Inventrust Properties Corporation (NYSE:IVT) Q2 2023 Earnings Conference Call August 1, 2023 9:00 AM ET

Company Participants

Dan Lombardo - VP, IR

DJ Busch - President, CEO, & Director

Mike Phillips - CFO, EVP, & Treasurer

Christy David - COO, EVP, General Counsel, Company Secretary

Dave Heimberger - Chief Investment Officer, SVP

Conference Call Participants

Paulina Rojas - Green Street Advisors

Cesar Bracho - Wells Fargo & Company

Floris van Dijkum - Compass Point

Lizzy Doykan - Bank of America Merrill Lynch

Operator

Thank you for standing by, and welcome to the InvenTrust Second Quarter 2023 Earnings Conference Call. My name is Carla, and I will be your conference call operator today.

Before we begin, I would like to remind our listeners that today's presentation is being recorded, and a replay will be available on the Investors section of the company website at inventrustproperties.com. [Operator Instructions].

I would now like to turn the call over to Mr. Dan Lombardo, Vice President of Investor Relations. Please go ahead, sir.

Dan Lombardo

Thank you, operator. Good morning, everyone, and thank you for attending our call today. Joining me from the event trust team is DJ Busch, President and Chief Executive Officer; Mike Phillips, Chief Financial Officer; Christy David, Chief Operating Officer; and Dave Heimberger, Chief Investment Officer.

Following the team's prepared remarks, we will open the lines for questions. As a reminder, some of today's comments may contain forward-looking statements about the company's views on the future of our business and financial performance, including forward-looking earnings guidance and future market conditions.

These are based on management's current beliefs and expectations and are subject to various risks and uncertainties. Any forward-looking statements speak only as of today's date, and we assume no obligation to update any forward-looking statements made on today's call or that are in the quarterly financial supplemental or press release.

In addition, we will also reference certain non-GAAP financial measures. The comparable GAAP financial measures are included in the quarterly earnings materials, which are posted on our Investor Relations website.

With that, I will turn the call over to DJ.

DJ Busch

Thanks, Dan. And good morning, everyone. The InvenTrust portfolio continues to deliver solid operating results, highlighted by strong leasing activity and record occupancy. Our consistent performance is indicative of our simple and focused strategy, owning and operating premier necessity-based shopping centers in growing Sunbelt markets.

Significant demographic trends continue to be an important tailwind in the Sunbelt, which is experiencing some of the healthiest market rent growth across the US. A major catalyst is the lack of institutional quality retail space across the sector and the absence of meaningful new development.