Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SILVERS GREGORY K
  2. Issuer Name and Ticker or Trading Symbol
ENTERTAINMENT PROPERTIES TRUST [epr]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP, CDO & General Counsel
(Last)
(First)
(Middle)
30 W PERSHING RD, STE 201
3. Date of Earliest Transaction (Month/Day/Year)
05/19/2005
(Street)

KANSAS CITY, MO 64108
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Shares of Beneficial Interest 05/19/2005   C   7,100 A $ 18.1875 76,310 D  
Common Shares of Beneficial Interest 05/19/2005   C   24,000 A $ 14.125 100,310 D  
Common Shares of Beneficial Interest 05/19/2005   C   16,889 A $ 16.05 117,199 D  
Common Shares of Beneficial Interest 05/19/2005   C   18,000 A $ 22.9 135,199 D  
Common Shares of Beneficial Interest 05/19/2005   C   24,179 A $ 24.86 159,378 D  
Common Shares of Beneficial Interest 05/19/2005   S   56,460 (1) D $ 45.45 (1) 102,918 D  
Common Shares of Beneficial Interest 05/19/2005   A   6,413 A (2) 109,331 D  
Common Shares of Beneficial Interest 05/19/2005   C   7,052 A (3) 113,307 (4) D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Purchase Common Shares of Beneficial Interest $ 18.1875 05/19/2005   C     7,100 12/01/1999 12/01/2008 Common Shares of Beneficial Interest 7,100 $ 18.1875 150,439 D  
Option to Purchase Common Shares of Beneficial Interest $ 14.125 05/19/2005   C     24,000 01/13/2001 01/13/2010 Common Shares of Beneficial Interest 24,000 $ 14.125 126,439 D  
Option to Purchase Common Shares of Beneficial Interest $ 16.05 05/19/2005   C     16,889 05/09/2002 05/09/2011 Common Shares of Beneficial Interest 16,889 $ 16.05 109,550 D  
Option to Purchase Common Shares of Beneficial Interest $ 22.9 05/19/2005   C     18,000 04/09/2003 04/09/2012 Common Shares of Beneficial Interest 18,000 $ 22.9 91,550 D  
Option to Purchase Common Shares of Beneficial Interest $ 24.86 05/19/2005   C     24,179 03/11/2004 03/11/2013 Common Shares of Beneficial Interest 24,179 $ 24.86 67,371 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SILVERS GREGORY K
30 W PERSHING RD
STE 201
KANSAS CITY, MO 64108
      VP, CDO & General Counsel  

Signatures

 /s/ Gregory K. Silvers   05/19/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Assigned to Company in payment of exercised price for options exercised and associated tax withholding payments.
(2) At the election of the Reporting Person, the Common Shares of Beneficial Interest were issued in lieu of a cash bonus and vest in three annual installments beginning January 1, 2006.
(3) The Common Shares of Beneficial Interest were granted to the Reporting Person as long-term compensation and vest in five annual installments beginning Janauary 1, 2006.
(4) The total amount of securities beneficially owned at the end of the month has been reduced by 3,076 shares to reflect the withholding of shares from a restricted share award in payment of withholding taxes related to the award which vested in January 2005.

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