Federal Realty Investment Trust

Good day and welcome to the Federal Realty Investment Trust second quarter 2026 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. To ask a question, you may press star, then one on a touchtone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Jill Sawyer, Senior Vice President of Investor Relations.

Thanks, Debbie. Good morning. Thank you for joining us today for Federal Realty's second quarter 2026 earnings conference calls. Joining me on the call are Dawn Wood, Federal's Chief Executive Officer, Dan Guglielmone, Chief Financial Officer, Wendy Seher, Eastern Region President and Chief Operating Officer, and Jan Sweetnam, Chief Investment Officer, as well as other members of our executive team that are available to take your questions at the conclusion of our prepared remarks. A reminder that certain matters discussed on this call may be deemed to be forward-looking statements. Forward-looking statements include any annualized or projected information, as well as statements referring to expected or anticipated events or results, including guidance. Although Federal Realty believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, Federal Realty's future operations and its actual performance may differ materially from the information in our forward-looking statements, and we can give no assurance that these expectations can be attained. The earnings release and supplemental reporting package that we issued this morning Our annual report filed on Form 10-K and our other financial disclosure documents provide a more in-depth discussion of risk factors that may affect our financial conditions and operational results. Given the number of participants on the call, we kindly ask that you limit yourself to one question during the Q&A portion. If you have additional questions, please re-queue. And with that, I'll turn the call over to Dawn Wood.

Well, thank you, Jill. And good morning, everybody. Strong quarter. Dollar-a-year to share. 7% year-over-year growth. 96% occupancy. Record leasing volume, 59th year consecutive dividend raises, another beaten raise, all validating the optimism for the rest of the year and next. Dan will get into the specifics for modeling purposes.