SCHEDULE 13G/A: Cohen & Steers Amends Stake in Highwoods Properties, Disclosing 13.9% Passive Ownership

Cohen & Steers, Inc. and its affiliates have filed an amended Schedule 13G, reporting a 13.9% beneficial ownership stake in Highwoods Properties, Inc. as of March 31, 2025, held for investment purposes.

Summary

• Cohen & Steers, Inc. and its subsidiaries (Cohen & Steers Capital Management, Inc., Cohen & Steers UK Ltd, Cohen & Steers Asia Ltd, and Cohen & Steers Ireland Limited) are the reporting persons.
• The reporting persons collectively beneficially own 14,979,525 shares of Highwoods Properties, Inc. common stock.
• This ownership represents 13.9% of the class of securities of Highwoods Properties, Inc.
• The filing is an Amendment No. 6 to a Schedule 13G, indicating previous filings have been made.
• The shares are certified to be held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• Cohen & Steers, Inc. holds sole voting power over 11,781,779 shares and sole dispositive power over 14,979,525 shares.
• Subsidiaries like Cohen & Steers Capital Management, Inc., Cohen & Steers UK Ltd., Cohen & Steers Asia Ltd., and Cohen & Steers Ireland Ltd. hold securities for the benefit of their respective account holders, who retain the right to receive dividends or proceeds from the sale of these securities.

Sentiment

Score: 7

Explanation: The filing indicates a significant and stable passive investment by a major institutional asset manager, which is generally a positive signal for the issuer. No negative information about the issuer's operations or financial health is present in this ownership disclosure.

Positives

• A significant institutional investor, Cohen & Steers, maintains a substantial passive stake (13.9%) in Highwoods Properties, indicating continued confidence in the company as an investment.
• The explicit statement that the holding is for ordinary course of business and not for control suggests stability in the ownership structure, reducing concerns about activist investor intervention.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance from Highwoods Properties, Inc. as it is a disclosure of beneficial ownership by an external investment firm.

Industry Context

This filing highlights continued institutional interest in the U.S. REIT sector, with a specialized real estate investment manager like Cohen & Steers maintaining a significant passive stake in Highwoods Properties. This indicates that large, income-focused investors continue to see value in established real estate companies.

Stakeholder Impact

• Shareholders: Provides transparency on a significant institutional holding, potentially reinforcing confidence in the company's long-term investment appeal.
• Management: Awareness of a large, passive institutional investor in their shareholder base, which typically implies a stable and long-term oriented shareholder.

Key Dates

Recommendation

Keywords

Highwoods Properties, Cohen & Steers, Schedule 13G, Beneficial Ownership, Real Estate Investment Trust, REIT, Institutional Investor, Common Stock, SEC Filing