This is always a sign that something is going on within the REIT. In Corporate Office Property Trust's case it is due to a portfolio restructuring.
In April 2011, management and the Board announced a strategic reallocation plan that called for the disposition of $512 million in operating properties and $50 million in land.
Warren Buffett believes in picking an industry in which you know much more than the average investor. He calls that industry your circle of competence. His partner Charlie Munger once said that the simple way to get success in life is to play on the field that we are the best at, otherwise we would get beaten up pretty fast.
Corporate Office Property Trust has come to the same conclusion and is reorganizing its portfolio to operate within its circle of competence.