WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Tuesday reported first-quarter net income of $59.1 million.
The Washington-based company said it had profit of $4.75 per share. Earnings, adjusted for non-recurring gains, came to $4.74 per share.
The rural real estate lender posted revenue of $109.9 million in the period.
Farmer Mac shares have decreased nearly 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $172.58, a drop of slightly more than 2% in the last 12 months.
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