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Avalonbay Communities' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Avalonbay Communities (AVB)

Q1 2012 Earnings Call

April 26, 2012 1:00 pm ET

Executives

John Christie - Senior Director of Investor Relations & Research

Timothy J. Naughton - President, Director, Chief Executive Officer, Member of Investment Committee, and Member of Finance Committee

Leo S. Horey - Executive Vice President of Property Operations

Thomas J. Sargeant - Chief Financial Officer and Executive Vice President

Sean J. Breslin - Executive Vice President of Investments & Asset Management

Mark Hunter - Chief Executive Officer of Residential

Bryce Blair - Chairman, Member of Investment Committee, and Member of Finance Committee

Analysts

Jana Galan - BofA Merrill Lynch, Research Division

Swaroop Yalla - Morgan Stanley, Research Division

Robert Stevenson - Macquarie Research

Eric Wolfe - Citigroup Inc, Research Division

Conor Fennerty - Goldman Sachs Group Inc., Research Division

Ross T. Nussbaum - UBS Investment Bank, Research Division

Richard C. Anderson - BMO Capital Markets U.S.

Michael J. Salinsky - RBC Capital Markets, LLC, Research Division

Philip J. Martin - Morningstar Inc., Research Division

Paula J. Poskon - Robert W. Baird & Co. Incorporated, Research Division

Karin A. Ford - KeyBanc Capital Markets Inc., Research Division

Alexander David Goldfarb - Sandler O'Neill + Partners, L.P., Research Division

David Bragg - Zelman & Associates, Research Division

Presentation

Operator

Good afternoon, ladies and gentlemen, and welcome to AvalonBay Communities First Quarter 2012 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to introduce your host for today's conference call, Mr. John Christie, Senior Director of Investor Relations. Mr. Christie, you may begin your conference.

John Christie

Thank you, Sarah, and welcome to AvalonBay Communities First Quarter 2012 Earnings Conference Call. Before we begin, please note that forward-looking statements may be made during this discussion, and there are a variety of risks and uncertainties associated with forward-looking statements, and actual results may differ materially. There is a discussion of these risks and uncertainties in yesterday afternoon's press release, as well as in the company's Form 10-K and Form 10-Q filed with the SEC.

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