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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jan. 31, 2018
Jan. 31, 2017
Jan. 31, 2018
Jan. 31, 2017
REVENUE        
Real estate rentals $ 42,858 $ 39,390 $ 125,431 $ 116,386
Tenant reimbursement 396 838 1,949 2,321
TOTAL REVENUE 43,254 40,228 127,380 118,707
EXPENSES        
Property operating expenses, excluding real estate taxes 15,426 14,571 47,018 41,391
Real estate taxes 4,609 4,048 13,872 12,179
Depreciation and amortization 18,390 10,787 60,998 33,193
Impairment of real estate investments 0 0 256 54,153
General and administrative expenses 3,011 4,172 10,131 11,195
TOTAL EXPENSES 41,436 33,578 132,275 152,111
Operating income (loss) 1,818 6,650 (4,895) (33,404)
Interest expense (9,236) (8,832) (25,876) (26,033)
Loss on extinguishment of debt (285) (458) (818) (458)
Interest income 408 272 628 354
Other income 25 155 288 331
Loss before gain on sale of real estate and other investments and income from discontinued operations (7,270) (2,213) (30,673) (59,210)
Gain on sale of real estate and other investments 12,387 2,437 17,835 11,292
Income (loss) from continuing operations 5,117 224 (12,838) (47,918)
Income from discontinued operations 146,811 24,965 164,626 44,803
NET INCOME (LOSS) 151,928 25,189 151,788 (3,115)
Net income attributable to noncontrolling interests – Operating Partnership (16,236) (2,525) (15,365) (403)
Net loss attributable to noncontrolling interests – consolidated real estate entities 413 446 1,239 16,585
Net income attributable to controlling interests 136,105 23,110 137,662 13,067
Dividends to preferred shareholders (1,766) (2,503) (6,864) (8,260)
Redemption of preferred shares (8) (1,435) (3,657) (1,435)
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 134,331 $ 19,172 $ 127,141 $ 3,372
Earnings (loss) per common share from continuing operations – basic and diluted (in dollars per share) $ 0.03 $ (0.03) $ (0.16) $ (0.30)
Earnings per common share from discontinued operations – basic and diluted (in dollars per share) 1.09 0.19 1.22 0.33
NET EARNINGS PER COMMON SHARE – BASIC & DILUTED (in dollars per share) 1.12 0.16 1.06 0.03
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.07 $ 0.13 $ 0.21 $ 0.39