Q1 FFO of $1.07, vs. $1.11, beats our $1.00 estimate. The quarter benefits from $0.05 a share in lease termination fees. Occupancy of 92.9% is down from 94.3%. However, the trust faces minimal lease expirations over the rest of 2010 and reports higher tenant demand in key New York and Washington, DC markets. We think recent financings, including a $700 million debt offering, will boost interest expense. As a result, we keep our 2010 FFO estimate of $4.10. Our 12-month target price of $80, unchanged, is 19.5X our 2010 FFO outlook and a premium to office peers.