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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Jan. 31, 2013
Jan. 31, 2012
Jan. 31, 2013
Jan. 31, 2012
REVENUE        
Real estate rentals $ 54,307 $ 49,859 $ 159,026 $ 147,663
Tenant reimbursement 11,924 10,687 34,134 32,247
TOTAL REVENUE 66,231 60,546 193,160 179,910
EXPENSES        
Depreciation/amortization related to real estate investments 15,506 14,280 46,602 42,470
Utilities 4,759 4,457 13,816 13,249
Maintenance 7,692 6,338 21,545 19,991
Real estate taxes 8,730 7,993 25,358 23,374
Insurance 1,070 876 2,932 2,514
Property management expenses 4,124 4,926 12,369 15,631
Administrative expenses 2,092 1,493 5,970 5,356
Advisory and trustee services 153 166 432 588
Other expenses 464 359 1,496 1,509
Amortization related to non-real estate investments 794 903 2,426 2,395
TOTAL EXPENSES 45,384 41,791 132,946 127,077
Gain on involuntary conversion 0 0 2,263 0
Operating income 20,847 18,755 62,477 52,833
Interest expense (15,725) (16,411) (48,448) (48,389)
Interest income 70 25 176 115
Other income 185 254 424 530
Income from continuing operations 5,377 2,623 14,629 5,089
Income (loss) from discontinued operations 776 (102) 3,530 496
NET INCOME 6,153 2,521 18,159 5,585
Net income attributable to noncontrolling interests - Operating Partnership (556) (351) (2,097) (723)
Net income attributable to noncontrolling interests - consolidated real estate entities (273) (43) (547) (29)
Net income attributable to Investors Real Estate Trust 5,324 2,127 15,515 4,833
Dividends to preferred shareholders (2,879) (593) (6,350) (1,779)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 2,445 $ 1,534 $ 9,165 $ 3,054
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted $ 0.02 $ 0.02 $ 0.07 $ 0.03
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted $ 0.01 $ 0.00 $ 0.03 $ 0.01
NET INCOME PER COMMON SHARE - BASIC AND DILUTED $ 0.03 $ 0.02 $ 0.10 $ 0.04
DIVIDENDS PER COMMON SHARE $ 0.1300 $ 0.1300 $ 0.3900 $ 0.4315