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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Jan. 31, 2012
Jan. 31, 2011
Jan. 31, 2012
Jan. 31, 2011
REVENUE        
Real estate rentals $ 50,318 $ 47,792 $ 148,981 $ 143,333
Tenant reimbursement 10,705 12,354 32,301 34,785
TOTAL REVENUE 61,023 60,146 181,282 178,118
EXPENSES        
Depreciation/amortization related to real estate investments 14,359 13,892 42,710 41,573
Utilities 4,526 4,775 13,424 13,184
Maintenance 6,395 8,358 20,185 22,001
Real estate taxes 8,049 7,780 23,528 23,068
Insurance 890 646 2,552 1,866
Property management expenses 4,989 5,474 15,836 15,525
Administrative expenses 1,493 1,716 5,356 5,055
Advisory and trustee services 166 134 588 482
Other expenses 359 441 1,509 1,357
Amortization related to non-real estate investments 903 689 2,395 1,978
Impairment of real estate investments 135 0 135 0
TOTAL EXPENSES 42,264 43,905 128,218 126,089
Interest expense (16,533) (15,868) (48,756) (48,335)
Interest income 25 75 115 194
Other income 270 32 546 217
Income from continuing operations 2,521 480 4,969 4,105
Income from discontinued operations 0 14,108 616 19,936
NET INCOME 2,521 14,588 5,585 24,041
Net income attributable to noncontrolling interests - Operating Partnership (351) (2,793) (723) (4,485)
Net (income) loss attributable to noncontrolling interests - consolidated real estate entities (43) 38 (29) 82
Net income attributable to Investors Real Estate Trust 2,127 11,833 4,833 19,638
Dividends to preferred shareholders (593) (593) (1,779) (1,779)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 1,534 $ 11,240 $ 3,054 $ 17,859
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted $ 0.02 $ 0.00 $ 0.03 $ 0.03
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted $ 0.00 $ 0.14 $ 0.01 $ 0.20
NET INCOME PER COMMON SHARE - BASIC AND DILUTED $ 0.02 $ 0.14 $ 0.04 $ 0.23
DIVIDENDS PER COMMON SHARE $ 0.1300 $ 0.1715 $ 0.4315 $ 0.5145