발화자 미상
Operator: Thank you for standing by. My name is Kate, and I will be your conference operator today. At this time, I would like to welcome everyone to the AH Realty Trust, AHRT 2Q '26 Earnings Call. I would now like to turn the call over to Chelsea Forrest, EVP of Investor Relations. Please go ahead.
Chelsea Forrest: Good morning, and thank you for joining AH Realty Trust Second Quarter 2026 Earnings Conference Call and Webcast. On the call this morning, in addition to myself is Shawn Tibbetts, Chairman, President and CEO; Matthew Barnes-Smith, CFO; and Craig Ramiro, EVP of Asset Management. The press release announcing our second quarter earnings, along with our supplemental package were distributed yesterday afternoon. A telephonic replay will be available shortly after the conclusion of the call through Thursday, September 3, 2026. The numbers to access the replay are provided in the earnings press release. For those who listen to the rebroadcast of this presentation, we remind you that the remarks made herein are as of today, August 4, 2026, and will not be updated subsequent to this initial earnings call. During this call, we may make forward-looking statements, including statements related to the future performance of our portfolio, transactions involving our multifamily portfolio, our real estate financing program and our construction business and the use of proceeds from such transactions, our rebranding and the efforts thereof, the consequences of our strategic transformation, our liquidity position as well as comments on our outlook. Listeners are cautioned that any forward-looking statements are based upon management's beliefs, assumptions and expectations taking into account information that is currently available. These beliefs, assumptions and expectations may change as a result of possible events or factors, not all of which are known and many of which are difficult to predict and generally beyond our control. These risks and uncertainties can cause actual results to differ materially from our current expectations, and we advise listeners to review the forward-looking statement disclosure in our press release that we distributed yesterday and the risk factors disclosed in documents we have filed with or furnished to the SEC. We will also discuss certain non-GAAP financial measures, including, but not limited to, FFO, normalized FFO and FFO as adjusted. Definitions of these non-GAAP measures as well as reconciliations to the most comparable GAAP measures are included in the quarterly supplemental package, which is available on our website at ahrealtytrust.com. I will now turn the call over to Shawn.
Shawn Tibbetts: Good morning, and thank you for joining us today. Given our year-to-date results, we are raising our full year 2026 FFO as adjusted guidance range to $0.53 to $0.57 per diluted share. I will discuss where AH Realty Trust stands today, the milestones we achieved this quarter and portfolio highlights before …
