NXDT (NexPoint Diversified Real Estate Trust) Beneish M-Score: 0.00 (As of Sep. 09, 2026)

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NXDT NexPoint Diversified Real Estate Trust NXDT
34 GF Score
Price $5.41
! 3 Warning Signs
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What is NexPoint Diversified Real Estate Trust Beneish M-Score?

NexPoint Diversified Real Estate Trust NXDT +0.09% 34 Beneish M-Score is 0.00 as of Sep. 09, 2026. GuruFocus rates NXDT with a GF Score™ of 34/100. The stock has 3 warning signs investors should review. Among 741 REITs companies, NexPoint Diversified Real Estate Trust ranks worse than 134952.63% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

The historical rank and industry rank for NexPoint Diversified Real Estate Trust's Beneish M-Score or its related term are showing as below:

During the past 9 years, the highest Beneish M-Score of NexPoint Diversified Real Estate Trust was 0.00. The lowest was 0.00. And the median was 0.00.

NXDT
34GF Score
NexPoint Diversified Real Estate Trust NXDT
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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NexPoint Diversified Real Estate Trust 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 NexPoint Diversified Real Estate Trust for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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.

This Year (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was $4.80 Mil.
Revenue was 16.579 + -4.494 + -17.474 + 3.955 = $-1.43 Mil.
Gross Profit was 16.579 + -4.494 + -17.474 + 3.955 = $-1.43 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1,039.17 Mil.
Property, Plant and Equipment(Net PPE) was $330.07 Mil.
Depreciation, Depletion and Amortization(DDA) was $17.03 Mil.
Selling, General, & Admin. Expense(SGA) was $20.34 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $280.10 Mil.
Net Income was 2.041 + -21.261 + -35.51 + -12.312 = $-67.04 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -4.633 + -0.498 + 1.18 + 0.835 = $-3.12 Mil.
 Total Receivables was $7.87 Mil.
Revenue was -30.969 + -16.264 + 10.788 + 2.668 = $-33.78 Mil.
Gross Profit was -30.969 + -16.264 + 10.788 + 2.668 = $-33.78 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1,110.99 Mil.
Property, Plant and Equipment(Net PPE) was $369.93 Mil.
Depreciation, Depletion and Amortization(DDA) was $16.67 Mil.
Selling, General, & Admin. Expense(SGA) was $18.84 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $319.75 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)
=(4.797 / -1.434) / (7.87 / -33.777)
= /
=

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)
=(-33.777 / -33.777) / (-1.434 / -1.434)
= /
=

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 - (0 + 330.069) / 1039.169) / (1 - (0 + 369.93) / 1110.99)
=0.682372 / 0.667027
=

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
=-1.434 / -33.777
=

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))
=(16.667 / (16.667 + 369.93)) / (17.026 / (17.026 + 330.069))
=0.043112 / 0.049053
=

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)
=(20.34 / -1.434) / (18.84 / -33.777)
= /
=

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)
=((280.1 + 0) / 1039.169) / ((319.745 + 0) / 1110.99)
=0.269542 / 0.287802
=

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
=(-67.042 - 0 - -3.116) / 1039.169
=-0.061516

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
NexPoint Diversified Real Estate Trust (NXDT) has a Beneish M-Score of 0.00 as of Sep. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on NexPoint Diversified Real Estate Trust and its competitors. According to the industry distribution chart, NexPoint Diversified Real Estate Trust ranks #999999 out of 741 companies in the REITs industry.
Is NexPoint Diversified Real Estate Trust's Beneish M-Score too high?
NexPoint Diversified Real Estate Trust's current Beneish M-Score is 0.00. Based on the distribution chart, NexPoint Diversified Real Estate Trust ranks #999999 out of 741 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, NexPoint Diversified Real Estate Trust has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does NexPoint Diversified Real Estate Trust's Beneish M-Score compare to FVR and AHRT?
According to the REITs industry distribution chart, NexPoint Diversified Real Estate Trust ranks #999999 out of 741 companies for Beneish M-Score. This places NexPoint Diversified Real Estate Trust in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a REITs company?
A good Beneish M-Score depends on the REITs industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on NexPoint Diversified Real Estate Trust and its competitors. NexPoint Diversified Real Estate Trust's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NexPoint Diversified Real Estate Trust stock overvalued right now?
NexPoint Diversified Real Estate Trust (NXDT) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. NexPoint Diversified Real Estate Trust's overall GF Score™ is 34/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For NexPoint Diversified Real Estate Trust (NXDT), the current Beneish M-Score is 0.00 as of Sep. 09, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

NexPoint Diversified Real Estate Trust Business Description

Industry Real EstateREITs
Other Exchanges NXDTpA.PFD:USA
Address 300 Crescent Court, Suite 700, Dallas, TX, USA, 75201
NexPoint Diversified Real Estate Trust is an externally advised REIT focused on the acquisition, asset management, development, and disposition of opportunistic, value-add investments in real estate properties throughout the United States. The company has two reportable segments: The Diversified reportable segment is focused on investing in various commercial real estate property types and across the capital structure, including but not limited to, equity, mortgage, debt, mezzanine debt and preferred equity. The Hospitality segment is focused on operating and renovating its U.S. located hospitality assets that meet its investment objective and criteria. Its Portfolio includes investments in the single-family rental, self-storage, office, hospitality, life science and multifamily sectors.
34GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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