CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
REVENUE
Real estate rentals	$ 45,859	$ 41,868	$ 90,844	$ 82,618
Tenant reimbursement	4,750	4,478	9,376	8,773
TOTAL REVENUE	50,609	46,346	100,220	91,391
EXPENSES
Property operating expenses, excluding real estate taxes	15,814	15,052	31,871	28,540
Real estate taxes	5,759	4,899	11,336	9,715
Depreciation and amortization	13,531	12,405	27,798	23,622
Impairment of real estate investments		1,873	54,153	3,158
General and administrative expenses	2,702	2,933	5,308	5,387
Acquisition and investment related costs	4	391	47	398
Other expenses	816	813	1,668	1,230
TOTAL EXPENSES	38,626	38,366	132,181	72,050
Operating (loss) income	11,983	7,980	(31,961)	19,341
Interest expense	(10,626)	(8,741)	(20,990)	(16,555)
Loss on extinguishment of debt		(106)		(106)
Interest income	600	565	1,172	1,121
Other income	37	100	510	151
Income (loss) before (loss) gain on sale of real estate and other investments, and income from discontinued operations	1,994	(202)	(51,269)	3,952
(Loss) gain on sale of real estate and other investments	(103)		8,855	(175)
Income (loss) from continuing operations	1,891	(202)	(42,414)	3,777
Income from discontinued operations	10,399	16,879	14,110	17,627
NET INCOME (LOSS)	12,290	16,677	(28,304)	21,404
Net (income) loss attributable to noncontrolling interests – Operating Partnership	(1,174)	(1,527)	2,122	(1,713)
Net loss attributable to noncontrolling interests – consolidated real estate entities	484	1,516	16,139	1,515
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)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 8,722	$ 13,788	$ (15,800)	$ 15,449
(Loss) earnings per common share from continuing operations – Investors Real Estate Trust – basic and diluted		$ (0.01)	$ (0.23)
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted	$ 0.07	0.12	0.10	$ 0.12
NET INCOME (LOSS) PER COMMON SHARE – BASIC & DILUTED	0.07	0.11	(0.13)	0.12
DIVIDENDS PER COMMON SHARE	$ 0.13	$ 0.13	$ 0.26	$ 0.26