Equity Residential (EQR) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.956 Good day and welcome to the Equity Residential first quarter 2025 earnings conference 00:00:04.956 -- 00:00:06.837 call and webcast. 00:00:06.837 -- 00:00:09.520 Today's conference is being recorded. 00:00:09.520 -- 00:00:12.162 At this time, I would like to turn the conference over to Mr. 00:00:12.162 -- 00:00:15.884 Marty McKenna. Please go ahead, sir. 00:00:17.427 -- 00:00:21.311 Good morning, and thanks for joining us to discuss Equity Residential's first quarter 00:00:21.311 -- 00:00:26.516 2025 results. Our featured speakers today are Mark Perel, our president and CEO, 00:00:26.516 -- 00:00:29.123 and Michael Manelis, our chief operating officer. 00:00:29.123 -- 00:00:33.108 Both Bob Garachana, our CFO, and Alec Brackenridge, our chief investment officer, are 00:00:33.108 -- 00:00:35.872 here with us as well for the Q&A. 00:00:35.872 -- 00:00:39.637 One of our peers will be hosting their call in an hour or so, so we plan to finish in 00:00:39.637 -- 00:00:44.284 time for that call to begin on time. To be respectful of time for today's Q&A, we are 00:00:44.284 -- 00:00:49.170 going to ask that you limit yourselves to one question and one follow-up, and we greatly 00:00:49.170 -- 00:00:53.456 appreciate your cooperation. Our earnings release is posted in the investor section of 00:00:53.456 -- 00:00:55.347 equityapartments.com. 00:00:55.347 -- 00:00:59.151 Please be advised that certain matters discussed during this conference call may constitute 00:00:59.151 -- 00:01:02.875 forward-looking statements in the meaning of the federal securities laws. 00:01:02.875 -- 00:01:07.140 These forward-looking statements are subject to certain economic risks and uncertainties. 00:01:07.140 -- 00:01:11.064 The company assumes no obligation t...