Washington Real Estate Investment Trust (WRE) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET
Company Participants
Amy Hopkins – Vice President, Investor Relations
Paul McDermott – Chairman, President and Chief Executive Officer
Steve Riffee – Executive Vice President and Chief Financial Officer
Grant Montgomery – Vice President, Head of Research
Conference Call Participants
Blaine Heck – Wells Fargo
Tony Paolone – JP Morgan
Operator
Welcome to the Washington Real Estate Investment Trust First Quarter Earnings Conference Call. As a reminder, today's call is being recorded.
At this time, I would like to turn the call over to Amy Hopkins, Vice President of Investor Relations. Amy, please go ahead.
Amy Hopkins
Good morning everyone and thank you for joining us for our first quarter earnings call. On the call with me today are Paul McDermott, President and Chief Executive Officer; Steve Riffee, Executive Vice President and Chief Financial Officer; Drew Hammond, Vice President, Chief Accounting Officer and Treasurer; and Grant Montgomery, Vice President and Head of Research.
Before we begin, I would like to remind everyone that this conference call contains forward-looking statements that involve known and unknown risks and uncertainties, which may cause actual results to differ materially, and we undertake no duty to update them as actual events unfold. We refer to certain of these risks in our SEC filings. Reconciliations of the GAAP and non-GAAP financial measures discussed on this call are available in our most recent earnings press release and financial supplement, which was distributed yesterday and can be found on the Investor Relations page of our website.
I'd now like to turn the call over to President and Chief Executive Officer, Paul McDermott.
Paul McDermott
Thank you, Amy. Good morning, everyone, and thanks for joining us today.
Our first quarter results reflect the beginning of the earnings momentum that we expect to generate over the coming years as we capture the strong rent growth embedded in our portfolio and continue to expand our footprint in the Southeast.
On today's call I will provide an update on our geographic expansion, which is progressing well and is delivering results that exceed our initial expectations. I will then discuss first quarter operating highlights and the historic multifamily market conditions in the Washington Metro and Atlanta. I will also touch on the latest progress on our operating model and technology transformation, which is focused on resident satisfaction, and driving better performance and operating leverage as we scale the company. Steve will discuss our first quarter results and performance highlights, our 2022 guidance, and the earnings momentum that we are building which will carry over into the years ahead.