Regional Bank Investors Have No Appetite for Hints of Pain
- Axos shares fell after short seller Hindenburg’s report
- Investors have been jittery about banks’ property exposures
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When it comes to commercial real estate, investors in the US banking sector are on edge.
Axos Financial Inc. — the latest target — slumped Tuesday after a short seller took aim at what it called the bank’s “glaring” property loan problems. Bank OZK was hit in May after a Citigroup Inc. report dug into debt on properties such as a sprawling San Diego waterfront complex. And earlier this year, New York Community Bancorp was steeped in a crisis after the bank had to set aside more provisions for real estate loan losses.