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Vehicle file · Non-traded REIT

Lodging Fund REIT III, Inc.

What its SEC filings show.

SEC CIK 1745032·Inc. MD·Fiscal year end 12/31·Data as filed · pulled Oct 12, 2026
What this file is.Not a review. Every figure below is the issuer's own number as tagged in its filings to the SEC, unadjusted, with a link to the filing it came from. When a new filing lands, the table updates; when a filing changes something for the people who hold this vehicle, we write it up and link it under Our reads.

Lodging Fund REIT III, Inc. is a non-traded REIT registered with the SEC under CIK 1745032 (incorporated in MD). Its most recent filing is a 4 (insider transaction) dated Oct 8, 2026. As of Dec 31, 2025 it reported total assets of $219.3M (down 21.3% from $278.9M a year earlier) and stockholders' equity of $5.5M. Net income (loss) for the year to Dec 31, 2025 was −$24.4M. It raised $6K from new shares in the year to Dec 31, 2025; paid $13K in distributions in the year to Dec 31, 2025; spent $642K repurchasing shares in the year to Dec 31, 2020. Reported NAV per share: $10.57 as of Dec 31, 2025.

What the figures say together

Our arithmetic on the issuer's own figures, only pairing numbers from the same period or date, and ranked against the 71 other vehicles of this type we track.

  • Liabilities were 96% of total assets at Dec 31, 2025. It ranks 48th of the 51 vehicles of this type that report the same figures (1st = least leveraged).
  • NAV per share moved up 0.0% in a year, from $10.57 to $10.57 (before distributions).

Key figures, as filed.

Balance sheet
FigureLatestPeriodA year earlierChangeSource
Total assets$219.3Mas of Dec 31, 2025$278.9M−21.3%10-K · May 15, 2026
Cash and equivalents$4.9Mas of Dec 31, 2025$2.4M+107.7%10-K · May 15, 2026
Total liabilities$211.5Mas of Dec 31, 2025$238.4M−11.3%10-K · May 15, 2026
Long-term debt$128.7Mas of Dec 31, 2025$175.4M−26.6%10-K · May 15, 2026
Debt (carrying amount)$129.9Mas of Dec 31, 2025$176.8M−26.5%10-K · May 15, 2026
Stockholders' equity$5.5Mas of Dec 31, 2025−$14.1M+138.9%10-K · May 15, 2026
NAV per share$10.57as of Dec 31, 2025$10.57+0.0%10-K · May 15, 2026
Shares outstanding10.0M sharesas of Dec 31, 202510.0M shares+0.0%10-K · May 15, 2026
Shares outstanding (cover page)10.0M sharesas of May 15, 202610.0M shares+0.0%10-K · May 15, 2026
Results and cash flow
FigureLatestPeriodA year earlierChangeSource
Revenues$64.5Myear to Dec 31, 2025$74.2M−13.1%10-K · May 15, 2026
Net income (loss)−$24.4Myear to Dec 31, 2025−$21.7M−12.5%10-K · May 15, 2026
Cash from operations−$3.7Myear to Dec 31, 2025−$854K−333.8%10-K · May 15, 2026
Interest expense$19.6Myear to Dec 31, 2025$17.5M+12.1%10-K · May 15, 2026
Capital raised, distributions and repurchases
FigureLatestPeriodA year earlierChangeSource
Capital raised (common stock issued)$6Kyear to Dec 31, 2025$40K−85.0%10-K · May 15, 2026
Distributions paid$13Kyear to Dec 31, 2025$3.5M−99.6%10-K · May 15, 2026
Shares repurchased0 sharesyear to Dec 31, 20250 shares—10-K · May 15, 2026

Flows (revenues, income, cash, distributions, repurchases) are shown for the period the issuer reported them in, which may be a quarter, a year-to-date span or a full year; “a year earlier” compares only periods of the same length. A vehicle that does not tag a figure in XBRL will not show it here even if the PDF discloses it.

Filing timeline.

The last 25 documents this issuer filed with the SEC. Marked rows are the ones that tend to matter to holders.

Our reads on Lodging Fund REIT III, Inc..

Source: SEC EDGAR, XBRL company facts and filing index for CIK 1745032, retrieved Oct 12, 2026. Figures are reproduced as tagged by the issuer; errors in the source carry through, which is why every row links to the filing. Nothing here is investment advice.

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