Farmer Mac to redeem outstanding series C preferred stock
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 17 2024
0mins
Source: SeekingAlpha
- Federal Agricultural Mortgage Corporation Announcement:
- Farmer Mac intends to redeem all outstanding 3 million shares of its 6.000% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series C.
- The redemption price is set at $25.00 per share, with the redemption date scheduled for July 18, 2024.
- Any declared and unpaid dividends up to the redemption date will be included in the redemption price.
- After the redemption date, dividends on the Series C Preferred Stock will no longer accrue.
- Additional Information on Federal Agricultural Mortgage:
- AGM offers stable earnings and above-average growth prospects.
- Insights from Q1 2024 Earnings Call Transcript and Earnings Preview are available.
- The company is described as having an ultra-safe dividend growth potential with double-digit upside.
- Seeking Alpha's Quant Rating provides further analysis on Federal Agricultural Mortgage.
Analyst Views on AGM.A
Wall Street analysts forecast AGM.A stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AGM.A is 219.00 USD with a low forecast of 219.00 USD and a high forecast of 219.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 129.000
Low
219.00
Averages
219.00
High
219.00
Current: 129.000
Low
219.00
Averages
219.00
High
219.00
About AGM.A
Federal Agricultural Mortgage Corporation is a stockholder-owned, federally chartered corporation that combines private capital and public sponsorship to serve a public purpose. The Company’s secondary market provides liquidity to its agricultural and infrastructure businesses, supporting rural America. The Company’s segments include Farm & Ranch, Corporate AgFinance, Power & Utilities, Broadband Infrastructure, Renewable Energy, Funding, and Investments. The Farm & Ranch segment includes the USDA securities portfolio, Farm & Ranch loans, and AgVantage securities. The Corporate AgFinance segment includes loans and AgVantage securities to larger and more complex farming operations, agribusinesses focused on food and fiber processing, and other supply chain production. The Power & Utilities segment includes loans to rural electric generation and transmission cooperatives and distribution cooperatives, as well as AgVantage securities secured by those types of loans.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
