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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Property rental $ 735,581 $ 710,874 $ 2,160,965 $ 2,096,018
Tenant reinsurance 90,341 84,048 263,625 249,100
Management fees and other income 32,538 29,882 95,485 89,888
Total revenues 858,460 824,804 2,520,075 2,435,006
Expenses:        
Property operations 235,486 209,035 686,689 610,455
Tenant reinsurance 17,781 17,510 51,842 55,646
General and administrative 43,479 39,750 134,405 123,373
Depreciation and amortization 177,466 195,046 535,088 586,821
Total expenses 474,212 461,341 1,408,024 1,376,295
Loss on real estate assets held for sale and sold, net (105,128) (8,961) (70,231) (63,620)
Impairment of Life Storage trade name 0 (51,763) 0 (51,763)
Income from operations 279,120 302,739 1,041,820 943,328
Interest expense (149,650) (142,855) (438,177) (412,875)
Non-cash interest expense related to amortization of discount on unsecured senior notes, net (12,086) (11,005) (35,169) (32,563)
Interest income 43,588 34,947 124,553 89,746
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 160,972 183,826 693,027 587,636
Equity in earnings and dividend income from unconsolidated real estate entities 15,669 16,246 51,884 48,508
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and sale of a joint venture interest 9,354 13,730 9,354 13,730
Income tax expense (11,962) (10,857) (32,591) (27,443)
Net income 174,033 202,945 721,674 622,431
Net income allocated to Preferred Operating Partnership noncontrolling interests (724) (1,932) (2,171) (6,073)
Net income allocated to Operating Partnership and other noncontrolling interests (7,311) (7,803) (32,899) (24,164)
Net income attributable to common stockholders $ 165,998 $ 193,210 $ 686,604 $ 592,194
Earnings per common share        
Basic (in dollars per share) $ 0.78 $ 0.91 $ 3.23 $ 2.79
Diluted (in dollars per share) $ 0.78 $ 0.91 $ 3.23 $ 2.79
Weighted average number of shares        
Basic (in shares) 211,963,870 211,698,436 211,918,589 211,522,578
Diluted (in shares) 221,304,958 220,298,870 211,918,589 220,177,692
Cash dividends paid per common share (in dollars per share) $ 1.62 $ 1.62 $ 4.86 $ 4.86