UPDATE: Stifel Nicolaus Downgrades Cousins Properties to Hold on Leasing Headwinds

Stifel Nicolaus reduced its rating on Cousins Propertie

from Buy to Hold and removed its previous $9 price target on shares. Stifel Nicolaus said, "Despite the positives arising from the company re-balanacing, we believe CUZ still faces significant leasing hurdles across the portfolio, specifically at 191 Peachtree Tower, The American Cancer Society Center, and the Promenade. … Due to the anticipated leasing headwinds, current 84.6% occupied portfolio, and strong outperformance in 2012, we are downgrading CUZ to a Hold. We are supportive of management to continue to execute their strategic portfolio repositioning and balance sheet cleanup." Cousins Properties closed at $8.18 on Tuesday.