WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Thursday reported fourth-quarter net income of $47.9 million.
The Washington-based company said it had profit of $3.71 per share. Earnings, adjusted for non-recurring gains, came to $3.66 per share.
The rural real estate lender posted revenue of $107.9 million in the period.
For the year, the company reported profit of $207.4 million, or $16.62 per share. Revenue was reported as $410.3 million.
Farmer Mac shares have fallen nearly 1% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $174.04, a decrease of 12% in the last 12 months.
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