SHAREHOLDERS’ EQUITY	12 Months Ended
Apr. 30, 2018
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY Operating Partnership Units. Outstanding Units in the Operating Partnership were 14.1 million Units at April 30, 2018 and 15.6 million Units at April 30, 2017. Exchange Rights. Pursuant to the exercise of Exchange Rights, during fiscal year 2018, we redeemed approximately 1.5 million Units for an aggregate cost of $8.8 million at an average price per Unit of $5.89. In fiscal year 2017, we redeemed approximately 165,000 Units for an aggregate cost of $966,000 at an average price per Unit of $5.84. During fiscal year 2017, 503,000 Units were redeemed in exchange for common shares in connection with Unitholders exercising their Exchange Rights, with a total book value of $875,000 included in equity. Common Shares and Equity Awards. Common Shares outstanding on April 30, 2018 and 2017, totaled 119.5 million and 121.2 million, respectively. During fiscal years 2018 and 2017, we issued approximately 93,000 and 604,000 Common Shares, respectively, with a total grant-date value of $536,000 and $2.6 million, respectively, under our 2015 Incentive Award Plan, for executive officer and trustee share-based compensation for future performance. During fiscal year 2017, we also issued approximately 59,000 Common Shares, with a total grant-date value of approximately $352,000, under our 2008 Incentive Award Plan, for trustee share based compensation for fiscal year 2016 performance. During fiscal year 2018 and 2017, approximately 32,000 and 274,000 common shares were forfeited under the 2015 Incentive Award Plan, respectively. Share Repurchase Program. On December 7, 2016, our Board of Trustees authorized a share repurchase program to repurchase up to 50 million of our Common Shares over a one year period. On December 5, 2017, our Board of Trustees reauthorized this share repurchase program for an additional one year period. Under this program, we may repurchase Common Shares in open-market purchases, including pursuant to Rule 10b5-1 and Rule 10b-18 plans, as determined by management and in accordance with the requirements of the SEC. The extent to which we repurchase our shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by the executive management team. The program may be suspended or discontinued at any time. During fiscal year 2018, we repurchased and retired approximately 1.8 million common shares for an aggregate cost of $9.9 million, including commissions, at an average price per share of $5.56, excluding commissions. During fiscal year 2017, we repurchased and retired approximately 778,000 common shares for an aggregate cost of $4.5 million, including commissions, at an average price per share of $5.77. Issuance of Preferred Shares and Redemption of Series B Preferred Shares. In the year ended April 30, 2018, we issued 4,118,460 shares of our 6.625% Series C Cumulative Redeemable Preferred Shares and redeemed all 4,600,000 shares of our 7.95% Series B Cumulative Redeemable Preferred Shares. In the year ended April 30, 2017, we completed the redemption of all of the outstanding 8.25% Series A Cumulative Redeemable Preferred Shares (“Preferred A Shares”) for an aggregate redemption price of $29.2 million, and such shares are no longer outstanding as of such date.

SHAREHOLDERS’ EQUITY

Operating Partnership Units. Outstanding Units in the Operating Partnership were 14.1 million Units at April 30, 2018 and 15.6 million Units at April 30, 2017.

Exchange Rights. Pursuant to the exercise of Exchange Rights, during fiscal year 2018, we redeemed approximately 1.5 million Units for an aggregate cost of $8.8 million at an average price per Unit of $5.89. In fiscal year 2017, we redeemed approximately 165,000 Units for an aggregate cost of $966,000 at an average price per Unit of $5.84. During fiscal year 2017, 503,000 Units were redeemed in exchange for common shares in connection with Unitholders exercising their Exchange Rights, with a total book value of $875,000 included in equity.

Common Shares and Equity Awards. Common Shares outstanding on April 30, 2018 and 2017, totaled 119.5 million and 121.2 million, respectively. During fiscal years 2018 and 2017, we issued approximately 93,000 and 604,000 Common Shares, respectively, with a total grant-date value of $536,000 and $2.6 million, respectively, under our 2015 Incentive Award Plan, for executive officer and trustee share-based compensation for future performance. During fiscal year 2017, we also issued approximately 59,000 Common Shares, with a total grant-date value of approximately $352,000, under our 2008 Incentive Award Plan, for trustee share based compensation for fiscal year 2016 performance. During fiscal year 2018 and 2017, approximately 32,000 and 274,000 common shares were forfeited under the 2015 Incentive Award Plan, respectively.

Share Repurchase Program. On December 7, 2016, our Board of Trustees authorized a share repurchase program to repurchase up to 50 million of our Common Shares over a one year period. On December 5, 2017, our Board of Trustees reauthorized this share repurchase program for an additional one year period. Under this program, we may repurchase Common Shares in open-market purchases, including pursuant to Rule 10b5-1 and Rule 10b-18 plans, as determined by management and in accordance with the requirements of the SEC. The extent to which we repurchase our shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by the executive management team. The program may be suspended or discontinued at any time. During fiscal year 2018, we repurchased and retired approximately 1.8 million common shares for an aggregate cost of $9.9 million, including commissions, at an average price per share of $5.56, excluding commissions. During fiscal year 2017, we repurchased and retired approximately 778,000 common shares for an aggregate cost of $4.5 million, including commissions, at an average price per share of $5.77.

Issuance of Preferred Shares and Redemption of Series B Preferred Shares. In the year ended April 30, 2018, we issued 4,118,460 shares of our 6.625% Series C Cumulative Redeemable Preferred Shares and redeemed all 4,600,000 shares of our 7.95% Series B Cumulative Redeemable Preferred Shares. In the year ended April 30, 2017, we completed the redemption of all of the outstanding 8.25% Series A Cumulative Redeemable Preferred Shares (“Preferred A Shares”) for an aggregate redemption price of $29.2 million, and such shares are no longer outstanding as of such date.