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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating Activities      
Net income $ 292,472 $ 230,813 $ 167,611
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization 314,507 240,217 159,247
Non-cash portion of interest expense related to finance leases (43) 202  
Loss on early extinguishment of debt   20,328 18,020
Equity in earnings of real estate ventures (48,877) (25,275) (178)
Gains from sales of real estate, net   (32,698) (6,710)
Equity compensation expense 9,081 8,088 7,140
Accretion of fair market value adjustment of debt (1,099) (2,037) (259)
Changes in other operating accounts:      
Other assets 3,498 (9,247) (9,674)
Accounts payable and accrued expenses 20,395 14,871 13,922
Other liabilities 1,532 3,923 1,914
Net cash provided by operating activities 591,466 449,185 351,033
Investing Activities      
Acquisitions of storage properties (89,004) (151,547) (417,988)
Acquisition of LAACO, Ltd., net of cash acquired   (1,678,984)  
Additions and improvements to storage properties (41,233) (34,608) (49,857)
Development costs (24,358) (69,887) (55,286)
Investment in real estate ventures (21) (28,261) (7,022)
Cash distributed from real estate ventures 62,656 66,593 6,246
Proceeds from sale of real estate, net 43,193 44,026 12,466
Net cash used in investing activities (48,767) (1,852,668) (511,441)
Proceeds from:      
Unsecured senior notes   1,043,427 445,833
Revolving credit facility 633,950 906,571 429,085
Principal payments on:      
Unsecured senior notes   (300,000) (250,000)
Revolving credit facility (782,950) (814,471) (311,285)
Mortgage loans and notes payable (2,426) (87,263) (46,093)
Loan procurement costs (3,885) (12,548) (3,764)
Debt prepayment costs   (20,023) (17,584)
Acquisition of noncontrolling interest in subsidiary, net   (3,397)  
Proceeds from issuance of common shares, net 4,877 965,638 120,727
Cash paid upon vesting of restricted shares (1,403) (876) (686)
Exercise of stock options 1,590 7,865 961
Contributions from noncontrolling interests in subsidiaries 350 8,031  
Distributions paid to noncontrolling interests in subsidiaries (7,387) (246) (205)
Distributions paid to common shareholders (387,106) (273,839) (256,253)
Distributions paid to noncontrolling interests in Operating Partnership (2,702) (8,297) (2,540)
Net cash (used in) provided by financing activities (547,092) 1,410,572 108,196
Change in cash, cash equivalents and restricted cash (4,393) 7,089 (52,212)
Cash, cash equivalents and restricted cash at beginning of period 13,318 6,229 58,441
Cash, cash equivalents and restricted cash at end of period 8,925 13,318 6,229
Supplemental Cash Flow and Noncash Information      
Cash paid for interest, net of interest capitalized 92,293 79,148 80,792
Supplemental disclosure of noncash activities:      
Acquisitions of storage properties (700)   (2,623)
Right-of-use assets obtained in exchange for lease liabilities     61,423
Discount on issuance of unsecured senior notes   6,573 4,167
Mortgage loan assumptions   40,880 169,056
Accretion of put liability 2,444 9,777 7,917
Derivative valuation adjustment 81 81 81
Issuance of OP units (see note 4)     186,933
Contributions from noncontrolling interests in subsidiaries $ 3,340 $ 3,373 $ 682