WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Thursday reported second-quarter net income of $54.8 million.
The Washington-based company said it had net income of $4.48 per share. Earnings, adjusted for non-recurring gains, were $4.32 per share.
The rural real estate lender posted revenue of $404.9 million in the period. Its adjusted revenue was $100.5 million.
Farmer Mac shares have fallen 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $172, a drop of 2% in the last 12 months.
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