EOPT Reports 1Q Earnings

Equity Office Properties Trust, Chicago, has reported net income of $100.9 million ($0.25 per share) for the first quarter, compared with $65.3 million ($0.16 per share) for the first quarter of 2004.Funds from operations for the first quarter totaled $302.1 million ($0.66 per share), the office real estate investment trust said, about the same as the FFO of $302.4 million for the first quarter of 2004. "Office markets across the country are continuing to improve," said Richard D. Kincaid, EOPT's president and chief executive officer. "We expect limited construction of new space through 2006, and see positive trends in occupancy, job growth, and office space absorption. With these positive signs, we anticipate steady improvement and an increase in leasing activity in many of our markets."