Camden Property Trust

I didn't know it'd go this far, but here I am. These wheels, they keep on turning, getting right into the stars. I know it's all been worth it, man, I sure miss playing bars. All I ever really wanted was to sing and play guitar with my friends. Some said I'd never make it, that I didn't do things right. So I showed them who I was, and then I made it just to spite. I changed again. We'll be right back. I stood in the rain, I may be borderline insane. Been messed around, been put down, but I keep coming back again. I'll wear that hat yonder month, says I did it my own way. End of the day, I can say.

As soon as you are able, woman, I am willing to make the break that we are on the brink of. My cup is on the table, my love is feeling, waiting here for you to take and drink of. so if you're tired yeah Ahead of heaven, felt the tables turning Gotten through my darkest hour All of the thunder clapping Felt the desert burning Until you poured on me like a sweet sun shower So if you're tired of the same old story Good morning and welcome to Camden Property Trust's first quarter 2026 earnings conference call.

I'm Kim Callahan, Senior Vice President of Investor Relations. Joining me today for our prepared remarks are Rick Campo, Camden's Executive Chairman, Alex Jesset, Chief Executive Officer, Lori Baker, President and Chief Operating Officer, and Ben Fraker, Chief Financial Officer, Keith Oden, Executive Vice Chairman, and Stanley Jones, Senior Vice President of Real Estate Investments, will also be available for the Q&A portion of our call. Today's event is being webcast through the Investors section of our website at camdenliving.com, and a replay will be available shortly after the call ends. And please note, this event is being recorded. 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 2026 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 the call. We would like to respect everyone's time and complete our call within one hour, so please limit your initial question to one. then rejoin the queue if you have a follow-up question or 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.