Benzinga | Aug 23, 2021 12:20PM EDT

Why City Office REIT's Stock Reached A New 52-Week High Today

City Office REIT Inc (NYSE:CIO) shares are trading higher by 19% at $15.36 Monday morning after the company announced the sale of its Life Science assets for $576 million.

RBC Capital analyst Michael Carroll also maintained City Office REIT with an Outperform rating and raised the price target from $16 to $19.

City Office REIT is a real estate investment trust. The company is focused on acquiring, owning and operating office properties located in metropolitan areas in the Southern and Western United States.

City Office REIT has a 52-week high of $15.85 and a 52-week low of $6.12.