04:56 PM EDT, 06/04/2024 (MT Newswires) -- Axos Financial ( AX ) responded to short-seller Hindenburg Research's accusations Tuesday, rejecting assertions it is courting potential problems through its recent embrace of commercial real estate loans.

In a regulatory filing, Axos said the Hindenburg report includes "inaccuracies and innuendo" the present a distorted view of its loan portfolio. The bank said its largest CRE portfolio called Specialty had roughly $5.22 billion in loans at the end of March and that its financial partners provide considerable protection should borrowers run into problems in repayments.

Hindenburg also misstated the size of its commercial real estate portfolio, failing to mention several loans that have been repaid since Q1. The short-seller also overstated how large a share commercial real estate loans comprise overall.

Axos shares were off 1% in extended session, after closing regular trading more than 4% lower.

Price: 49.64, Change: -0.61, Percent Change: -1.21