Much of yesterday's move was short covering. Today, new shorts are moving in. Favorable economic news this morning indicates that tapering may be nearer than most thought yesterday. After some stockholders slept on yesterdays news, they realized that they had just dodged a bullet, and decided to sell today.
If you use the logic that this REIT will cut their div like the others did yesterday, then obviously that would explain why cautious/nervous investors are bailing out of this before any pending divy announcement.
If you're optimistic that there will be little to no div cut, then perhaps you will be rewarded with another big pop tomorrow or next week depending on when they decide to make an announcement.