Exterior of data center A QTS data center in Ashburn, VA.

(This article has been updated with additional information)

OVERLAND PARK, KS—Two days after QTS Realty Trust announced a restructuring plan to accelerate its growth, Land and Buildings Investment Management called on the data center REIT’s shareholders to explore strategic alternatives, including a management shakeup and M&A activity. The QTS letter over the signature of Land and Buildings CIO Jonathan Litt calls QTS “a perennial underperformer, delivering inferior total shareholder returns to data center peers over several years, including underperforming by nearly 100% since the company’s October 2013 IPO.” In a statement, QTS responds to the Land and Buildings letter by saying that its board and management team “are focused on delivering substantial near-term and long-term value creation and will continue to take actions to advance this objective.”

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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