WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Monday reported second-quarter profit of $47.2 million.
The Washington-based company said it had net income of $3.70 per share. Earnings, adjusted for non-recurring costs, were $3.86 per share.
The rural real estate lender posted revenue of $349.7 million in the period. Its adjusted revenue was $84.5 million.
Farmer Mac shares have increased 47% since the beginning of the year. The stock has increased 52% in the last 12 months.
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