American Financial Group, Inc. (NYSE:AFG) Q1 2024 Earnings Call Transcript

Craig Lindner: Yes. I mean, if you look over a long period of time, there — actually, the multifamily returns have been very predictable. We obviously have been in a somewhat unusual environment here in the last six, nine months with a very large increase in interest rates. The operating income of the multifamily properties continues very strong. We’re very pleased with the performance, but cap rates have moved up because of an increase in interest rates.

Michael Zaremski: Okay, that’s all I have. Appreciate it.

Operator: Thank you. I would now like to turn the conference back to Diane Weidner for closing remarks. Madam?

Diane Weidner: Thank you all for joining us today as we discussed our first quarter results. We look forward to talking to you again next quarter, and hope you all have a great day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.