EARNINGS PER SHARE (Tables)

12 Months Ended

Apr. 30, 2016

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 consolidated financial statements for the fiscal years ended April 30, 2016, 2015 and 2014:

	For Year Ended April 30,
	(in thousands, except per share data)
	2016		2015		2014
NUMERATOR
Income from continuing operations – Investors Real Estate Trust	$	20,600	$	15,996	$	6,065
Income (loss) from discontinued operations – Investors Real Estate Trust		51,406		8,091		(19,239)
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)
Numerator for basic earnings per share – net income (loss) available to common shareholders		60,492		12,573		(24,688)
Noncontrolling interests – Operating Partnership		7,032		1,526		(4,676)
Numerator for diluted earnings (loss) per share	$	67,524	$	14,099	$	(29,364)
DENOMINATOR
Denominator for basic earnings per share weighted average shares		123,094		118,004		105,331
Effect of convertible operating partnership units		14,278		16,594		21,697
Denominator for diluted earnings per share		137,372		134,598		127,028
Earnings (loss) per common share from continuing operations – Investors Real Estate Trust – basic and diluted	$	0.08	$	0.04	$	(0.05)
Earnings (loss) per common share from discontinued operations – Investors Real Estate Trust – basic and diluted		0.41		0.07		(0.18)
NET INCOME (LOSS) PER COMMON SHARE – BASIC & DILUTED	$	0.49	$	0.11	$	(0.23)