Federal Agricultural Mortgage Class A

AGM.A

Market cap $1.45B

I initiated a position in Federal Agricultural Mortgage Corporation (AGM) preferreds, specifically series F, due to an attractive yield and relative value. AGM preferreds currently offer a yield north of 6.8%, about 2% above the 30-year Treasury, with spreads wider than historical norms. I see the recent spread as a sentiment-driven opportunity, not a sign of fundamental stress, given the farm sector's low leverage and AGM's strong loan-to-value metrics.

WASHINGTON , Dec. 8, 2025 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure, today announced the appointment of Matthew M. Pullins as its Executive Vice President – Chief Financial Officer and Treasurer, starting December 11, 2025.

WASHINGTON , Dec. 3, 2025 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure, announced today that it has completed a $313.5 million securitization of agricultural mortgage loans. "The successful completion of our seventh agricultural mortgage-backed securitization demonstrates our commitment to grow our securitization platform and support a vibrant and liquid AMBS market that is central to our core mission to improve credit accessibility in rural America," said Chief Executive Officer, Brad Nordholm.

Farmer Mac delivered strong Q3 results, with net interest income up 13% and robust dividend coverage. AGM maintains manageable loan loss provisions, supported by low loan-to-value ratios and resilient collateral monetization. I remain bullish on AGM common shares, citing attractive valuation, solid earnings, and ongoing share buybacks.

- Outstanding Business Volume of $31.1 Billion - WASHINGTON , Nov. 3, 2025 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure, today announced its results for the fiscal quarter ended September 30, 2025. "I'm pleased to announce we've once again achieved record net effective spread and core earnings in the third quarter," said Chief Executive Officer, Brad Nordholm.

WASHINGTON , Oct. 20, 2025 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure, today announced that it will release its financial results for the fiscal quarter ended September 30, 2025, on Monday, November 3, 2025, after the close of equity markets.

Federal Agricultural Mortgage presents an attractive opportunity after a 20% share price drop, supported by strong loan performance and low charge-offs. AGM's Q2 earnings easily cover preferred dividends, with only 10% of net profit required, and the common dividend remains well-covered. The loan portfolio remains healthy, with low non-accruing loans and an average LTV below 50%, minimizing risk even in defaults.

WASHINGTON , Sept. 25, 2025 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac; NYSE: AGM and AGM.A), the nation's secondary market provider that increases the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure, announced today the planned retirement of its Chief Executive Officer Bradford T.

WASHINGTON , Sept. 10, 2025 /PRNewswire/ -- The board of directors of the Federal Agricultural Mortgage Corporation (Farmer Mac) has declared a dividend on the company's recently issued 6.500% Non-Cumulative Preferred Stock, Series H (NYSE: AGM.PR.H) (the "Series H Preferred Stock").

Federal Agricultural Mortgage Corporation, aka Farmer Mac, has posted steady earnings and continues to benefit from strong asset yields and low credit losses. New loan demand is softer, but the company's role in rural finance remains essential to the market. The dividend has grown for 14 straight years, and capital levels remain strong. Buybacks have been authorized but not yet activated.