UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
Date of Report (Date of earliest event reported) April 21, 1998
(April 13, 1998)
ENTERTAINMENT PROPERTIES TRUST
(Exact name of Registrant as specified in its charter)
Maryland 43-179877
(State or other (Commission (I.R.S. Employer
jurisdiction of Incorporation) File Number) Identification No.)
One Kansas City Place
1200 Main Street, Suite 3250, Kansas City, Missouri 64105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (816) 472-1700
_________________________________________________________________
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
Entertainment Properties Trust (the "Company") issued a
press release on April 13, 1998, a copy of which is attached
hereto as Exhibit 99 and is incorporated herein by reference,
announcing total income (rental income and interest income) of
$6,613,860 for the first quarter ended March 31, 1998.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits. The following Exhibits are filed with this
report:
Exhibit No. Description
99 Press Release, issued April 13, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, hereunto duly authorized.
ENTERTAINMENT PROPERTIES TRUST
By: /s/ R. Scott Christian
R. Scott Christian, Treasurer
Date: April 16, 1998
EXHIBIT 99
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Jon B. Weis
Director of Corporate Communications
Entertainment Properties Trust
(816) 221-7500
Joe Keenan, Sturges + Word
(816) 221-7500
ENTERTAINMENT PROPERTIES TRUST ANNOUNCES
FIRST QUARTER RESULTS ABOVE ANALYST EXPECTATIONS
KANSAS CITY, Mo. (April 13, 1998) -- Entertainment Properties
Trust (EPR:NYSE), a Real Estate Investment Trust (REIT) that owns
entertainment-related properties, reported today total income
(rental income and interest income) of $6,613,860 for the first
quarter ended March 31, 1998.
The company's funds from operations (FFO) for the same period
were $5,866,119, which represents $.42 per share. The results
were above the First Call composite forecast for the company.
The company also reported net income during that same period of
$4,580,414, which represents net income of $.33 per share. This
period is the first full operating quarter since EPR went public
in November 1997.
"We are pleased with the results of our first full quarter of
operations,"President Robert L. "Chip" Harris said. "Our
earnings reflect the addition of the Gulf Pointe 30, South
Barrington 30 and Cantera 30 megaplex theatre properties and our
continued management of our general and administrative costs."
Entertainment Properties Trust was organized as a REIT in August
1997 and raised a total of $276 million through a public offering
in November 1997. In March, the Company closed on a $200 million
credit facility, which the company expects to use to finance the
acquisition of additional megaplex theatres and other
entertainment-related properties.
Entertainment Properties Trust is a Real Estate Investment Trust
whose principal business strategy is to acquire and develop a
diversified portfolio of high-quality properties leased to
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entertainment-related business operators. The Company's common
shares of beneficial interest are traded on the New York Stock
Exchange under the ticker symbol EPR.
With the exception of historical information, the matters
discussed in this press release involve forward-looking
statements as such statements are defined in the Private
Securities Litigation Reform Act of 1995, and which may be
identified by such words as "continue," "believe," "may,"
"expect," "hope," "anticipate," "goal," or other comparable
terminology. Such forward-looking statements involve risk and
uncertainties which include, but are not limited to, the
Company's need to diversify its client base, increased
competition from other REITs, the dependence on key personnel and
other risks. Actual results may differ from those indicated in
such forward-looking statements. In evaluating such factors,
shareholders and investors are cautioned not to place undue
reliance on such forward-looking statements. In addition to the
above factors, shareholders and investors are encouraged to
review the factors set forth in the Company's prospectus dated
November 18, 1997.
