EX-99.1 3 iretexhibit991-121020102.htm ITEM 6. SELECTED FINANCIAL DATA
EXHIBIT 99.1
Item 6. Selected Financial Data
Set forth below is selected financial data on a historical basis for the Company for the five most recent fiscal years ended April 30. This information should be read in conjunction with the consolidated financial statements and notes appearing elsewhere in this Annual Report on Form 10-K.
 
  
(in thousands, except per share data)
  
 
  
2012
    
2011
    
2010
    
2009
    
2008
  
Consolidated Income Statement Data
  
   
   
   
   
 
Revenue
  
$
240,098
    
$
235,345
    
$
229,338
    
$
225,897
    
$
207,275
  
Gain on sale of real estate, land, and other investments
  
$
349
    
$
19,365
    
$
68
    
$
54
    
$
556
  
Income from continuing operations
  
$
9,753
    
$
4,475
    
$
5,996
    
$
9,858
    
$
13,945
  
(Loss) income from discontinued operations
  
$
(47
)
  
$
19,876
    
$
(1,411
)
  
$
855
    
$
1,684
  
Net income
  
$
9,706
    
$
24,351
    
$
4,585
    
$
10,713
    
$
15,629
  
Net income attributable to noncontrolling interests – Operating Partnership
  
$
(1,359
)
  
$
(4,449
)
  
$
(562
)
  
$
(2,227
)
  
$
(3,677
)
Net income attributable to Investors Real Estate Trust
  
$
8,212
    
$
20,082
    
$
4,001
    
$
8,526
    
$
12,088
  
Consolidated Balance Sheet Data
                                        
Total real estate investments
  
$
1,557,108
    
$
1,458,245
    
$
1,500,889
    
$
1,472,575
    
$
1,456,178
  
Total assets
  
$
1,714,367
    
$
1,615,363
    
$
1,660,930
    
$
1,605,091
    
$
1,618,026
  
Mortgages payable
  
$
1,048,689
    
$
993,803
    
$
1,057,619
    
$
1,070,158
    
$
1,063,858
  
Revolving lines of credit
  
$
39,000
    
$
30,000
    
$
6,550
    
$
5,500
    
$
0
  
Total Investors Real Estate Trust shareholders' equity
  
$
432,989
    
$
411,690
    
$
409,523
    
$
333,009
    
$
344,074
  
 
                                        
Consolidated Per Common Share Data (basic and diluted)
                                        
Income from continuing operations - Investors Real Estate Trust
  
$
.07
    
$
.02
    
$
.04
    
$
.10
    
$
.16
  
Income (loss) from discontinued operations - Investors Real Estate Trust
  
$
.00
    
$
.20
    
$
(.01
)
  
$
.01
    
$
.02
  
Net income
  
$
.07
    
$
.22
    
$
.03
    
$
.11
    
$
.18
  
Distributions
  
$
.56
    
$
.69
    
$
.68
    
$
.68
    
$
.67
  

CALENDAR YEAR
2011
2010
2009
2008
2007
Tax status of distributions
 
 
 
 
 
Capital gain
37.48%
0.00%
0.09%
0.00%
1.49%
Ordinary income
18.04%
28.53%
39.17%
53.43%
51.69%
Return of capital
44.48%
71.47%
60.74%
46.57%
46.82%
For the fiscal year ended April 30, 2012, IRET recognized approximately $1.3 million of net capital gain for federal income tax purposes. IRET designates the entire $1.3 million of net capital gain as capital gain dividends.