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Strategic Hotels’ Shares Rise Above 2008 Levels

Strategic Hotels’ Shares Rise Above 2008 Levels

While most hotel companies saw very positive gains in 2013, buoyed by strong fourth-quarter results, Strategic Hotels has had a better-than-expected trajectory.

According to this report from Crain’s Chicago Business the Chicago-based real estate investment trust reported funds from operations of 14 cents a share in the fourth-quarter, up from 6 cents a year earlier. Those results beat out most analysts estimates of 12 cents.

Business Week reports that Strategic shares rose as much as 6.8 percent, or 65 cents, on Feb. 26, to $10.22. They closed at $9.82, up 2.6 percent. The stock price has not been that high since the 2008 collapse. Strategic shares generated the biggest return among shares in all 10 Chicago-area REITs last year.

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