Shares in Maguire Properties Inc. dipped 4.6 percent Monday after they were downgraded by Stifel Nicolaus & Co. Inc.

Analyst John Guinee said Monday that the only upside for the Los Angeles the real estate investment trust is a sale or major joint venture and added that even the likelihood of a sale has diminished due to the uncertainty in the current debt capital markets.

Shares in Maguire were down $1.07 to $21.98 in afternoon trading on the New York Stock Exchange. Shares in have lost 36 percent since the beginning of July. Shares in CB Richard Ellis Group Inc. are off 40 percent over the same period and shares in Anworth Mortgage Asset Group are off 36 percent since the end of July.