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.
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