CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2016	Jan. 31, 2015	Jan. 31, 2016	Jan. 31, 2015
REVENUE
Real estate rentals	$ 50,277	$ 46,753	$ 142,526	$ 135,621
Tenant reimbursement	4,492	5,223	13,466	15,122
TRS senior housing revenue	1,003	963	3,006	2,599
TOTAL REVENUE	55,772	52,939	158,998	153,342
EXPENSES
Depreciation/amortization related to real estate investments	14,789	12,627	42,522	37,700
Utilities	3,427	3,564	9,757	9,533
Maintenance	5,821	5,033	16,979	15,081
Real estate taxes	5,029	5,284	14,948	15,052
Insurance	1,214	1,215	3,558	3,745
Property management expenses	4,676	3,825	13,182	10,970
Other property expenses	169	197	344	753
TRS senior housing expenses	912	825	2,493	2,243
Administrative expenses	2,929	2,754	8,316	9,308
Other expenses	86	488	1,714	1,678
Amortization related to non-real estate investments	130	210	470	647
Impairment of real estate investments	162	540	3,320	4,663
TOTAL EXPENSES	39,344	36,562	117,603	111,373
Operating income	16,428	16,377	41,395	41,969
Interest expense	(10,540)	(10,009)	(29,867)	(29,710)
Loss on extinguishment of debt	0	0	(106)	0
Interest income	566	561	1,687	1,681
Other income	135	109	286	371
Income before gain (loss) on sale of real estate and other investments and income from discontinued operations	6,589	7,038	13,395	14,311
Gain (loss) on sale of real estate and other investments	1,446	951	1,271	(811)
Income from continuing operations	8,035	7,989	14,666	13,500
Income from discontinued operations	35,408	1,162	50,181	1,322
NET INCOME	43,443	9,151	64,847	14,822
Net income attributable to noncontrolling interests - Operating Partnership	(4,227)	(657)	(5,940)	(618)
Net loss (income) attributable to noncontrolling interests - consolidated real estate entities	581	(123)	2,096	(870)
Net income attributable to Investors Real Estate Trust	39,797	8,371	61,003	13,334
Dividends to preferred shareholders	(2,879)	(2,879)	(8,636)	(8,636)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$ 36,918	$ 5,492	$ 52,367	$ 4,698
Earnings per common share from continuing operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	$ 0.04	$ 0.04	$ 0.06	$ 0.03
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	0.26	0.01	0.36	0.01
NET INCOME PER COMMON SHARE - BASIC & DILUTED (in dollars per share)	0.30	0.05	0.42	0.04
DIVIDENDS PER COMMON SHARE (in dollars per share)	$ 0.13	$ 0.13	$ 0.39	$ 0.39