CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Oct. 31, 2012	Oct. 31, 2011	Oct. 31, 2012	Oct. 31, 2011
REVENUE
Real estate rentals	$ 53,389	$ 49,371	$ 104,719	$ 97,804
Tenant reimbursement	11,554	10,829	22,210	21,560
TOTAL REVENUE	64,943	60,200	126,929	119,364
EXPENSES
Depreciation/amortization related to real estate investments	15,707	14,116	31,096	28,190
Utilities	4,859	4,848	9,057	8,792
Maintenance	6,511	6,888	13,853	13,653
Real estate taxes	8,281	7,624	16,628	15,381
Insurance	954	773	1,862	1,638
Property management expenses	4,199	5,394	8,245	10,705
Administrative expenses	1,918	1,911	3,878	3,863
Advisory and trustee services	143	193	279	422
Other expenses	513	835	1,032	1,150
Amortization related to non-real estate investments	799	758	1,632	1,492
TOTAL EXPENSES	43,884	43,340	87,562	85,286
Gain on involuntary conversion	2,263	0	2,263	0
Interest expense	(16,300)	(16,193)	(32,723)	(31,978)
Interest income	88	37	106	90
Other income	115	176	239	276
Income from continuing operations	7,225	880	9,252	2,466
Income from discontinued operations	2,785	611	2,754	598
NET INCOME	10,010	1,491	12,006	3,064
Net income attributable to noncontrolling interests - Operating Partnership	(1,290)	(194)	(1,541)	(372)
Net (income) loss attributable to noncontrolling interests - consolidated real estate entities	(208)	(12)	(274)	14
Net income attributable to Investors Real Estate Trust	8,512	1,285	10,191	2,706
Dividends to preferred shareholders	(2,878)	(593)	(3,471)	(1,186)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 5,634	$ 692	$ 6,720	$ 1,520
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	$ 0.04	$ 0.00	$ 0.05	$ 0.01
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	$ 0.02	$ 0.01	$ 0.02	$ 0.01
NET INCOME PER COMMON SHARE - BASIC AND DILUTED (in dollars per share)	$ 0.06	$ 0.01	$ 0.07	$ 0.02
DIVIDENDS PER COMMON SHARE (in dollars per share)	$ 0.1300	$ 0.1300	$ 0.2600	$ 0.3015