EARNINGS PER SHARE (Tables)

12 Months Ended

Apr. 30, 2017

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, 2017, 2016 and 2015:

	For Year Ended April 30,
	(in thousands, except per share data)
	2017		2016		2015
NUMERATOR
(Loss) income from continuing operations – Investors Real Estate Trust	$	(17,340)	$	18,651	$	14,083
Income from discontinued operations – Investors Real Estate Trust		60,687		53,355		10,004
Net income attributable to Investors Real Estate Trust		43,347		72,006		24,087
Dividends to preferred shareholders		(10,546)		(11,514)		(11,514)
Redemption of preferred shares		(1,435)		—		—
Numerator for basic earnings per share – net income available to common shareholders		31,366		60,492		12,573
Noncontrolling interests – Operating Partnership		4,059		7,032		1,526
Numerator for diluted earnings per share	$	35,425	$	67,524	$	14,099
DENOMINATOR
Denominator for basic earnings per share weighted average shares		121,169		123,094		118,004
Effect of redeemable operating partnership units		16,130		14,278		16,594
Denominator for diluted earnings per share		137,299		137,372		134,598
(Loss) earnings per common share from continuing operations – Investors Real Estate Trust – basic and diluted	$	(0.24)	$	0.06	$	0.02
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted		0.50		0.43		0.09
NET INCOME PER COMMON SHARE – BASIC & DILUTED	$	0.26	$	0.49	$	0.11