Earnings Call Excerpt
Liberty Property Trust (LRY)
Q3 2009 Earnings Call
October 27, 2009 1:00 pm ET
Executives
Jeanne Leonard - Investor Relations
Bill Hankowsky - Chief Executive Officer
George Alburger - Chief Financial Officer
Rob Fenza - Chief Operating Officer
Michael Hagan - Chief Investment Officer
Analysts
Sloan Bohlen - Goldman Sachs
Jordan Sadler - KeyBanc Capital
Chris [Catten] – Morgan Stanley
Alexander Goldfarb - Sandler O'Neill
John Guinee - Stifel
Brendan Maiorana – Wells Fargo
Dave Aubuchon – Robert W. Baird
John Stewart – Green Street Advisors
Michael Bilerman – Citi Financial
Stephen Kim - Macquarie
Dan Donlan – Janney Montgomery Scott
Michael Odell – AIG
Presentation
Operator
Welcome everyone to the Liberty Property Trust third quarter earnings conference call. (Operator Instructions) Ms. Leonard, you may begin your conference.
Jeanne Leonard
Thank you Kim and thank you everyone for tuning in to our third quarter results conference call coming to you live from the home of the repeating World Champion Philadelphia Phillies. Today you will hear prepared remarks from Chief Executive Officer, Bill Hankowsky; Chief Executive Officer, George Alburger and Chief Operating Officer, Rob Fenza. Our Chief Investment Officer, Mike Hagan is also present for any questions you may have.
During this call, management will be referring to our quarterly supplemental information package. You can access this package, as well as the corresponding press release on the investor’s section of Liberty’s website at www.libertyproperty.com. In this package and the press release you will also find a reconciliation of non-GAAP financial measures we reference today to GAAP measures.
I will also remind you that some of the statements made during this call will include forward-looking statements within the meaning of federal securities law. Although Liberty believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that these expectations will be achieved. As forward-looking statements, these statements involve risks and uncertainties and other factors that could cause actual results to differ materially from the expected results; risks that were detailed in the issued press release and from time-to-time in the company’s filings with the Securities and Exchange Commission. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Bill would you like to begin?
Bill Hankowsky
Thank you Jeanie and good afternoon everyone. I’m going to cover three topics in my opening remarks; (1) A report on the third quarter; (2) our view of where the economy and the real estate markets and where they will be in 2010; (3) provide you with our guidance for 2010.
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