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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 230,813 $ 167,611 $ 170,771
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 240,217 159,247 166,366
Non-cash portion of interest expense related to finance leases 202    
Loss on early extinguishment of debt 20,328 18,020  
Equity in earnings of real estate ventures (25,275) (178) (11,122)
Gains from sales of real estate, net (32,698) (6,710) (1,508)
Equity compensation expense 8,088 7,140 6,694
Accretion of fair market value adjustment of debt (2,037) (259) (718)
Changes in other operating accounts:      
Other assets (9,247) (9,674) (6,578)
Accounts payable and accrued expenses 14,871 13,922 6,042
Other liabilities 3,923 1,914 1,821
Net cash provided by operating activities 449,185 351,033 331,768
Investing Activities      
Acquisitions of storage properties (151,547) (417,988) (117,998)
Acquisition of LAACO, Ltd., net of cash acquired (1,678,984)    
Additions and improvements to storage properties (34,608) (49,857) (37,569)
Development costs (69,887) (55,286) (102,826)
Cash paid for partner's interest in real estate venture, net of cash, cash equivalents and restricted cash acquired     (117,959)
Investment in real estate ventures (28,261) (7,022) (10,264)
Cash distributed from real estate ventures 66,593 6,246 7,096
Proceeds from sale of real estate, net 44,026 12,466 3,856
Net cash used in investing activities (1,852,668) (511,441) (375,664)
Proceeds from:      
Unsecured senior notes 1,043,427 445,833 696,426
Revolving credit facility 906,571 429,085 859,313
Principal payments on:      
Unsecured senior notes (300,000) (250,000)  
Revolving credit facility (814,471) (311,285) (1,158,776)
Unsecured term loans     (200,000)
Mortgage loans and notes payable (87,263) (46,093) (11,652)
Loan procurement costs (12,548) (3,764) (6,023)
Debt prepayment costs (20,023) (17,584)  
Settlement of hedge transactions     (807)
Acquisition of noncontrolling interest in subsidiary, net (3,397)   (35,777)
Proceeds from issuance of common shares, net 965,638 120,727 196,304
Cash paid upon vesting of restricted shares (876) (686) (421)
Exercise of stock options 7,865 961 3,686
Contributions from noncontrolling interests in subsidiaries 8,031   48
Distributions paid to noncontrolling interests in subsidiaries (246) (205) (188)
Distributions paid to common shareholders (273,839) (256,253) (243,859)
Distributions paid to noncontrolling interests in Operating Partnership (8,297) (2,540) (2,419)
Net cash provided by financing activities 1,410,572 108,196 95,855
Change in cash, cash equivalents and restricted cash 7,089 (52,212) 51,959
Cash, cash equivalents and restricted cash at beginning of period 6,229 58,441 6,482
Cash, cash equivalents and restricted cash at end of period 13,318 6,229 58,441
Supplemental Cash Flow and Noncash Information      
Cash paid for interest, net of interest capitalized 79,148 80,792 69,283
Supplemental disclosure of noncash activities:      
Acquisitions of storage properties   (2,623)  
Proceeds held in escrow from real estate venture's sale of real estate (see note 4)     8,288
Noncash consideration for acquisition of partner's interest in real estate venture (see note 4)     (8,288)
Right-of-use assets obtained in exchange for lease liabilities   61,423  
Discount on issuance of unsecured senior notes 6,573 4,167 3,574
Noncash drawdown on revolving credit facility     103,938
Mortgage loan assumptions 40,880 169,056  
Repayment of unsecured term loan through noncash drawdown on revolving credit facility     (100,000)
Accretion of put liability 9,777 7,917 5,895
Derivative valuation adjustment 81 81 302
Loan procurement costs     (3,770)
Issuance of OP units (see note 4)   186,933 3,576
Acquisition of noncontrolling interest in subsidiary     (4,828)
Contributions from noncontrolling interests in subsidiaries $ 3,373 $ 682 $ 7,328