Camden Property Trust

Good day and welcome to the Kanban Properties first quarter 2020 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded. I would now like to turn the conference over to Kim Callahan, Senior Vice President of Investor Relations. Please go ahead.

Good morning, and thank you for joining Camden's first quarter 2020 earnings conference call. Before we begin our prepared remarks, I would like to advise everyone that we will be making forward-looking statements based on our current expectations and beliefs. These statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from expectations. Further information about these risks can be found in our filings with the SEC, and we encourage you to review them. Any forward-looking statements made on today's call represent management's current opinions, and the company assumes no obligation to update or supplement these statements because of subsequent events. As a reminder, Camden's complete first quarter 2020 earnings release is available in the investor section of our website at camdenliving.com, and it includes reconciliations to non-GAAP financial measures, which will be discussed on this call. Joining me today are Rick Campo, Camden's Chairman and Chief Executive Officer, Keith Oden, Executive Vice Chairman, and Alex Jesset, Chief Financial Officer. We will attempt to complete our call within one hour, so we ask that you limit your questions to two, then rejoin the queue if you have additional items to discuss. If we are unable to speak with everyone in the queue today, we'd be happy to respond to additional questions by phone or email after the call concludes. At this time, I'll turn the call over to Rick Campo.

Thanks, Kim, and good morning. Our on-hold music today was unsurprisingly pandemic-themed and included a couple of selections from Michael Billerman's personal COVID-19 playlist. Four of the five songs were probably familiar to many of you, and the fifth song was a unique cover of a Led Zeppelin classic. Even that song has a COVID-19 connection. A resident at Camden's high-rise community in St. Petersburg, Florida, wanted to do something special for his wife's birthday, and despite the at-home stay order. He asked if he could use the roof of the community's parking garage to stage a concert for his wife. Of course, we agreed. Not only did he surprise and delight her, but all of the other residents whose homes overlooked the garage rooftop. They got to enjoy an incredible performance by Sean Hopper and Chris Barbosa from their perfectly socially distanced balconies. This is just one example of the many ways that we and our residents are working together to help ensure we make the best of this complicated journey we're on. I want to give a big shout out to Team Camden for their resilience, their commitment to improving the lives of teammates, customers, and shareholders one experience at a time. Our on-site property teams have really stepped up to help our residents during this unprecedented time. to make their homes a true place of refuge. Our corporate and regional support teams have continued to be highly productive, adapting to telecommuting without missing a beat. During times like this, it brings the importance of our homes to the forefront. I'm proud of Team Camden. Thank you. We'll use most of the call today answering questions about what we're seeing in our business in real time. We won't spend much time talking about the distant fruits quarter, and will not provide guidance for the rest of 2020 in this uncertain environment. We are more prepared for this recession than any other thanks to the lessons learned in the financial crisis. We know that we will come out of this recession in a great position with financial strength and a focused, motivated team. Keith?