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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income (loss) $ 93,681 $ 77,249
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 109,996 82,238
Non-cash portion of interest expense related to finance leases 199  
Equity in (earnings) losses of real estate ventures (336) 179
Equity compensation expense 4,043 3,603
Accretion of fair market value adjustment of debt (1,120) (354)
Changes in other operating accounts:    
Other assets (11,935) 324
Accounts payable and accrued expenses 19,439 23,940
Other liabilities 3,391 1,336
Net cash provided by operating activities 217,358 188,515
Investing Activities    
Acquisitions of storage properties (31,516) (72,814)
Additions and improvements to storage properties (18,506) (30,772)
Development costs (33,054) (18,180)
Investment in real estate ventures (11,749) (5,908)
Cash distributed from real estate ventures 6,855 3,149
Net cash used in investing activities (87,970) (124,525)
Proceeds from:    
Revolving credit facility 422,756 127,217
Principal payments on:    
Revolving credit facility (515,956) (111,817)
Mortgage loans and notes payable (45,217) (1,262)
Proceeds from issuance of common shares, net 142,117 (188)
Cash paid upon vesting of restricted shares (802) (650)
Exercise of stock options 5,247 135
Contributions from noncontrolling interests in subsidiaries 1,731  
Distributions paid to noncontrolling interests in subsidiaries (107) (101)
Distributions paid to common shareholders (135,722) (128,074)
Distributions paid to noncontrolling interests in Operating Partnership (3,437) (1,299)
Net cash provided by financing activities (129,390) (116,039)
Change in cash, cash equivalents and restricted cash (2) (52,049)
Cash, cash equivalents and restricted cash at beginning of period 6,229 58,441
Cash, cash equivalents and restricted cash at end of period 6,227  
Supplemental Cash Flow and Noncash Information    
Cash paid for interest, net of interest capitalized 38,824 37,726
Supplemental disclosure of noncash activities:    
Acquisitions of storage properties   (2,623)
Accretion of put liability 4,889 1,792
Derivative valuation adjustment 40 $ 40
Contributions from noncontrolling interests in subsidiaries $ 3,373