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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Apr. 30, 2015
Apr. 30, 2014
Apr. 30, 2013
REVENUE      
Real estate rentals $ 181,261 $ 165,465 $ 151,083
Tenant reimbursement 19,734 19,914 18,650
TRS senior housing revenue 3,520 1,627 0
TOTAL REVENUE 204,515 187,006 169,733
EXPENSES      
Depreciation/amortization related to real estate investments 50,886 49,153 41,602
Utilities 13,388 13,605 11,363
Maintenance 20,063 19,435 17,062
Real estate taxes 20,039 19,035 18,223
Insurance 4,760 4,090 2,801
Property management expenses 14,707 13,526 11,713
Other property expenses 876 114 1,008
TRS senior housing expenses 2,997 1,331 0
Administrative expenses 11,824 10,743 8,494
Other expenses 2,010 2,129 2,171
Amortization related to non-real estate investments 889 916 828
Impairment of real estate investments 4,663 7,700 0
TOTAL EXPENSES 147,102 141,777 115,265
Gain on involuntary conversion 0 2,480 5,084
Operating income 57,413 47,709 59,552
Interest expense (40,071) (39,619) (40,441)
Interest income 2,238 1,906 220
Other income 718 242 512
Income (loss) before gain (loss) on sale of real estate and other investments and income from discontinued operations 20,298 10,238 19,843
Gain (loss) on sale of real estate and other investments 6,093 (51) 0
Income (loss) from continuing operations 26,391 10,187 19,843
Income from discontinued operations 2,293 (27,127) 10,129
NET INCOME (LOSS) 28,684 (16,940) 29,972
Net (income) loss attributable to noncontrolling interests - Operating Partnership (1,526) 4,676 (3,633)
Net income attributable to noncontrolling interests - consolidated real estate entities (3,071) (910) (809)
Net income (loss) attributable to Investors Real Estate Trust 24,087 (13,174) 25,530
Dividends to preferred shareholders (11,514) (11,514) (9,229)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ 12,573 $ (24,688) $ 16,301
Earnings (loss) per common share from continuing operations - Investors Real Estate Trust - basic and diluted $ 0.09 $ (0.01) $ 0.08
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share) 0.02 (0.22) 0.09
NET INCOME (LOSS) PER COMMON SHARE - BASIC & DILUTED $ 0.11 $ (0.23) $ 0.17