Apartment Investment and Management Company (AIV) Q3 2021 Earnings Call

Investor webinar replay

Replay transcript excerpt

quarter 2021 earnings conference call. We will have a question and answer session following the speaker's remarks. To register a question, please press star, then one on your telephone keypad. Please note, today's event is being recorded. I would now like to turn the conference over to Lisa Cone. Please go ahead, ma'am. Thank you, and good day. During this conference call, the forward-looking statements we make are based on management's judgments. including projections related to 2021 expectations. These statements are subject to certain risks and uncertainties, a description of which can be found in our SEC filings. Actual results may differ materially from what may be discussed today. We'll also discuss certain non-GAAP financial measures, such as funds from operations. These are defined and are reconciled to the most comparable GAAP measures in the supplemental information that is part of the full earnings release published on AIR's website. Prepared remarks today come from Terry Considine, our CEO, Steve Kimmel, President in Charge of Property Operations, and Paul Belvin, Air's CFO. Other members of management are present and will be available during our question and answer session as we follow our prepared remarks. I would now like to turn the call to Terry Considine. Terry? Thank you, Lisa, and thanks to all of you for your interest in air. This is a great time to be in the multifamily business. Across the country, the economy is healthy and customer demand is strong. There are lingering governmental restrictions in a few markets, but the multifamily business has largely recovered from the damage to the economy caused by last year's lockdown. Rents are above their 2019 peaks and above their long-term trend line, too. Investor demand fueled by low interest rates...