SL Green raises share expectations

Marc Holliday

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SL Green Realty CEO Marc Holliday is feeling optimistic. The commercial real estate behemoth has raised its performance expectations for 2010, predicting that earnings per share could hit as much as $4.75 by the end of the year. The company’s previous earnings guidance suggested that earnings per share would reach anywhere between $3.90 and $4.10 by 2010‘s end. Holliday said that recent events have influnced his company’s outlook. “The repayment of our loans in connection with the sale of 510 Madison Avenue marks the conclusion of one of SL Green’s most successful debt investments to date,” Holliday said, noting that gradually stabilizing market conditions have also shaped his outlook. “We are pleased with the steady improvement of the New York City office market in 2010, both on the leasing and investment fronts.” TRD