<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF INCOME AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> JUL-31-1998 <PERIOD-END> JAN-31-1998 <CASH> 49,381 <SECURITIES> 2,004 <RECEIVABLES> 15,212 <ALLOWANCES> 6,397 <INVENTORY> 0 <CURRENT-ASSETS> 0 <PP&E> 1,342,598 <DEPRECIATION> 120,764 <TOTAL-ASSETS> 1,325,916 <CURRENT-LIABILITIES> 0 <BONDS> 532,619 <PREFERRED-MANDATORY> 0 <PREFERRED> 72,775 <COMMON> 749,553 <OTHER-SE> (64,943) <TOTAL-LIABILITY-AND-EQUITY> 1,325,916 <SALES> 0 <TOTAL-REVENUES> 121,352 <CGS> 0 <TOTAL-COSTS> 56,619 <OTHER-EXPENSES> 1,374 <LOSS-PROVISION> 2,018 <INTEREST-EXPENSE> 17,213 <INCOME-PRETAX> 44,062 <INCOME-TAX> 0 <INCOME-CONTINUING> 44,062 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 44,062 <EPS-PRIMARY> 0.70 <EPS-DILUTED> 0.69