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EARNINGS PER SHARE (Tables)
 12 Months Ended
Apr. 30, 2015
EARNINGS PER SHARE [Abstract]  
Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted Earnings per Share
The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the fiscal years ended April 30, 2015, 2014 and 2013:
 
  
For Years Ended April 30,
 
  
(in thousands, except per share data)
 
  
2015
  
2014
  
2013
 
NUMERATOR
      
Income (loss) from continuing operations – Investors Real Estate Trust
 
$
24,087
  
$
(18,508
)
 
$
17,929
 
Income from discontinued operations – Investors Real Estate Trust
  
0
   
5,334
   
7,601
 
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
)
Numerator for basic earnings per share – net income (loss) available to common shareholders
  
12,573
   
(24,688
)
  
16,301
 
Noncontrolling interests – Operating Partnership
  
1,526
   
(4,676
)
  
3,633
 
Numerator for diluted earnings per share
 
$
14,099
  
$
(29,364
)
 
$
19,934
 
DENOMINATOR
            
Denominator for basic earnings per share weighted average shares
  
118,004
   
105,331
   
93,344
 
Effect of convertible operating partnership units
  
16,594
   
21,697
   
21,191
 
Denominator for diluted earnings per share
  
134,598
   
127,028
   
114,535
 
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted
 
$
.11
  
$
(.28
)
 
$
.09
 
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted
  
.00
   
.05
   
.08
 
NET INCOME (LOSS) PER COMMON SHARE – BASIC & DILUTED
 
$
.11
  
$
(.23
)
 
$
.17