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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Apr. 30, 2018
Apr. 30, 2017
Apr. 30, 2016
REVENUE $ 169,745 $ 160,104 $ 145,500
EXPENSES      
Property operating expenses, excluding real estate taxes 54,292 47,587 43,741
Real estate taxes 18,742 16,739 14,407
Casualty loss 500 414 238
Depreciation and amortization 82,070 44,253 39,273
Impairment of real estate investments 18,065 57,028 5,543
General and administrative expenses 14,203 15,871 13,498
Acquisition and investment related costs 51 3,276 830
TOTAL EXPENSES 193,449 190,214 121,244
Operating income (loss) (23,704) (30,110) 24,256
Interest expense (34,178) (34,314) (28,417)
Loss on extinguishment of debt (940) (1,651) (106)
Interest income 1,197 366 78
Other income 311 780 307
Loss before gain on sale of real estate and other investments, gain on bargain purchase and income from discontinued operations (57,314) (64,929) (3,882)
Gain on sale of real estate and other investments 20,120 18,701 9,640
Gain on bargain purchase 0 0 3,424
Income (loss) from continuing operations (37,194) (46,228) 9,182
Income from discontinued operations 164,823 76,753 67,420
NET INCOME 127,629 30,525 76,602
Net income attributable to noncontrolling interests – Operating Partnership (12,702) (4,059) (7,032)
Net loss attributable to noncontrolling interests – consolidated real estate entities 1,861 16,881 2,436
Net income attributable to Investors Real Estate Trust 116,788 43,347 72,006
Dividends to preferred shareholders (8,569) (10,546) (11,514)
Redemption of preferred shares (3,657) (1,435) 0
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 104,562 $ 31,366 $ 60,492
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted (in dollars per share) $ (0.36) $ (0.30) $ 0.00
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted (in dollars per share) 1.23 0.56 0.49
NET INCOME PER COMMON SHARE – BASIC & DILUTED (in dollars per share) $ 0.87 $ 0.26 $ 0.49
Management Service [Member]      
Cost of revenue $ 5,526 $ 5,046 $ 3,714