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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 -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for United Hampshire US REIT's Beneish M-Score or its related term are showing as below:
UNHRF'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.65 Med: -2.33 Max: -2.2
Current: -2.33
During the past 9 years, the highest Beneish M-Score of United Hampshire US REIT was -2.20. The lowest was -2.65. And the median was -2.33.
United Hampshire US REIT Beneish M-Score Related Terms
United Hampshire US REIT Beneish M-Score Historical Data
* 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.
For the REIT - Retail subindustry, United Hampshire US REIT'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.
United Hampshire US REIT Beneish M-Score vs REITs Industry
For the REITs industry and Real Estate sector, United Hampshire US REIT's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where United Hampshire US REIT's Beneish M-Score falls into.
United Hampshire US REIT 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 United Hampshire US REIT 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 * 1.3147
+
0.528 * 1.0139
+
0.404 * 1.0229
+
0.892 * 0.9845
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0411
+
4.679 * -0.027534
-
0.327 * 1.0247
=
-2.33
* 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.
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.
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))
=
(0 / (0 + 0))
/
(0 / (0 + 0))
=
/
=
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
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
=
(20.651 - 0
-
43.416)
/
826.781
=
-0.027534
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.
United Hampshire US REIT has a M-score of -2.33 suggests that the company is unlikely to be a manipulator.
United Hampshire US REIT (UNHRF) has a Beneish M-Score of -2.33 as of Jul. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on United Hampshire US REIT and its competitors. According to the industry distribution chart, United Hampshire US REIT ranks #477 out of 754 companies in the REITs industry, placing it in the top 63.3%.
Is United Hampshire US REIT's Beneish M-Score too high?
United Hampshire US REIT's current Beneish M-Score is -2.33. Based on the distribution chart, United Hampshire US REIT ranks #477 out of 754 companies in the REITs industry, which is below the industry midpoint. Overall, United Hampshire US REIT has a GF Score™ of 38/100, reflecting its overall financial health beyond just this single metric.
How does United Hampshire US REIT's Beneish M-Score compare to SPG and O?
According to the REITs industry distribution chart, United Hampshire US REIT ranks #477 out of 754 companies for Beneish M-Score. This places United Hampshire US REIT 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 United Hampshire US REIT and its competitors. United Hampshire US REIT's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Hampshire US REIT stock overvalued right now?
United Hampshire US REIT (UNHRF) has a current Beneish M-Score of -2.33. The stock's GF Value™ is $0.46, compared to a current price of $0.51 — trading 10.9% above its estimated fair value. The current Beneish M-Score is -2.33. United Hampshire US REIT's overall GF Score™ is 38/100 with 12 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 United Hampshire US REIT (UNHRF), the current Beneish M-Score is -2.33 as of Jul. 21, 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.
Is United Hampshire US REIT (UNHRF) Overvalued in 2026?
Based on GuruFocus' analysis, United Hampshire US REIT stock appears to be overvalued.
The current stock price of $0.51 is trading 10.9% above its estimated GF Value™ of $0.46.
Key valuation signals for UNHRF:
Beneish M-Score: -2.33
GF Value™: $0.46 vs. price of $0.51 (10.9% above fair value)
No single metric tells the full story. See the UNHRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
United Hampshire US REIT is a REIT investing in a diversified portfolio of stabilized income-producing grocery-anchored and necessity-based retail properties, and modern, climate-controlled self-storage facilities, located in the United States of America. The company's objectives are to provide unitholders with regular and stable distributions and to achieve long-term growth in distribution per unit and net asset value per unit while maintaining an appropriate capital structure. The group's reportable operating segments are Grocery and Necessity Properties; and Self-Storage Properties. The company generates a majority of its revenue from the Grocery and Necessity Properties segment.
38GF Score
Get the complete analysis for UNHRF
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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