EARNINGS PER SHARE (Tables)

6 Months Ended

Oct. 31, 2016

EARNINGS PER SHARE [Abstract]

Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted Earnings per Share

	(in thousands, except per share data)
	Three Months Ended				Six Months Ended
	October 31,				October 31,
	2016		2015		2016		2015
NUMERATOR
Income (loss) from continuing operations – Investors Real Estate Trust	$	2,426	$	1,474	$	(22,488)	$	5,341
Income from discontinued operations – Investors Real Estate Trust		9,174		15,192		12,445		15,865
Net income (loss) attributable to Investors Real Estate Trust		11,600		16,666		(10,043)		21,206
Dividends to preferred shareholders		(2,878)		(2,878)		(5,757)		(5,757)
Numerator for basic earnings per share – net income (loss) available to common shareholders		8,722		13,788		(15,800)		15,449
Noncontrolling interests – Operating Partnership		1,174		1,527		(2,122)		1,713
Numerator for diluted earnings (loss) per share	$	9,896	$	15,315	$	(17,922)	$	17,162
DENOMINATOR
Denominator for basic earnings per share weighted average shares		121,154		124,665		121,135		124,757
Effect of convertible operating partnership units		16,264		13,900		16,276		13,929
Denominator for diluted earnings per share		137,418		138,565		137,411		138,686
(Loss) earnings per common share from continuing operations – Investors Real Estate Trust – basic and diluted	$	—	$	(.01)	$	(.23)	$	—
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted		.07		.12		.10		.12
NET INCOME (LOSS) PER COMMON SHARE – BASIC & DILUTED	$	.07	$	.11	$	(.13)	$	.12