UPDATE: Hilliard Lyons Downgrades AmREIT to Neutral

In a report published Wednesday, Hilliard Lyons downgraded its rating on AmREIT

from Buy to Neutral. Hilliard Lyons noted, “AMRE share price has surpassed our previous $16.00 per share target price. We believe the shares are fairly valued at this time. We are lowering our rating to Neutral based on share price appreciation. Our rating change is based on valuation only, as we still like the fundamentals for AmREIT. AmREIT will report third quarter results after the market closes on November 5.” AmREIT closed on Tuesday at $16.28.