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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Apr. 30, 2011
Apr. 30, 2010
Apr. 30, 2009
REVENUE      
Real estate rentals $ 192,178 $ 186,321 $ 183,153
Tenant reimbursement 45,007 44,994 45,167
TOTAL REVENUE 237,185 231,315 228,320
EXPENSES      
Depreciation/amortization related to real estate investments 55,809 55,054 52,335
Utilities 18,238 17,101 18,112
Maintenance 29,240 26,972 26,431
Real estate taxes 30,852 30,210 29,077
Insurance 2,304 3,615 2,864
Property management expenses 21,276 18,380 16,716
Administrative expenses 6,617 5,716 4,430
Advisory and trustee services 605 502 452
Other expenses 1,774 2,513 1,440
Amortization related to non-real estate investments 2,679 2,362 2,060
Impairment of real estate investments 0 708 0
TOTAL EXPENSES 169,394 163,133 153,917
Gain on involuntary conversion 0 1,660 0
Interest expense (63,941) (65,581) (64,928)
Interest income 259 539 599
Other income 282 355 314
Income from continuing operations 4,391 5,155 10,388
Income (loss) from discontinued operations 19,960 (570) 325
NET INCOME 24,351 4,585 10,713
Net income attributable to noncontrolling interests - Operating Partnership (4,449) (562) (2,227)
Net loss (income) attributable to noncontrolling interests - consolidated real estate entities 180 (22) 40
Net income attributable to Investors Real Estate Trust 20,082 4,001 8,526
Dividends to preferred shareholders (2,372) (2,372) (2,372)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 17,710 $ 1,629 $ 6,154
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted $ 0.0200 $ 0.0400 $ 0.1000
Earnings (loss) per common share from discontinued operations - Investors Real Estate Trust - basic and diluted $ 0.2000 $ (0.0100) $ 0.0100
NET INCOME PER COMMON SHARE - BASIC & DILUTED $ 0.2200 $ 0.0300 $ 0.1100
DIVIDENDS PER COMMON SHARE $ 0.6860 $ 0.6845 $ 0.6770