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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Oct. 31, 2018
Oct. 31, 2017
Oct. 31, 2018
Oct. 31, 2017
REVENUE $ 45,638 $ 41,866 $ 91,584 $ 82,844
EXPENSES        
Property operating expenses, excluding real estate taxes 14,247 14,108 28,706 26,982
Real estate taxes 5,089 4,610 10,159 9,263
Casualty loss 225 115 450 600
Depreciation and amortization 19,191 17,270 37,803 42,608
Impairment of real estate investments 0 0 0 256
General and administrative expenses 3,374 3,118 7,244 7,120
TOTAL EXPENSES 43,445 40,593 87,048 89,557
Operating income (loss) 2,193 1,273 4,536 (6,713)
Interest expense (7,997) (8,509) (16,382) (16,640)
Loss on extinguishment of debt (4) (334) (556) (533)
Interest income 410 199 891 220
Other income 19 56 54 263
Income (loss) before gain on sale of real estate and other investments and income (loss) from discontinued operations (5,379) (7,315) (11,457) (23,403)
Gain (loss) on sale of real estate and other investments (232) 5,324 8,992 5,448
Income (loss) from continuing operations (5,611) (1,991) (2,465) (17,955)
Income (loss) from discontinued operations 0 15,130 570 17,815
NET INCOME (LOSS) (5,611) 13,139 (1,895) (140)
Net (income) loss attributable to noncontrolling interests – Operating Partnership 722 (773) 587 871
Net (income) loss attributable to noncontrolling interests – consolidated real estate entities 331 455 (334) 826
Net income (loss) attributable to controlling interests (4,558) 12,821 (1,642) 1,557
Dividends to preferred shareholders (1,706) (2,812) (3,411) (5,098)
Redemption of preferred shares 0 (3,649) 0 (3,649)
NET INCOME (LOSS) AVAILABLE TO COMMON SHAREHOLDERS $ (6,264) $ 6,360 $ (5,053) $ (7,190)
Earnings (loss) per common share from continuing operations – basic and diluted (in dollars per share) $ (0.05) $ (0.06) $ (0.04) $ (0.19)
Earnings (loss) per common share from discontinued operations – basic and diluted (in dollars per share) 0.00 0.11 0.00 0.13
NET EARNINGS (LOSS) PER COMMON SHARE – BASIC & DILUTED (in dollars per share) (0.05) 0.05 (0.04) (0.06)
DIVIDENDS PER COMMON SHARE (in dollars per share) $ 0.07 $ 0.07 $ 0.14 $ 0.14
Management Service [Member]        
EXPENSES        
Property management expense $ 1,319 $ 1,372 $ 2,686 $ 2,728