Seven Hills Realty Trust (NASDAQ:SEVN) Q2 2023 Earnings Call Transcript August 1, 2023 11:00 AM ET

Company Participants

Kevin Barry - Director of Investor Relations

Tom Lorenzini - President and Chief Investment Officer

Tiffany Sy - Chief Financial Officer and Treasurer

Conference Call Participants

Matthew Erdner - Jones Trading

Chris Muller - JMP Securities

Operator

Good morning, and welcome to Seven Hills Realty Trust's Second Quarter 2023 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will an opportunity to ask questions. Please also note that this event is being recorded today.

I would now like to turn the conference over to Kevin Barry, Director of Investor Relations. Please go ahead, sir.

Kevin Barry

Thank you, and good morning, everyone. Thanks for joining us today. With me on the call are President and Chief Investment Officer, Tom Lorenzini, and Chief Financial Officer and Treasurer, Tiffany Sy. In just a moment, they will provide details about our business and our performance for the second quarter of 2023. We will then open the call to a question-and-answer session with sell-side analysts.

First, I would like to note that the recording and retransmission of today's conference call is strictly prohibited without Seven Hills Realty Trust's prior written consent. Also note that today's conference call contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based on Seven Hill's beliefs and expectations as of today, Tuesday, August 1, 2023, and actual results may differ materially from those that we project. The company undertakes no obligation to revise or publicly release the results of any revision to the forward-looking statements made in today's conference call. Additional information concerning factors that could cause those differences is contained in our filings with the Securities and Exchange Commission or SEC, which can be accessed from the SEC's website. Investors are cautioned not to place undue reliance upon any forward-looking statements.

In addition, we will be discussing non-GAAP numbers during this call, including adjusted distributable earnings and adjusted distributable earnings per share. A reconciliation of GAAP to non-GAAP financial measures can be found in our earnings release presentation that we issued last night, which can be found on our website, sevnreit.com.

I will now turn the call over to Tom.

Tom Lorenzini

Thank you, Kevin. Good morning, everyone, and thank you for joining the call today. Last night, we announced strong second quarter results that reflected continued progress across many areas of our business. At the same time, we continue to navigate a period of unsettled market conditions and commercial real estate volatility.