Land & Buildings To Withhold Its Votes For QTS Realty CEO At Annual Meeting

(RTTNews) - Land & Buildings Investment Management, LLC said it has issued a presentation in response to the one filed by QTS Realty Trust Inc. (QTS) after the market close on Friday, April 13.

Land & Buildings noted that the first substantive public response by QTS to the company's critiques troublingly leaves investors with more questions than answers. The company advised other QTS shareholders to not only consider the credibility and accuracy of QTS' claims, but also the numerous points that QTS has declined to address

Accordingly, Land & Buildings, the holder of about 3 percent of QTS shares, said it intends to withhold its votes for QTS Chairman and CEO Chad Williams and Chair of the Compensation Committee William Grabe.

Land & Buildings also urged its fellow shareholders to withhold their votes on CEO and Chairman as well as Chair of the Compensation Committee at the QTS Realty Trust Annual Meeting on May 3, 2018.

According to Land & Buildings, a clear message needs to be sent that the persistent and consistent failures in corporate governance and compensation practices, and substantial under-performance for QTS shareholders, simply cannot continue.

Jonathan Litt, Founder and Chief Investment Officer of Land & Buildings, said, "QTS' response is the latest in a pattern of actions by the Company and its Board of Directors to divert shareholders' attention away from the manner in which Mr. Williams and the Board have created a culture of self-enrichment with absolutely zero accountability - all at the expense of the true owners of the Company."