The company disposed of 5 consolidated rental properties for $334 million during the six months ended June 30, 2024. This indicates a continued strategy of portfolio optimization.

The company acquired one consolidated rental property for $63.5 million and commenced construction on one partially owned consolidated apartment property. This indicates a balanced approach to growth through both acquisitions and development.

The company invested $60.1 million in unconsolidated development joint venture entities as well as unconsolidated investments in real estate technology funds/companies. This indicates a focus on innovation and strategic partnerships.

The increase in consolidated total NOI is primarily a result of the Company's higher NOI from same store properties, largely due to improvement in same store revenues and the Company's continued focus on same store expense efficiency.

The Company continued to make progress in move-out activity related to delinquent residents. This indicates proactive management in addressing financial risks.

Insurance expenses increased due to higher premiums on property insurance renewal due to conditions in the insurance market that while less difficult than recent years, remain challenging. This indicates management's ability to adapt to external challenges.

The Company has been named as a defendant in a number of cases filed in late 2022 and 2023 alleging antitrust violations by RealPage, Inc. This represents a significant legal risk.

The Company is named as a defendant in a class action in the United States District Court for the Northern District of California filed in 2016 which alleges that the amount of late fees charged by the Company were improperly determined under California law.

The Company is currently evaluating the impact of the new rules on its disclosures. This indicates awareness and proactive approach to emerging regulatory risks.

Positive household formation trends, manageable competitive new supply in our established coastal markets and the overall deficit in housing across the country to buffer the impact on our business from the risks of potential economic weakness

We also see our affluent resident base as being resilient to economic uncertainty, including elevated inflation, due to higher levels of disposable income and lower relative rent-to-income ratios.

During the six months ended June 30, 2024, the Company had strong performance in its operating business, with healthy demand across all of our markets supported by a continuing solid job market and high employment for our target affluent renter demographic.

The increase in consolidated total NOI is primarily a result of the Company's higher NOI from same store properties, largely due to improvement in same store revenues and the Company's continued focus on same store expense efficiency.

Insurance expenses increased due to higher premiums on property insurance renewal due to conditions in the insurance market that while less difficult than recent years, remain challenging.

The Company continued to make progress in move-out activity related to delinquent residents. This indicates proactive management in addressing financial risks.

The company invested $60.1 million in unconsolidated development joint venture entities as well as unconsolidated investments in real estate technology funds/companies. This indicates a focus on innovation and strategic partnerships.

The company disposed of 5 consolidated rental properties for $334 million during the six months ended June 30, 2024. This indicates a continued strategy of portfolio optimization.

The company acquired one consolidated rental property for $63.5 million and commenced construction on one partially owned consolidated apartment property. This indicates a balanced approach to growth through both acquisitions and development.

Repurchased and retired 652,452 Common Shares, at a weighted average purchase price of $58.95 per share, for an aggregate purchased amount of approximately $38.5 million.

The Company is currently evaluating the impact of the new rules on its disclosures. This indicates awareness and proactive approach to emerging regulatory risks.

Positive household formation trends, manageable competitive new supply in our established coastal markets and the overall deficit in housing across the country to buffer the impact on our business from the risks of potential economic weakness

We also see our affluent resident base as being resilient to economic uncertainty, including elevated inflation, due to higher levels of disposable income and lower relative rent-to-income ratios.

Insurance expenses increased due to higher premiums on property insurance renewal due to conditions in the insurance market that while less difficult than recent years, remain challenging.