UDR, Inc. (UDR) Q1 2023 Earnings Call Transcript

UDR, Inc. (NYSE:UDR) Q1 2023 Earnings Conference Call April 27, 2023 12:00 PM ET

Company Participants

Trent Trujillo - Director, Investor Relations

Tom Toomey - Chairman & Chief Executive Officer

Mike Lacy - Senior Vice President, Operations

Joe Fisher - President & Chief Financial Officer

Andrew Cantor - Senior Vice President, Acquisitions & Dispositions

Conference Call Participants

Eric Wolfe - Citi

Jeff Spector - Bank of America

Austin Wurschmidt - KeyBanc Capital Markets

Tony Paolone - JPMorgan

Jamie Feldman - Wells Fargo

Adam Kramer - Morgan Stanley

Chandni Luthra - Goldman Sachs

Juan Sanabria - BMO Capital Markets

Michael Goldsmith - UBS

Dan Tricarico - Scotiabank

Anthony Powell - Barclays

Alan Peterson - Green Street

Flora Tong - Evercore ISI

Alexander Goldfarb - Piper Sandler

Tayo Okusanya - Credit Suisse

Operator

Greetings and welcome to the UDR First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Trent Trujillo. Please go ahead.

Trent Trujillo

Welcome to UDR's quarterly financial results conference call. Our press release and supplemental disclosure package were distributed yesterday afternoon and posted to the Investor Relations section of our website ir.udr.com. In the supplement, we have reconciled all non-GAAP financial measures to the most directly comparable GAAP measure in accordance with Reg G requirements.

Statements made during this call, which are not historical may constitute forward-looking statements. Although, we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be met. A discussion of risks and risk factors are detailed in our press release and included in our filings with the SEC. We do not undertake a duty to update any forward-looking statements.

When we get to the question-and-answer portion, we ask that you be respectful of everyone’s time and limit your questions to one plus a follow-up. Management will be available after the call for your questions that did not get answered during the Q&A session today.

I will now turn the call over to UDR's Chairman and CEO, Tom Toomey.

Tom Toomey

Thank you Trent, and welcome to UDR's first quarter 2023 conference call. Presenting on the call with me today are President and Chief Financial Officer, Joe Fisher; and Senior Vice President of Operations, Mike Lacy who will discuss our results. Senior officers Andrew Cantor and Chris van Ens will also be available during the Q&A portion of the call.