Claros Mortgage Trust, Inc. (NYSE:CMTG) Q2 2024 Earnings Conference Call August 6, 2024 10:00 AM ET

Company Participants

Anh Huynh - VP, IR
Richard Mack - CEO and Chairman
Mike McGillis - President and CFO
Priyanka Garg - EVP, Portfolio and Asset Management

Conference Call Participants

Rick Shane - JPMorgan
Doug Harter - UBS
Tom Catherwood - BTIG
Jade Rahmani - KBW

Operator

Welcome to the Claros Mortgage Trust Second Quarter 2024 Earnings Conference Call. My name is Jacquetta and I will be your conference facilitator today. All participants are in a listen-only mode. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the call over to Anh Huynh, Vice President of Investor Relations for Claros Mortgage Trust. Please proceed.

Anh Huynh

Thank you. I'm joined by Richard Mack, Chief Executive Officer and Chairman of Claros Mortgage Trust; and Mike McGillis, President, Chief Financial Officer and Director of Claros Mortgage Trust. We also have Priyanka Garg, Executive Vice President, who leads MREG 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, 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 a reconciliation 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

Thank you, Anh and thank you everyone for joining us this morning for CMTG's second quarter earnings call. It's been more than two years since the Fed started raising interest rates in response to rising inflation. And it's not been an easy run for the commercial real estate industry to say the least. When we take a step back and look at the broader picture, we can see many variables at play.