Jason Reilley | AvalonBay Communities, Inc. |
Timothy J. Naughton | AvalonBay Communities, Inc. |
Sean J. Breslin | AvalonBay Communities, Inc. |
Kevin P. O'Shea | AvalonBay Communities, Inc. |
Matthew H. Birenbaum | AvalonBay Communities, Inc. |
Nicholas Joseph | Citigroup Global Markets, Inc. |
Juan C. Sanabria | Bank of America Merrill Lynch |
Vincent Chao | Deutsche Bank |
Rich Allen Hightower | Evercore ISI |
Austin Wurschmidt | KeyBanc Capital Markets, Inc. |
Drew T. Babin | Robert W. Baird & Co., Inc. |
Richard Hill | Morgan Stanley & Co. LLC |
John Richard Pawlowski | Green Street Advisors LLC |
Dennis Patrick McGill | Zelman & Associates |
Alexander Goldfarb | Sandler O'Neill & Partners LP |
Omotayo Tejumade Okusanya | Jefferies LLC |
Good morning, ladies and gentlemen, and welcome to the AvalonBay Communities First Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Following remarks by the company, we will conduct a question-and-answer session.
Your host for today's conference call is Mr. Jason Reilley, Vice President of Investor Relations.