Essex Property Trust, Inc. (ESS) CEO Michael Schall on Q1 2021 Results - Earnings Call Transcript

Apr. 28, 2021 10:12 PM ETEssex Property Trust, Inc. (ESS) Stock
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Q1: 2021-04-27 Earnings Summary

10-Q
EPS of $2.59 beats by $1.62 | Revenue of $352.88M (-9.46% Y/Y) misses by $3.33M

Essex Property Trust, Inc. (NYSE:ESS) Q1 2021 Earnings Conference Call April 28, 2021 2:00 PM ET

Company Participants

Michael Schall - President, CEO & Director
Angela Kleiman - Senior EVP & COO
Barbara Pak - EVP & CFO
Adam Berry - EVP & CIO

Conference Call Participants

Nicholas Joseph - Citigroup
Austin Wurschmidt - KeyBanc Capital Markets
Alexander Goldfarb - Piper Sandler & Co.
Jeffrey Spector - Bank of America Merrill Lynch
John Pawlowski - Green Street Advisors
John Kim - BMO Capital Markets
Richard Hill - Morgan Stanley
Neil Malkin - Capital One Securities
Dennis McGill - Zelman & Associates
Bradley Heffern - RBC Capital Markets

Operator

Good day, and welcome to the Essex Property Trust First Quarter 2021 Earnings Conference 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.

It is now my pleasure to introduce your host, Mr. 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. Angela Kleiman and Barb Pak will follow me with prepared remarks; and Adam Berry, our Chief Investment Officer, is here for Q&A. I'll start today with our first quarter results and expectations for the remainder of the year, including factors that lead us to believe that 2021 will be a year of recovery from the pandemic and

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