Claros Mortgage Trust, Inc. (NYSE:CMTG) Q3 2024 Results Conference Call November 8, 2024 10:00 AM ET

Company Participants

Anh Huynh - VP, IR
Richard Mack - CEO and Chairman
Mike McGillis - President and CFO

Conference Call Participants

Doug Harter - UBS
Rick Shane - JPMorgan
Steve DeLaney - Citizens, JMP
Jade Rahmani - KBW

Operator

Welcome to Claros Mortgage Trust's Third Quarter 2024 Earnings Conference Call. My name is Bridget, and I will be your conference facilitator today. All participants will be in a listen only mode. [Operator Instructions].

I would now like to hand the call over to Anh Huynh, Vice President of Investor Relations of 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 and Chief Financial Officer and Director of Claros Mortgage Trust. We also have 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, 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 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

Thank you, Anh, and thank you everyone for joining us this morning for CMTG's third quarter earnings call. James Carville famously quipped in 1992, It's the economy stupid as to how Clinton would and did unseat the elder bush. In 2024, one might say that it was inflation stupid or Donald Trump's promise to tame it that brought him back to the White House.

The question however is are the President-elect stated policies actually more inflationary than Democratic Party proposals or will those proposals be escalated down in favor of more anti-inflation business friendly policies. Right now, it seems that Wall Street believes that our new and previous President will bring prosperity if not deflation. If it can bring both that will see a boon to commercial real estate, we just had a tough run for the last few years.