Claros Mortgage Trust, Inc. (NYSE:CMTG) Q4 2023 Earnings Conference Call February 21, 2024 11:00 AM ET

Company Participants

Ann Huynh - VP, IR

Richard Mack - CEO & Chairman

Mike McGillis - President, CFO & Director

Priyanka Garg - EVP, Portfolio & Asset Management

Conference Call Participants

Rick Shane - JPMorgan Chase & Co.

Douglas Harter - UBS Group

Sarah Barcomb - BTIG

Jason Sabshon - KBW

Operator

Hello, everyone, and welcome to Claros Mortgage Trust Fourth Quarter 2023 earnings conference call. My name is Bruno, and I'll be your conference facilitator today. [Operator Instructions]. I would now like to hand over the call to Ann Huynh, Vice President of Investor Relations for Claros Mortgage Trust. Please proceed.

Ann Huynh

Thank you. I'm joined by Richard Mack, Chief Executive Officer and Chairman of Claros Mortgage Trust, and Mike McGillis, President and Chief Financial Officer and Director of Claros Mortgage Trust. We also have Kevin Cullinan, the Executive Vice President who leads MRECS Originations; and Priyanka Garg, Executive Vice President, who leads MRECS Portfolio and Asset Management.

Prior to this call, we distributed CMTG's earnings release and supplement. We encourage you to reference these documents in conjunction with the information presented on today's call. If you have any questions following today's call, please contact me.

I'd like to remind everyone that today's call may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in our other filings with the SEC. Any forward-looking statements made on this call represent our views only as of today, and we undertake no obligation to update them.

We will also be referring to certain non-GAAP financial measures on today's call, such as distributable earnings, which we believe may be important to investors to assess our operating performance. For the reconciliations of non-GAAP measures to their nearest GAAP equivalent, please refer to the earnings supplement.

I would now like to turn the call over to Richard.

Richard Mack

Good morning, and thank you for joining us for CMTG's fourth quarter earnings call. What a difference a year makes. Or at least that's how it seems, as markets commenced 2024 with optimism. Even CMBS spreads rallied, as investors enthusiastically purchased bonds in anticipation of imminent rate cuts and a CRE market bottom.