WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Monday reported second-quarter net income of $47.1 million.
On a per-share basis, the Washington-based company said it had profit of $3.68. Earnings, adjusted for non-recurring gains, came to $3.63 per share.
The rural real estate lender posted revenue of $406.2 million in the period. Its adjusted revenue was $89.9 million.
Farmer Mac shares have dropped almost 2% since the beginning of the year. In the final minutes of trading on Monday, shares hit $187.50, a rise of 13% in the last 12 months.
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