CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Apr. 30, 2016	Apr. 30, 2015	Apr. 30, 2014
REVENUE
Real estate rentals	$ 170,698	$ 159,969	$ 145,028
Tenant reimbursement	17,622	19,352	19,562
TOTAL REVENUE	188,320	179,321	164,590
EXPENSES
Property operating expenses, excluding real estate taxes	58,859	53,535	50,552
Real estate taxes	20,241	19,602	18,704
Depreciation and amortization	49,832	42,784	39,712
Impairment of real estate investments	5,543	4,663	7,700
General and administrative expenses	11,267	11,824	10,743
Acquisition and investment related costs	830	362	279
Other expenses	2,231	1,647	1,850
TOTAL EXPENSES	148,803	134,417	129,540
Gain on involuntary conversion			2,480
Operating income	39,517	44,904	37,530
Interest expense	(35,768)	(34,447)	(33,729)
Loss on extinguishment of debt	(106)
Interest income	2,256	2,238	1,906
Other income	317	718	242
Income before gain (loss) on sale of real estate and other investments, gain on bargain purchase and income (loss) from discontinued operations	6,216	13,413	5,949
Gain (loss) on sale of real estate and other investments	9,640	6,093	(51)
Gain on bargain purchase	3,424
Income from continuing operations	19,280	19,506	5,898
Income (loss) from discontinued operations	57,322	9,178	(22,838)
NET INCOME (LOSS)	76,602	28,684	(16,940)
Net (income) loss attributable to noncontrolling interests - Operating Partnership	(7,032)	(1,526)	4,676
Net loss (income) attributable to noncontrolling interests – consolidated real estate entities	2,436	(3,071)	(910)
Net income (loss) attributable to Investors Real Estate Trust	72,006	24,087	(13,174)
Dividends to preferred shareholders	(11,514)	(11,514)	(11,514)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS	$ 60,492	$ 12,573	$ (24,688)
Earnings (loss) per common share from continuing operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	$ 0.08	$ 0.04	$ (0.05)
Earnings per common share from discontinued operations - Investors Real Estate Trust - basic and diluted (in dollars per share)	0.41	0.07	(0.18)
NET INCOME (LOSS) PER COMMON SHARE - BASIC & DILUTED (in dollars per share)	$ 0.49	$ 0.11	$ (0.23)