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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
 12 Months Ended
Apr. 30, 2017
Apr. 30, 2016
Apr. 30, 2015
REVENUE      
Real estate rentals $ 186,837 $ 170,698 $ 159,969
Tenant reimbursement 18,901 17,622 19,352
TOTAL REVENUE 205,738 188,320 179,321
EXPENSES      
Property operating expenses, excluding real estate taxes 64,768 58,859 53,535
Real estate taxes 23,587 20,241 19,602
Depreciation and amortization 55,009 49,832 42,784
Impairment of real estate investments 57,028 5,543 4,663
General and administrative expenses 12,075 11,267 11,824
Acquisition and investment related costs 3,276 830 362
Other expenses 3,796 2,231 1,647
TOTAL EXPENSES 219,539 148,803 134,417
Operating (loss) income (13,801) 39,517 44,904
Interest expense (41,127) (35,768) (34,447)
Loss on extinguishment of debt (3,099) (106)  
Interest income 369 81 62
Other income 807 317 718
(Loss) income before gain on sale of real estate and other investments, gain on bargain purchase and income from discontinued operations (56,851) 4,041 11,237
Gain on sale of real estate and other investments 18,701 9,640 6,093
Gain on bargain purchase   3,424  
(Loss) income from continuing operations (38,150) 17,105 17,330
Income from discontinued operations 68,675 59,497 11,354
NET INCOME 30,525 76,602 28,684
Net income attributable to noncontrolling interests – Operating Partnership (4,059) (7,032) (1,526)
Net loss (income) attributable to noncontrolling interests – consolidated real estate entities 16,881 2,436 (3,071)
Net income attributable to Investors Real Estate Trust 43,347 72,006 24,087
Dividends to preferred shareholders (10,546) (11,514) (11,514)
Redemption of preferred shares (1,435)    
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 31,366 $ 60,492 $ 12,573
(Loss) earnings per common share from continuing operations – Investors Real Estate Trust – basic and diluted $ (0.24) $ 0.06 $ 0.02
Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted 0.50 0.43 0.09
NET INCOME PER COMMON SHARE – BASIC & DILUTED $ 0.26 $ 0.49 $ 0.11