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EARNINGS PER SHARE (Tables)
 3 Months Ended
Jul. 31, 2017
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 condensed consolidated financial statements for the three months ended July 31, 2017 and 2016:

 

 

 

 

 

 

 

 

 

(in thousands, except per share data)

 

 

 

Three Months Ended

 

 

 

July 31, 

 

 

    

2017

    

2016

 

NUMERATOR

 

 

 

 

 

 

 

Loss from continuing operations – Investors Real Estate Trust

 

$

(11,762)

 

$

(25,670)

 

Income from discontinued operations – Investors Real Estate Trust

 

 

498

 

 

4,027

 

Net loss attributable to Investors Real Estate Trust

 

 

(11,264)

 

 

(21,643)

 

Dividends to preferred shareholders

 

 

(2,286)

 

 

(2,879)

 

Redemption of preferred shares

 

 

 —

 

 

 —

 

Numerator for basic earnings per share – net income available to common shareholders

 

 

(13,550)

 

 

(24,522)

 

Noncontrolling interests – Operating Partnership

 

 

(1,644)

 

 

(3,296)

 

Numerator for diluted earnings per share

 

$

(15,194)

 

$

(27,818)

 

DENOMINATOR

 

 

 

 

 

 

 

Denominator for basic earnings per share weighted average shares

 

 

120,421

 

 

121,117

 

Effect of redeemable operating partnership units

 

 

15,128

 

 

16,285

 

Denominator for diluted earnings per share

 

 

135,549

 

 

137,402

 

Loss per common share from continuing operations – Investors Real Estate Trust – basic and diluted

 

$

(0.11)

 

$

(0.23)

 

Earnings per common share from discontinued operations – Investors Real Estate Trust – basic and diluted

 

 

 —

 

 

0.03

 

NET LOSS PER COMMON SHARE – BASIC & DILUTED

 

$

(0.11)

 

$

(0.20)