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Essex Property Trust's (ESS) CEO Michael Schall on Q1 2018 Results - Earnings Call Transcript

May 06, 2018 6:25 PM ETEssex Property Trust, Inc. (ESS)
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Essex Property Trust, Inc. (NYSE:ESS) Q1 2018 Results Earnings Conference Call May 3, 2018 12:00 PM ET


Michael Schall - President and CEO

John Burkart - Senior EVP, Asset Management

Angela Kleiman - CFO

John Eudy - Co-Chief Investment Officer


Rich Hill - Morgan Stanley

Nick Joseph - Citigroup

Jeff Spector - Bank of America

Austin Wurschmidt - KeyBanc Capital Markets

Dennis McGill - Zelman & Associates

Alex Kubicek - Baird

Alexander Goldfarb - Sandler O’Neill

Steve Sakwa - Evercore ISI

Wes Golladay - RBC Capital Markets

Karin Ford - MUFG Securities

John Pawlowski - Green Street Advisors

Buck Horne - Raymond James


Good day, and welcome to the Essex Property Trust First Quarter 2018 Earnings Call. As a reminder, today’s conference call is being recorded. Statements made on this conference call regarding expected operating results and other future events are forward-looking statements that involve risks and uncertainties. Forward-looking statements are made based on current expectations, assumptions and beliefs as well as information available to the company at this time. A number of factors could cause actual results to differ materially from those anticipated. Further information about these risks can be found on the company’s filings with the SEC. [Operator Instructions]

It is now my pleasure to introduce your host, Michael Schall, President and Chief Executive Officer for Essex Property Trust. Thank you. Mr. Schall, you may begin.

Michael Schall

Thank you for joining us today, and welcome to our first quarter earnings conference call. John Burkart and Angela Kleiman will follow me with comments, and John Eudy is here for Q&A. I will comment on three topics: our first quarter results and outlook for 2018, regulatory matters and investment markets. Our first quarter results were stronger than expected, with significant improvement from a challenging second half of 2017. As note at the Citigroup conference in

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