Equity Residential (EQR) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please stand by. Your conference is about to begin. Good day, and welcome to the Equity Residential Third Quarter 2024 Earnings Conference Call and Webcast. Today's conference is being recorded. At this time, I'd like to turn the conference over to Marty McKenna. Please go ahead, sir. Good morning, and thanks for joining us to discuss Equity Residential's Third Quarter 2024 results. Our featured speakers today are Mark Perel, our President and CEO, Alec Brackenridge, our chief investment officer, and Michael Manelis, our chief operating officer. Bob Gartana, our CFO, is here with us as well for the Q&A. Our earnings release and management presentation are posted in the investor section of equityapartments.com. Please be advised that certain matters discussed during this conference call may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to certain economic risks and uncertainties. The company assumes no obligation to update or supplement these statements that become untrue because of subsequent events. Now, I will turn the call over to Mark Burrell. Thank you, Marty. Good morning, and thank you all for joining us today to discuss our third quarter 2024 results and outlook for the year. I will start us off, then Alec Brackenridge, our Chief Investment Officer, will discuss our recent acquisition from Blackstone and the overall transaction market. And then Michael Minelis, our Chief Operating Officer, will speak to our operating performance. Then we'll go ahead and take your questions. We posted solid performance in the third quarter, driven by continued good demand and little competitive new supply in our established markets, which constitute 90% of our portfolio. Big picture, we con...