Reading Between the Lines
Dividend Capital Total Realty Trust released an 8-K on Monday stating that it is closing its offering period on September 30th, about four months early. The REIT has too much cash ($540 million) and can't find enough property. Here is the key takeaway:

As of July 31, 2009, we held cash and cash equivalents in excess of $540 million. We believe that this strong cash balance is critical in the current market and positions us well to take advantage of investment opportunities in the future. However, severe market dislocation and current dysfunction in the credit markets has resulted in historically low commercial real estate transaction volume. As a result, opportunities to deploy our capital have not been as quick to emerge. In addition, and in light of market conditions, we have attempted to be prudent in the deployment of capital, which also has resulted in a slower pace of investments. In the meantime, our cash balance has a significant dilutive effect on our goal of funding the payment of quarterly distributions to you entirely from our operations over time.

I added the italics. I read that last sentence as a set-up for a distribution cut in the near future.