EXHIBIT 99.1
Item 6. Selected Financial Data
Set forth below is selected financial data on a historical basis for the Company for the five most recent fiscal years ended April 30. This information should be read in conjunction with the consolidated financial statements and notes appearing elsewhere in this Annual Report on Form 10-K.
| | (in thousands, except per share data) | |
| | 2012 | | | 2011 | | | 2010 | | | 2009 | | | 2008 | |
| Consolidated Income Statement Data | | | | | | | | | | | | | | | |
| Revenue | | $ | 240,098 | | | $ | 235,345 | | | $ | 229,338 | | | $ | 225,897 | | | $ | 207,275 | |
| Gain on sale of real estate, land, and other investments | | $ | 349 | | | $ | 19,365 | | | $ | 68 | | | $ | 54 | | | $ | 556 | |
| Income from continuing operations | | $ | 9,753 | | | $ | 4,475 | | | $ | 5,996 | | | $ | 9,858 | | | $ | 13,945 | |
| (Loss) income from discontinued operations | | $ | (47 | ) | | $ | 19,876 | | | $ | (1,411 | ) | | $ | 855 | | | $ | 1,684 | |
| Net income | | $ | 9,706 | | | $ | 24,351 | | | $ | 4,585 | | | $ | 10,713 | | | $ | 15,629 | |
| Net income attributable to noncontrolling interests – Operating Partnership | | $ | (1,359 | ) | | $ | (4,449 | ) | | $ | (562 | ) | | $ | (2,227 | ) | | $ | (3,677 | ) |
| Net income attributable to Investors Real Estate Trust | | $ | 8,212 | | | $ | 20,082 | | | $ | 4,001 | | | $ | 8,526 | | | $ | 12,088 | |
| Consolidated Balance Sheet Data | | | | | | | | | | | | | | | | | | | | |
| Total real estate investments | | $ | 1,557,108 | | | $ | 1,458,245 | | | $ | 1,500,889 | | | $ | 1,472,575 | | | $ | 1,456,178 | |
| Total assets | | $ | 1,714,367 | | | $ | 1,615,363 | | | $ | 1,660,930 | | | $ | 1,605,091 | | | $ | 1,618,026 | |
| Mortgages payable | | $ | 1,048,689 | | | $ | 993,803 | | | $ | 1,057,619 | | | $ | 1,070,158 | | | $ | 1,063,858 | |
| Revolving lines of credit | | $ | 39,000 | | | $ | 30,000 | | | $ | 6,550 | | | $ | 5,500 | | | $ | 0 | |
| Total Investors Real Estate Trust shareholders' equity | | $ | 432,989 | | | $ | 411,690 | | | $ | 409,523 | | | $ | 333,009 | | | $ | 344,074 | |
| | | | | | | | | | | | | | | | | | | | |
Consolidated Per Common Share Data (basic and diluted) | | | | | | | | | | | | | | | | | | | | |
| Income from continuing operations - Investors Real Estate Trust | | $ | .07 | | | $ | .02 | | | $ | .04 | | | $ | .10 | | | $ | .16 | |
| Income (loss) from discontinued operations - Investors Real Estate Trust | | $ | .00 | | | $ | .20 | | | $ | (.01 | ) | | $ | .01 | | | $ | .02 | |
| Net income | | $ | .07 | | | $ | .22 | | | $ | .03 | | | $ | .11 | | | $ | .18 | |
| Distributions | | $ | .56 | | | $ | .69 | | | $ | .68 | | | $ | .68 | | | $ | .67 | |
| CALENDAR YEAR | 2011 | 2010 | 2009 | 2008 | 2007 |
| Tax status of distributions | | | | | |
| Capital gain | 37.48% | 0.00% | 0.09% | 0.00% | 1.49% |
| Ordinary income | 18.04% | 28.53% | 39.17% | 53.43% | 51.69% |
| Return of capital | 44.48% | 71.47% | 60.74% | 46.57% | 46.82% |
For the fiscal year ended April 30, 2012, IRET recognized approximately $1.3 million of net capital gain for federal income tax purposes. IRET designates the entire $1.3 million of net capital gain as capital gain dividends.
