EARNINGS PER SHARE (Tables)

6 Months Ended

Oct. 31, 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 condensed consolidated financial statements for the three and six months ended October 31, 2017 and 2016:  

	(in thousands, except per share data)
	Three Months Ended				Six Months Ended
	October 31,				October 31,
	2017		2016		2017		2016
NUMERATOR
Income (loss) from continuing operations – controlling interests	$	1,446	$	2,426	$	(10,317)	$	(22,488)
Income from discontinued operations – controlling interests		11,375		9,174		11,874		12,445
Net income (loss) attributable to controlling interests		12,821		11,600		1,557		(10,043)
Dividends to preferred shareholders		(2,812)		(2,878)		(5,098)		(5,757)
Redemption of preferred shares		(3,649)		—		(3,649)		—
Numerator for basic earnings per share – net income available to common shareholders		6,360		8,722		(7,190)		(15,800)
Noncontrolling interests – Operating Partnership		773		1,174		(871)		(2,122)
Numerator for diluted earnings per share	$	7,133	$	9,896	$	(8,061)	$	(17,922)
DENOMINATOR
Denominator for basic earnings per share weighted average shares		120,144		121,154		120,282		121,135
Effect of redeemable operating partnership units		14,623		16,264		14,912		16,276
Denominator for diluted earnings per share		134,767		137,418		135,194		137,411
Loss per common share from continuing operations – basic and diluted	$	(0.05)	$	—	$	(0.16)	$	(0.23)
Earnings per common share from discontinued operations – basic and diluted		0.10		0.07		0.10		0.10
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED	$	0.05	$	0.07	$	(0.06)	$	(0.13)