However, the payout ratio of 69% of funds from operations forthepast quarter is down from 73% for the first quarter of 2002.

The company results from first quarter 2003 increased 13.3%to$3,637,000, compared with funds from operations in the firstquarter of 2002of $3,209,000.

Net incomes for the company increased 15.5% to $2,244,000, andtotalrevenues increased 13.8% to $7,019,000, both compared withfirstquarter 2002.

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