INN: Summit Hotel buys back $6.2M of stock in nine months, $28.4M left
Q3 2026 10-Q: net loss $1.4M vs $9.1M y/y; $28.4M left on buyback; no Q3 repurchases; same-store F&B and other revenue up.
What this filing says
Summit Hotel Properties reported a quarterly report for the period ended September 30, 2026, showing a net loss of $1.4 million for the quarter, down from $9.1 million a year earlier. The company repurchased about 1.48 million common shares for $6.2 million over the first nine months of 2026, with no buybacks in the third quarter, leaving about $28.4 million under its $50 million 2025 repurchase authorization. Food and beverage and other lodging revenues rose in the quarter, helped by same-store gains and by the sale of certain hotels offsetting part of the growth.
Key figures
- Net loss, third quarter
- $1,361 thousand
- Net loss, prior-year third quarter
- $9,100 thousand
- Shares repurchased, nine months
- 1,481,959 shares
- Repurchase cost, nine months
- $6.2 million
- Remaining repurchase authority
- $28.4 million
- Same-store other lodging revenue increase
- $1.7 million
Positive for shareholders
- Net loss narrowed sharply compared with the same quarter last year.
- Same-store food and beverage and other lodging revenues increased in the quarter.
- About $28.4 million remains available for future share buybacks.
Negative for shareholders
- The company still posted a net loss in the quarter.
- Total food and beverage revenue was partly offset by the sale of certain properties.
- Repurchases are at management's discretion and carry no obligation to continue.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Same-store:
- Hotels owned and operated in both periods being compared, so changes reflect operations rather than acquisitions or sales.
- Rule 10b-18:
- An SEC safe harbor that sets conditions on how companies buy back their own shares in the open market.
- Series E and F Preferred Stock:
- Types of preferred shares that pay fixed dividends and rank ahead of common stock for payouts.
FAQ
Did Summit Hotel Properties buy back its own stock this quarter?
No, the filing states there were no repurchases of stock during the three months ended September 30, 2026 or 2025.
How much of the buyback program is still available for Summit Hotel Properties?
As of September 30, 2026, approximately $28.4 million remained available for repurchase under the 2025 Share Repurchase Program.
Why did Summit Hotel Properties' food and beverage revenue rise?
The filing attributes the $0.6 million same-store increase to higher guest demand, partly from a renovation at Courtyard Oceanside Fort Lauderdale Beach, and to menu pricing changes.
Historical context for INN
Across the 20 sessions after earlier INN headlines, the stock closed higher 11 times and lower 9 times, with a median move of 1.7% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | INN | SPY |
|---|---|---|---|
| Nov 4, 2026 | SUMMIT HOTEL PROPERTIES REPORTS THIRD QUARTER 2026 RESULTS | +1.3% | +1.7% |
| Oct 30, 2026 | SUMMIT HOTEL PROPERTIES ANNOUNCES EXECUTIVE LEADERSHIP APPOINTMENTS | -2.1% | -1.8% |
| Oct 28, 2026 | SUMMIT HOTEL PROPERTIES DECLARES THIRD QUARTER 2026 DIVIDENDS | +1.7% | +0.3% |
| Sep 24, 2026 | SUMMIT HOTEL PROPERTIES ANNOUNCES THIRD QUARTER 2026 EARNINGS RELEASE DATE | +0.9% | -0.1% |
| Aug 6, 2026 | SUMMIT HOTEL PROPERTIES REPORTS SECOND QUARTER 2026 RESULTS | -2.1% | -0.2% |
| Jul 29, 2026 | SUMMIT HOTEL PROPERTIES DECLARES SECOND QUARTER 2026 DIVIDENDS | +3.1% | -1.5% |
- Market cap
- 30-day
- Sector
- Real Estate
- Industry
- Real Estate Investment Trusts
- Listed since
- 2011
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