NYC’s multifamily lenders see shares tumble in 2020

Despite assurances that rent collections have remained strong, share prices for community banks in New York have plummeted. Since the beginning of the year, New York Community Bank, Signature Bank and M&T Bank have seen their shares fall 30, 39, and 46 percent respectively, Bloomberg reported. The declines come as few of New York City’s workers return to the office, uncertainty over the reopening schools persists and restaurants struggle to stay open. The community banks

source https://therealdeal.com/2020/09/24/nycs-multifamily-lenders-see-shares-tumble-in-2020/