InvenTrust Properties Corp. (NYSE:IVT) Q4 2022 Earnings Conference Call February 15, 2023 10:00 AM ET

Company Participants

Dan Lombardo - VP, IR

Daniel Busch - President and CEO

Mike Phillips - EVP, CFO and Treasurer

Christy David - EVP, COO, General Counsel and Secretary

Conference Call Participants

Floris van Dijkum - Compass Point

Operator

Thank you for standing by and welcome to InvenTrust's Fourth Quarter 2022 Earnings Conference Call. My name is Emily and I'll 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's 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

Good morning, everyone, and thank you for joining us. In the room with me today 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 up the lines and answer 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 this quarter's earnings materials, which are posted on our Investor Relations website.

With that, it is my pleasure to turn the call over to DJ.

Daniel Busch

Thanks, Dan. Good morning, everyone, and thank you for joining us. The InvenTrust team had a productive 2022, our first full year as a publicly traded company. The simple and focused Sun Belt portfolio and investment strategy is proving out in all aspects of our business. The operations team continues to capitalize on solid leasing demand, while also carefully managing expenses and build out costs associated with a robust leasing pipeline. By year-end, we successfully rotated capital out of Colorado, selling all three properties in the state, leading to further investment in our Sun Belt markets. Lastly, we maintained our disciplined approach to balance sheet management while diversifying our capital sources through the execution of our inaugural private placement.