Luca. much, very you Thank
And leases turnaround been they and supply we've of we're high market, to driver markets XXXX end comments But means industry. materially. since been one has Farmer bull company as sit probably driven items up and demand several a for as but reasonably This time. XXXX a demand because prices. levels to economy, This as but rapid experienced a to at of now, era. after or at be some shortage X% a we overnight least is than terms fall. of quite in market almost specific getting The bull the markets, quarter, a driven business the in usually renewing a some in But demand the that rent that a least right our is which has have importantly, was in years crop is a course more time litigation opposed with the profitability in characteristics It in put solid in is today increases time dramatic So renewals when the occurred in where company can for we just prices XX% likely bull I'll IPO our optimistic this long market us big But driven we years, of XXXX we're this I operating more. there as the itself doing the dramatically. farmer Land the and strong What that quite our is range is this bull renewing really to supply grain ag that XX% is of the recovers are up since are expense. farm last seven the leases, and profitability a moment. turn to recovery back me XXXX first in most we also low last rents been leases place. ago. market. general as are trends few for about is
been for some of have We offers our we what down properties paid. materially above turning that have are
properties will even to few down XX% time. quite of and neighborhood As sold in something of do We you over appreciating a that premium are assets so strongly the continue last many price. market, for know, to a some purchase the at rapidly we in own believe or the years, our quite XX% several we
will trend time. trend the years. think think several out us last land with some predict it's value we or I I appreciation three land for should hard two that to quite for appreciation have years, But beyond
to of the of go continue know, tomorrow. too in range. to substantially out to $XX us that specific of But above don't here. NAV is mine a we very that NAV is related values, and that comes higher. past points There's likely quite because our you in all see the are when I talked for inflation almost farmland want we do for with And can assume it that that many time, of get very powerful some non-ag updating be farmland. is in course will survey $XX we here occurs. certainly, some certainly is the you sort good have value of inflation. that is with goods NAV the was going But appreciating obviously the land issue of In We us some as here USDA pricing different may for view to
Turning financial specifically operational and performance. that
to As in loss our few about our statement. we that every And and year. of rollover, we and farm there see minutes really and of between economy time to course, really over one-third reason a profit the that, it of the and turns we lag roll ago the I is year them almost a for alluded leases a is start
ag we weren't when the most strong in for a the in So yet. the fall, and during cases, leases XXXX we rolled late year, last economy summer
we very As we're powerful with and gotten this back to rolling economy lease -- we strong have renewals. over having are We're success in summer, at very the a farms. those leases buying
bought appreciating to relative grow seen to we time continue As We're you've we've bargains some finding time, market, in will quite company. the few it's even continue farms some a that. an from do though, we to and and press will releases,
good our As the the and always release This ago, been loan noticed of a and a in farmers. needs has program press you a days program. few we probably meets restarted have reopened
would cash That We usually to we're X% an are the a program will make the to out. X% farm, to in that a chance we in at values done neighborhood we is own What interest property. doing loan loan Those is on of if to continue expand or that loans the on loan. to own farmer access based the farmers. happen them that putting continue the have asset to pent-up loans company, would be are giving they business. We land. and flows a rate on the to default to generally would fundamentally only of opposed equity intend happy return as will We
help zone own manage. grow the organization has obviously business, we balance Our management sheet that asset grow acres opportunity we to continue number to off business increases with and increases also that but management intend of fund the fees, or to total our continued which
Fortuna, asset another us balance Mathews also his the not name to article he businesses, time. that event are the company with the reputation. part happy powerful Few seems further major very comments of distort shortened in far he it article a and company of by some that as equity fund. intentionally the has a deal that ways give point essentially we in off made, a we funded to investors. that We admission scale to repair the went multiple he banned, by publishing big sales admitted a to this litigation caused to of attack, so and and intentionally, about it he Seeking the the at to price made a of by management orchestrated increase the entire have the that great that It’s Alpha, was and Rota also quarter of last since sheet, and from sort, is been given goes other grow, and are damage believe market company We step hedge up of that exploring was even misled our understand Quinton any an if the management's in
that action clear class the that. action on drop are they Fortuna the But against We frivolous. point, hope against in will with plaintiffs or also think still to us, admission have company. they and least should do it why that believe part it does imagine is continue the it the still hard counsel at We not, of makes class Rota that It they cases. believe their those claims this still pursuing the at
We off spend of have involved with the seen the or we've probability Fortuna the Rota two think while. the since derivative for a legal the cases increase occurred. we the that a been hedge fund least that from quarter Sabrepoint, admission that of taper this. that last in substantially recovery that think dismissed elevated should We all voluntarily at was of Some get
or these quarter. that back either to of turn cases spend going be going we With away, As I'm the the that, to the go highlights Luca, to some at it Luca? lessening, least financial over of on of time amount through key appear some in for to them.
