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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Oct. 31, 2017
Oct. 31, 2016
Oct. 31, 2017
Oct. 31, 2016
REVENUE        
Real estate rentals $ 48,702 $ 45,859 $ 96,349 $ 90,844
Tenant reimbursement 5,219 4,750 10,307 9,376
TOTAL REVENUE 53,921 50,609 106,656 100,220
EXPENSES        
Property operating expenses, excluding real estate taxes 18,741 15,814 36,377 31,871
Real estate taxes 6,556 5,759 13,170 11,336
Depreciation and amortization 20,694 13,531 49,621 27,798
Impairment of real estate investments     256 54,153
General and administrative expenses 3,118 3,522 7,120 7,023
TOTAL EXPENSES 49,109 38,626 106,544 132,181
Operating income (loss) 4,812 11,983 112 (31,961)
Interest expense (9,666) (10,626) (18,961) (20,990)
Loss on extinguishment of debt (334)   (533)  
Interest income 199 56 220 84
Other income 57 37 267 197
(Loss) income before gain (loss) on sale of real estate and other investments and income from discontinued operations (4,932) 1,450 (18,895) (52,670)
Gain (loss) on sale of real estate and other investments 5,324 (103) 5,448 8,855
Income (loss) from continuing operations 392 1,347 (13,447) (43,815)
Income from discontinued operations 12,747 10,943 13,307 15,511
NET INCOME (LOSS) 13,139 12,290 (140) (28,304)
Net income (loss) attributable to noncontrolling interests – Operating Partnership (773) (1,174) 871 2,122
Net loss attributable to noncontrolling interests – consolidated real estate entities 455 484 826 16,139
Net income (loss) attributable to controlling interests 12,821 11,600 1,557 (10,043)
Dividends to preferred shareholders (2,812) (2,878) (5,098) (5,757)
Redemption of preferred shares (3,649)   (3,649)  
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ 6,360 $ 8,722 $ (7,190) $ (15,800)
Loss per common share from continuing operations – basic and diluted $ (0.05)   $ (0.16) $ (0.23)
Earnings per common share from discontinued operations – basic and diluted 0.10 $ 0.07 0.10 0.10
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED 0.05 0.07 (0.06) (0.13)
DIVIDENDS PER COMMON SHARE $ 0.07 $ 0.13 $ 0.14 $ 0.26