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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Apr. 30, 2020
Apr. 30, 2019
Apr. 30, 2020
Apr. 30, 2019
Revenue:        
Rental income $ 12,094 $ 13,325 $ 25,457 $ 26,486
Reimbursements 1,506 1,337 3,422 2,995
Sundry income 88 124 402 233
Total revenue 13,688 14,786 29,281 29,714
Expenses:        
Property operating expenses 4,312 3,985 8,327 7,852
Special committee expenses 1,137 586 4,519 586
Management fees 508 648 1,223 1,285
Real estate taxes 2,115 2,371 4,522 4,801
Depreciation 2,530 2,783 5,462 5,607
Total expenses 10,602 10,373 24,053 20,131
Operating income 3,086 4,413 5,228 9,583
Investment income 64 113 136 184
Unrealized loss on interest rate cap contract (5) (159)
Gain on sale of property 836 836
Gain on deconsolidation of subsidiary 27,680 27,680
Loss on investment in tenancy-in-common (18) (18)
Interest expense including amortization of deferred financing costs (3,676) (4,527) (7,911) (9,179)
Net income 27,136 830 25,115 1,265
Net (income) loss attributable to noncontrolling interests in subsidiaries 84 (44) (157) (20)
Net income attributable to common equity $ 27,220 $ 786 $ 24,958 $ 1,245
Earnings per share:        
Basic $ 3.89 $ 0.11 $ 3.57 $ 0.18
Diluted $ 3.88 $ 0.11 $ 3.56 $ 0.18
Weighted average shares outstanding:        
Basic 6,989 6,932 6,984 6,923
Diluted 7,026 6,932 7,003 6,923