Apartment Income REIT Corp (NYSE:AIRC) Q1 2022 Earnings Conference Call May 3, 2022 1:00 PM ET

Company Participants

Lisa Cohn - President and General Counsel

Terry Considine - CEO

Keith Kimmel - President, Property Operations

John McGrath - Co-CIO and Chairman of Investment Committee

Paul Beldin - CFO

Patti Shwayder - SVP and Chief Corporate Responsibility Officer

Conference Call Participants

Rob Stevenson - Janney

John Kim - BMO Capital Markets

Nick Joseph - Citi

Haendel St. Juste - Mizuho

Chandni Luthra - Goldman Sachs

Richard Anderson - SMBC

Operator

Good afternoon, my name is Austin and I will be your conference operator today. At this time, I would like to welcome everyone to the Apartment Income REIT's First Quarter 2022 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. Lisa Cohn, you may now begin your conference.

Lisa Cohn

Thank you and good day. My name is Lisa Cohn, and I am President and General Counsel of Apartment Income REIT Corp or AIR Communities. During this conference call, forward-looking statements we make are based on management's judgment, including projections related to 2022 expectations. These statements are subject to certain risks and uncertainties, a description of which can be found in our SEC filings. Actual results may differ materially from what may be discussed today. We will also discuss certain non-GAAP financial measures such as funds from operations. These are defined and are reconciled to the most comparable GAAP measures in the supplemental information that is part of the full earnings release published on AIR's website.

Prepared remarks today come from Terry Considine, our CEO; Keith Kimmel, President, in charge of Property Operations; John McGrath, our Co-CIO and Chairman of our Investment Committee; and Paul Beldin, our Chief Financial Officer. Other members of management are also present, and all of us will be available during the question-and-answer session that will follow our prepared remarks.

I will now turn the call to Terry Considine. Terry?

Terry Considine

Thank you, Lisa. And thanks to all of you for your interest in AIR. The year is off to an excellent start as detailed in the earnings release. My colleagues will provide further details. My comments will be few. I have three chief points. First, business is good. Keith and the Ops team continue to deliver outstanding results. Second, our balance sheet will be low leverage with fixed interest rates, limited repricing risk, great flexibility and simple.