Public Storage

Ladies and gentlemen, thank you for standing by and welcome to the Public Storage Third Quarter 2020 Earnings Conference Call. At this time, all participants have been placed in a listen-only mode, and the floor will be open for your questions following the presentation. If you have a question at that time, please press star 1 on your touch-tone phone. If you wish to remove yourself from the queue, please press the pound key. It is now my pleasure to turn the floor over to Ryan Burke, Vice President of Investor Relations. Ryan, you may begin.

Thank you, Christy. Hello, everyone. Thank you for joining us for our third quarter 2020 earnings call. I'm here with Joe Russell and Tom Boyle. Before we begin, we want to remind you that aside from those of historical fact, all statements on this call are forward-looking in nature and are subject to risk and uncertainties that could cause actual results to differ materially from those statements. The risk and other factors could adversely affect our business and future results as described in yesterday's earnings release. and in our reports filed with the SEC. All forward-looking statements speak only as of today, November 5, 2020. We assume no obligation to update or revise any of the statements, whether as a result of new information, future events, or otherwise. A reconciliation to GAAP of the non-GAAP financial measures we provide on this call is included in our earnings release. You can find our earnings release, SEC reports, and an audio replay of this conference call on our website at publicstorage.com. We do ask that you initially limit yourselves to two questions. Of course, feel free to jump back and queue after that. With that, I'll turn the call over to Joe.

Thank you, Ryan, and thanks for joining us today. We had a solid quarter, and now we'd like to open the call for questions.