CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Jul. 31, 2012	Jul. 31, 2011
REVENUE
Real estate rentals	$ 51,755	$ 48,826
Tenant reimbursement	10,655	10,731
TOTAL REVENUE	62,410	59,557
EXPENSES
Depreciation/amortization related to real estate investments	15,453	14,139
Utilities	4,231	3,985
Maintenance	7,422	6,821
Real estate taxes	8,387	7,799
Insurance	921	876
Property management expenses	4,107	5,378
Administrative expenses	1,960	1,952
Advisory and trustee services	136	229
Other expenses	519	315
Amortization related to non-real estate investments	833	734
TOTAL EXPENSES	43,969	42,228
Interest expense	(16,517)	(15,881)
Interest income	18	53
Other income	124	100
Income from continuing operations	2,066	1,601
Loss from discontinued operations	(70)	(28)
NET INCOME	1,996	1,573
Net income attributable to noncontrolling interests - Operating Partnership	(251)	(178)
Net (income) loss attributable to noncontrolling interests - consolidated real estate entities	(66)	26
Net income attributable to Investors Real Estate Trust	1,679	1,421
Dividends to preferred shareholders	(593)	(593)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 1,086	$ 828
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted	0.01	0.01
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted	0.00	0.00
NET INCOME PER COMMON SHARE - BASIC AND DILUTED	0.01	0.01
DIVIDENDS PER COMMON SHARE	0.1300	0.1715