CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
REVENUE
Real estate rentals	$ 46,727	$ 45,304	$ 92,249	$ 88,868
Tenant reimbursement	4,578	5,042	8,974	9,899
TRS senior housing revenue	965	843	2,003	1,636
TOTAL REVENUE	52,270	51,189	103,226	100,403
EXPENSES
Depreciation/amortization related to real estate investments	14,461	12,859	27,733	25,073
Utilities	3,124	3,024	6,330	5,969
Maintenance	5,784	5,062	11,158	10,048
Real estate taxes	5,002	4,781	9,919	9,768
Insurance	1,244	1,068	2,344	2,530
Property management expenses	4,635	3,479	8,506	7,145
Other property expenses	243	350	175	556
TRS senior housing expenses	812	725	1,581	1,418
Administrative expenses	2,933	2,890	5,387	6,554
Other expenses	1,204	578	1,628	1,190
Amortization related to non-real estate investments	169	216	340	437
Impairment of real estate investments	1,873	1,803	3,158	4,123
TOTAL EXPENSES	41,484	36,835	78,259	74,811
Operating income	10,786	14,354	24,967	25,592
Interest expense	(10,131)	(9,954)	(19,327)	(19,701)
Loss on extinguishment of debt	(106)	0	(106)	0
Interest income	565	560	1,121	1,120
Other income	100	136	151	262
Income before gain (loss) on sale of real estate and other investments and income (loss) from discontinued operations	1,214	5,096	6,806	7,273
Gain (loss) on sale of real estate and other investments	0	1,231	(175)	(1,762)
Income from continuing operations	1,214	6,327	6,631	5,511
Income (loss) from discontinued operations	15,463	(457)	14,773	160
NET INCOME	16,677	5,870	21,404	5,671
Net (income) loss attributable to noncontrolling interests - Operating Partnership	(1,527)	(363)	(1,713)	39
Net loss (income) attributable to noncontrolling interests - consolidated real estate entities	1,516	(393)	1,515	(747)
Net income attributable to Investors Real Estate Trust	16,666	5,114	21,206	4,963
Dividends to preferred shareholders	(2,878)	(2,878)	(5,757)	(5,757)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 13,788	$ 2,236	$ 15,449	$ (794)
Earnings (loss) per common share from continuing operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	$ 0	$ 0.02	$ 0.02	$ (0.01)
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	0.11	0	0.10	0
NET INCOME (LOSS) PER COMMON SHARE - BASIC AND DILUTED (in dollars per share)	0.11	0.02	0.12	(0.01)
DIVIDENDS PER COMMON SHARE (in dollars per share)	$ 0.1300	$ 0.1300	$ 0.2600	$ 0.2600