuing operations were as follows (amounts in thousands):

	Six Months Ended						Three Months Ended
	April 30,						April 30,
	2014			2013			2014			2013
Revenues	$	2,106		$	2,203		$	1,121		$	1,031
Property operating expense		(1,070	)		(1,019	)		(652	)		(496	)
Depreciation and amortization		(341	)		(326	)		(163	)		(163	)
Net Income	$	695		$	858		$	306		$	372

Operating results for discontinued operations

The combined operating results for the 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):

	Six Months Ended					Three Months Ended
	April 30,					April 30,
	2014		2013			2014		2013
Revenues	$	141	$	798		$	-	$	399
Property operating expense		-		-			-		-
Depreciation and amortization		-		(33	)		-		(17	)
Income from discontinued operations	$	141	$	765		$	-	$	382

Cash flows from discontinued operations for the six and three month periods ended April 30, 2014 and 2013 are combined with the cash flows from operations within each of the three categories presented.  Cash flows from discontinued operations are as follows (amounts in thousands):

	Six Months Ended					Three Months Ended
	April 30,					April 30,
	2014			2013		2014		2013
Cash flows from operating activities	$	(12,471	)	$	798	$	-	$	399
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):

	Six Months Ended						Three Months Ended
	April 30,						April 30,
	2014			2013			2014			2013
Numerator
Net income applicable to common stockholders – basic	$	4,297		$	540		$	664		$	701
Effect of dilutive securities:
Restricted stock awards		241			38			43			55
Net income applicable to common stockholders – diluted	$	4,538		$	578		$	707		$	756
Denominator
Denominator for basic EPS – weighted average common shares		7,799			7,544			7,800			7,545
Effect of dilutive securities:
Restricted stock awards		644			773			742			866
Denominator for diluted EPS – weighted average common equivalent shares		8,443			8,317			8,542			8,411
Numerator
Net income applicable to Class A common stockholders-basic	$	14,349		$	1,840		$	2,217		$	2,385
Effect of dilutive securities:
Restricted stock awards		(241	)		(38	)		(43	)		(55	)
Net income applicable to Class A common stockholders – diluted	$	14,108		$	1,802		$	2,174		$	2,330
Denominator
Denominator for basic EPS – weighted average Class A common shares		23,208			23,120			23,206			23,121
Effect of dilutive securities:
Restricted stock awards		184			208			221			246
Denominator for diluted EPS – weighted average Class A common equivalent shares		23,392			23,328			23,427			23,367