5 New Stock Picks of Brian Higgins’ King Street Capital

3. Highwoods Properties, Inc. (NYSE:HIW)

King Street Capital’s Stake Value: $15,351,000

Percentage of King Street Capital’s 13F Portfolio: 1.29%

Number of Hedge Fund Holders: 19

Highwoods Properties, Inc. (NYSE:HIW) is a new arrival in Brian Higgins’ Q3 portfolio, with his hedge fund buying 350,000 shares of the company, worth $15.3 million, representing 1.29% of the total securities. Highwoods Properties, Inc. (NYSE:HIW) is a real estate investment trust that owns and operates properties in the elite business districts of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa.

Posting its Q3 results on October 26, Highwoods Properties, Inc. (NYSE:HIW) reported a GAAP EPS of $0.69, beating estimates by $0.32. Revenue over the period totaled $195.50 million, up 7.98% year-over-year, exceeding estimates by $1.79 million. 

In the third quarter 2021, 19 hedge funds tracked by Insider Monkey were long Highwoods Properties, Inc. (NYSE:HIW), up from 14 funds in the preceding quarter. Waterfront Capital Partners is the largest Highwoods Properties, Inc. (NYSE:HIW) stakeholder, with 905,109 shares worth $39.6 million. 

Here is what Miller/Howard Investments has to say about Highwoods Properties, Inc. (NYSE:HIW) in its Q1 2021 investor letter:

“We also bought Highwoods Properties (HIW), a REIT that owns office buildings in the Sun Belt that are expected to do well post pandemic.”