LVPR (Lightstone Value Plus Real Estate Investment Trust II) Beneish M-Score : -2.87 (As of Apr. 14, 2025)

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What is Lightstone Value Plus Real Estate Investment Trust II Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Lightstone Value Plus Real Estate Investment Trust II's Beneish M-Score or its related term are showing as below:

LVPR' s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.67 Max: -0.26
Current: -2.87

During the past 13 years, the highest Beneish M-Score of Lightstone Value Plus Real Estate Investment Trust II was -0.26. The lowest was -3.00. And the median was -2.67.

Lightstone Value Plus Real Estate Investment Trust II Beneish M-Score Historical Data

The historical data trend for Lightstone Value Plus Real Estate Investment Trust II's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Lightstone Value Plus Real Estate Investment Trust II Beneish M-Score Chart

Lightstone Value Plus Real Estate Investment Trust II Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-0.26

-2.62

-2.40

-3.00

-2.87

Lightstone Value Plus Real Estate Investment Trust II Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-3.00	-2.92	-2.59	-2.91	-2.87

Competitive Comparison of Lightstone Value Plus Real Estate Investment Trust II's Beneish M-Score

For the REIT - Hotel & Motel subindustry, Lightstone Value Plus Real Estate Investment Trust II's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Lightstone Value Plus Real Estate Investment Trust II's Beneish M-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Lightstone Value Plus Real Estate Investment Trust II's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Lightstone Value Plus Real Estate Investment Trust II's Beneish M-Score falls into.

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Lightstone Value Plus Real Estate Investment Trust II Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Lightstone Value Plus Real Estate Investment Trust II for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9096

0.528 * 0.9886

0.404 * 1.03

0.892 * 0.9104

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0167

4.679 * -0.042666

0.327 * 1.0793

-2.87

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was $2.65 Mil.
Revenue was 12.109 + 12.136 + 13.935 + 10.648 = $48.83 Mil.
Gross Profit was 2.835 + 2.886 + 4.584 + 1.944 = $12.25 Mil.
Total Current Assets was $44.93 Mil.
Total Assets was $193.90 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.85 Mil.
Selling, General, & Admin. Expense(SGA) was $4.10 Mil.
Total Current Liabilities was $8.06 Mil.
Long-Term Debt & Capital Lease Obligation was $101.18 Mil.
Net Income was -1.381 + -1.285 + 0.418 + -2.554 = $-4.80 Mil.
Non Operating Income was 0.5 + 0.635 + 0.791 + 0.305 = $2.23 Mil.
Cash Flow from Operations was 0.862 + 0.713 + 0.542 + -0.877 = $1.24 Mil.

Total Receivables was $3.19 Mil.
Revenue was 11.712 + 12.592 + 15.345 + 13.983 = $53.63 Mil.
Gross Profit was 2.695 + 2.927 + 4.114 + 3.565 = $13.30 Mil.
Total Current Assets was $53.22 Mil.
Total Assets was $209.44 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.66 Mil.
Selling, General, & Admin. Expense(SGA) was $4.43 Mil.
Total Current Liabilities was $8.51 Mil.
Long-Term Debt & Capital Lease Obligation was $100.82 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(2.645 / 48.828)	/	(3.194 / 53.632)
	=	0.05417	/	0.059554
	=	0.9096

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(13.301 / 53.632)	/	(12.249 / 48.828)
	=	0.248005	/	0.25086
	=	0.9886

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (44.931 + 0) / 193.9)	/	(1 - (53.222 + 0) / 209.439)
	=	0.768277	/	0.745883
	=	1.03

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	48.828	/	53.632
	=	0.9104

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(6.659 / (6.659 + 0))	/	(5.846 / (5.846 + 0))
	=	1	/	1
	=	1

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(4.097 / 48.828)	/	(4.426 / 53.632)
	=	0.083907	/	0.082525
	=	1.0167

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((101.183 + 8.061) / 193.9)	/	((100.82 + 8.506) / 209.439)
	=	0.563404	/	0.521994
	=	1.0793

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(-4.802 - 2.231	-	1.24)	/	193.9
	=	-0.042666

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Lightstone Value Plus Real Estate Investment Trust II has a M-score of -2.87 suggests that the company is unlikely to be a manipulator.

Lightstone Value Plus Real Estate Investment Trust II Beneish M-Score Related Terms

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Lightstone Value Plus Real Estate Investment Trust II Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Lightstone Value Plus Real Estate Investment Trust II Inc (GREY:LVPR) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

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Address

1985 Cedar Bridge Avenue, Suite 1, Lakewood, NJ, USA, 08701

Website

http://www.lightstonecapitalmarkets.com

Lightstone Value Plus Real Estate Investment Trust II Inc is established as a REIT for engaging in the business of investing in and owning commercial, residential, and hospitality properties located principally in North America, as well as other real estate-related investments. The company focuses on investing in residential and commercial properties, not being limited to any number, size, or geographical location of any real estate assets and holding each property for seven to ten years. Revenue generated by the company is comprised of revenues from the operations of hotels.

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