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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, 2015
Jan. 31, 2014
Jan. 31, 2015
Jan. 31, 2014
REVENUE        
Real estate rentals $ 60,440us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 56,156us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 176,401us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 164,256us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Tenant reimbursement 11,513us-gaap_TenantReimbursements 11,473us-gaap_TenantReimbursements 33,431us-gaap_TenantReimbursements 34,243us-gaap_TenantReimbursements
TRS senior housing revenue 963us-gaap_OtherRealEstateRevenue 804us-gaap_OtherRealEstateRevenue 2,599us-gaap_OtherRealEstateRevenue 804us-gaap_OtherRealEstateRevenue
TOTAL REVENUE 72,916us-gaap_RealEstateRevenueNet 68,433us-gaap_RealEstateRevenueNet 212,431us-gaap_RealEstateRevenueNet 199,303us-gaap_RealEstateRevenueNet
EXPENSES        
Depreciation/amortization related to real estate investments 16,834us-gaap_DepreciationAndAmortization 16,733us-gaap_DepreciationAndAmortization 49,846us-gaap_DepreciationAndAmortization 51,156us-gaap_DepreciationAndAmortization
Utilities 5,367iret_Utilities 5,042iret_Utilities 15,141iret_Utilities 15,173iret_Utilities
Maintenance 7,799us-gaap_CostOfPropertyRepairsAndMaintenance 7,828us-gaap_CostOfPropertyRepairsAndMaintenance 23,391us-gaap_CostOfPropertyRepairsAndMaintenance 22,719us-gaap_CostOfPropertyRepairsAndMaintenance
Real estate taxes 8,816us-gaap_RealEstateTaxExpense 7,679us-gaap_RealEstateTaxExpense 25,583us-gaap_RealEstateTaxExpense 24,415us-gaap_RealEstateTaxExpense
Insurance 1,479us-gaap_RealEstateInsurance 1,190us-gaap_RealEstateInsurance 4,560us-gaap_RealEstateInsurance 3,904us-gaap_RealEstateInsurance
Property management expenses 4,746us-gaap_OwnedPropertyManagementCosts 4,064us-gaap_OwnedPropertyManagementCosts 13,731us-gaap_OwnedPropertyManagementCosts 12,383us-gaap_OwnedPropertyManagementCosts
Other property expenses 227us-gaap_CostOfOtherPropertyOperatingExpense 124us-gaap_CostOfOtherPropertyOperatingExpense 783us-gaap_CostOfOtherPropertyOperatingExpense 304us-gaap_CostOfOtherPropertyOperatingExpense
TRS senior housing expenses 825iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty 671iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty 2,243iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty 671iret_DirectCostsofLeasingandOperatingSeniorLivingRealEstateProperty
General and administrative 3,242us-gaap_GeneralAndAdministrativeExpense 2,935us-gaap_GeneralAndAdministrativeExpense 10,986us-gaap_GeneralAndAdministrativeExpense 9,572us-gaap_GeneralAndAdministrativeExpense
Amortization related to non-real estate investments 916us-gaap_AmortizationOfDeferredLeasingFees 756us-gaap_AmortizationOfDeferredLeasingFees 2,628us-gaap_AmortizationOfDeferredLeasingFees 2,500us-gaap_AmortizationOfDeferredLeasingFees
Impairment of real estate investments 540iret_ImpairmentOfRealEstateContinuingOperations 4,798iret_ImpairmentOfRealEstateContinuingOperations 6,105iret_ImpairmentOfRealEstateContinuingOperations 4,798iret_ImpairmentOfRealEstateContinuingOperations
TOTAL EXPENSES 50,791us-gaap_CostsAndExpenses 51,820us-gaap_CostsAndExpenses 154,997us-gaap_CostsAndExpenses 147,595us-gaap_CostsAndExpenses
Gain on involuntary conversion 0us-gaap_GainOnBusinessInterruptionInsuranceRecovery 1,514us-gaap_GainOnBusinessInterruptionInsuranceRecovery 0us-gaap_GainOnBusinessInterruptionInsuranceRecovery 2,480us-gaap_GainOnBusinessInterruptionInsuranceRecovery
Operating income 22,125us-gaap_OperatingIncomeLoss 18,127us-gaap_OperatingIncomeLoss 57,434us-gaap_OperatingIncomeLoss 54,188us-gaap_OperatingIncomeLoss
Interest expense (14,595)us-gaap_InterestExpense (15,130)us-gaap_InterestExpense (43,858)us-gaap_InterestExpense (44,525)us-gaap_InterestExpense
Interest income 561us-gaap_InvestmentIncomeInterest 573us-gaap_InvestmentIncomeInterest 1,681us-gaap_InvestmentIncomeInterest 1,346us-gaap_InvestmentIncomeInterest
Other income 109us-gaap_OtherNonoperatingIncomeExpense 34us-gaap_OtherNonoperatingIncomeExpense 376us-gaap_OtherNonoperatingIncomeExpense 123us-gaap_OtherNonoperatingIncomeExpense
Income before gain on sale of real estate and other investments 8,200iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations 3,604iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations 15,633iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations 11,132iret_IncomeLossBeforeGainLossOnSaleOfRealEstateAndOtherInvestmentsAndIncomeLossFromDiscontinuedOperations
Gain (loss) on sale of real estate and other investments 951us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes 0us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes (811)us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes 0us-gaap_GainLossOnSaleOfPropertiesBeforeApplicableIncomeTaxes
Income from continuing operations 9,151us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 3,604us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 14,822us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 11,132us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Income from discontinued operations 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 465us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 6,450us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
NET INCOME 9,151us-gaap_ProfitLoss 4,069us-gaap_ProfitLoss 14,822us-gaap_ProfitLoss 17,582us-gaap_ProfitLoss
Net income attributable to noncontrolling interests - Operating Partnership (657)us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable (130)us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable (618)us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable (1,406)us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
Net income attributable to noncontrolling interests - consolidated real estate entities (123)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (436)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (870)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (808)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income attributable to Investors Real Estate Trust 8,371us-gaap_NetIncomeLoss 3,503us-gaap_NetIncomeLoss 13,334us-gaap_NetIncomeLoss 15,368us-gaap_NetIncomeLoss
Dividends to preferred shareholders (2,879)iret_DividendsPreferredStock2 (2,879)iret_DividendsPreferredStock2 (8,636)iret_DividendsPreferredStock2 (8,636)iret_DividendsPreferredStock2
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 5,492us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 624us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 4,698us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 6,732us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted $ 0.05us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ 0us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ 0.04us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ 0.01us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share) $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare $ 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare $ 0.05us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
NET INCOME PER COMMON SHARE - BASIC & DILUTED $ 0.05us-gaap_EarningsPerShareBasicAndDiluted $ 0us-gaap_EarningsPerShareBasicAndDiluted $ 0.04us-gaap_EarningsPerShareBasicAndDiluted $ 0.06us-gaap_EarningsPerShareBasicAndDiluted
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.1300us-gaap_CommonStockDividendsPerShareDeclared $ 0.1300us-gaap_CommonStockDividendsPerShareDeclared $ 0.3900us-gaap_CommonStockDividendsPerShareDeclared $ 0.3900us-gaap_CommonStockDividendsPerShareDeclared