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Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

Pay Versus Performance

 

Our Chief Executive Officer is our principal executive officer ("PEO"). The following table details, for our PEO and our Non-PEO NEOs (on an average basis), total compensation as set forth in the Summary Compensation Table, "compensation actually paid" as determined under SEC rules, cumulative Total Shareholder Return ("TSR"), the cumulative TSR of our peer group, net income, and funds from operations ("FFO") per share, as adjusted, which is the most important financial performance measure that we use to link compensation to performance.

 

Year Summary
Compensation
Table Total for
PEO (1)		 Compensation
Actually Paid to
PEO (2)

Average
Summary
Compensation

Table Total for
Non-PEO
NEOs (3)

 Average
Compensation
Actually Paid to
Non-PEO
NEOs (2)		 Value of Initial Fixed $100
Investment Based on:		 Net Income
(in thousands)		 FFO
per share, as
adjusted (5)
Company
TSR (4)		 Peer Group
TSR (4)
2022 $ 7,288,676 $ 1,052,755 $ 2,117,791    $ 978,870 $ 143.66 $ 100.62 $ 292,472 $ 2.53
2021 $ 7,317,658 $ 22,342,427   $ 1,996,166 $ 4,704,567 $ 194.96 $ 134.06 $ 230,813 $ 2.11
2020 $ 5,807,010 $ 8,607,156 $ 1,653,223 $ 2,224,869 $ 111.67   $ 94.88 $ 167,611 $ 1.72

 

(1)Mr. Marr was our PEO for each of 2020, 2021 and 2022.

 

(2)Amounts represent "compensation actually paid" for the relevant fiscal year, as determined under SEC rules and calculated per the adjustments detailed below. Our NEOs do not participate in a defined benefit plan. Dividends on unvested awards are included within "All Other Compensation" in the Summary Compensation table. Therefore, no adjustments for pension benefits or dividends paid are included in the table below. The following table details the adjustments made to calculate "compensation actually paid":

 

Year NEO Type Summary
Compensation
Table Total		 Subtract Equity
Awards		 Add Year-End
Fair Value of
Current Year Equity
Awards (a)		 Change in Value
of Prior
Equity Awards (a)		 Change in Value of
Equity Awards that
Vested in Current
Year (a)		 Total Compensation
Actually Paid
2022 PEO          $ 7,288,676 ($ 4,099,998)   $ 2,620,282 ($ 4,756,205)             —    $ 1,052,755
  Non-PEO $ 2,117,791     ($ 823,310)      $ 526,172    ($ 841,783)             —       $ 978,870
2021 PEO          $ 7,317,658 ($ 4,100,019)  $ 10,765,612   $ 8,317,929 $ 41,247  $ 22,342,427
  Non-PEO $ 1,996,166     ($ 710,001)     $ 1,864,282   $ 1,543,567 $ 10,553     $ 4,704,567
2020 PEO          $ 5,807,010 ($ 3,300,006)    $ 4,458,185     $ 1,642,811   ($ 844)     $ 8,607,156
  Non-PEO $ 1,653,223     ($ 601,655)       $ 812,810        $ 360,701   ($ 210)     $ 2,224,869

 

(a)For equity awards issued during the relevant year, represents fair value of such awards as of the end of the year. For equity awards issued in prior years, represents the change in fair value of such awards as of the vesting date or the end of the year, as appropriate, compared to the fair value of such awards at the end of the prior year. The fair value of the restricted share awards was determined by the closing price of our common shares as of the end of each year. The fair values of option and performance unit awards were calculated using Black-Scholes and Monte Carlo values, respectively, as of the relevant dates, except in the case of the final results of the performance units, which were valued as the closing price of our common shares as of the end of the performance period multiplied by the final multiplier derived from the relative TSR results.

 

(3)Messrs. Martin, Keaton and Foster were our Non-PEO NEOs for each of 2020, 2021 and 2022.

 

(4)TSR is determined based on an initial fixed investment of $100 on December 31, 2019. The TSR peer group consists of the FTSE NAREIT All Equity REIT Index, which is the peer group used for purposes of Item 201(e) of Regulation S-K under the Exchange Act in our Annual Report on Form 10-K for the year ended December 31, 2022.

 

(5)FFO per share, as adjusted, is a non-GAAP financial measure. See appendix to this proxy statement for a reconciliation of FFO, as adjusted, to net income available to common shareholders.
    
Company Selected Measure Name FFO per share, as adjusted    
Named Executive Officers, Footnote [Text Block]
(1)Mr. Marr was our PEO for each of 2020, 2021 and 2022.

 

(3)Messrs. Martin, Keaton and Foster were our Non-PEO NEOs for each of 2020, 2021 and 2022.

 

    
Peer Group Issuers, Footnote [Text Block]
(4)TSR is determined based on an initial fixed investment of $100 on December 31, 2019. The TSR peer group consists of the FTSE NAREIT All Equity REIT Index, which is the peer group used for purposes of Item 201(e) of Regulation S-K under the Exchange Act in our Annual Report on Form 10-K for the year ended December 31, 2022.

 

    
PEO Total Compensation Amount $ 7,288,676 $ 7,317,658 $ 5,807,010
PEO Actually Paid Compensation Amount $ 1,052,755 22,342,427 8,607,156
Adjustment To PEO Compensation, Footnote [Text Block]
(2)Amounts represent "compensation actually paid" for the relevant fiscal year, as determined under SEC rules and calculated per the adjustments detailed below. Our NEOs do not participate in a defined benefit plan. Dividends on unvested awards are included within "All Other Compensation" in the Summary Compensation table. Therefore, no adjustments for pension benefits or dividends paid are included in the table below. The following table details the adjustments made to calculate "compensation actually paid":

 

Year NEO Type Summary
Compensation
Table Total		 Subtract Equity
Awards		 Add Year-End
Fair Value of
Current Year Equity
Awards (a)		 Change in Value
of Prior
Equity Awards (a)		 Change in Value of
Equity Awards that
Vested in Current
Year (a)		 Total Compensation
Actually Paid
2022 PEO          $ 7,288,676 ($ 4,099,998)   $ 2,620,282 ($ 4,756,205)             —    $ 1,052,755
  Non-PEO $ 2,117,791     ($ 823,310)      $ 526,172    ($ 841,783)             —       $ 978,870
2021 PEO          $ 7,317,658 ($ 4,100,019)  $ 10,765,612   $ 8,317,929 $ 41,247  $ 22,342,427
  Non-PEO $ 1,996,166     ($ 710,001)     $ 1,864,282   $ 1,543,567 $ 10,553     $ 4,704,567
2020 PEO          $ 5,807,010 ($ 3,300,006)    $ 4,458,185     $ 1,642,811   ($ 844)     $ 8,607,156
  Non-PEO $ 1,653,223     ($ 601,655)       $ 812,810        $ 360,701   ($ 210)     $ 2,224,869

 

(a)For equity awards issued during the relevant year, represents fair value of such awards as of the end of the year. For equity awards issued in prior years, represents the change in fair value of such awards as of the vesting date or the end of the year, as appropriate, compared to the fair value of such awards at the end of the prior year. The fair value of the restricted share awards was determined by the closing price of our common shares as of the end of each year. The fair values of option and performance unit awards were calculated using Black-Scholes and Monte Carlo values, respectively, as of the relevant dates, except in the case of the final results of the performance units, which were valued as the closing price of our common shares as of the end of the performance period multiplied by the final multiplier derived from the relative TSR results.

 

    
Non-PEO NEO Average Total Compensation Amount $ 2,117,791 1,996,166 1,653,223
Non-PEO NEO Average Compensation Actually Paid Amount $ 978,870 4,704,567 2,224,869
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(2)Amounts represent "compensation actually paid" for the relevant fiscal year, as determined under SEC rules and calculated per the adjustments detailed below. Our NEOs do not participate in a defined benefit plan. Dividends on unvested awards are included within "All Other Compensation" in the Summary Compensation table. Therefore, no adjustments for pension benefits or dividends paid are included in the table below. The following table details the adjustments made to calculate "compensation actually paid":

 

Year NEO Type Summary
Compensation
Table Total		 Subtract Equity
Awards		 Add Year-End
Fair Value of
Current Year Equity
Awards (a)		 Change in Value
of Prior
Equity Awards (a)		 Change in Value of
Equity Awards that
Vested in Current
Year (a)		 Total Compensation
Actually Paid
2022 PEO          $ 7,288,676 ($ 4,099,998)   $ 2,620,282 ($ 4,756,205)             —    $ 1,052,755
  Non-PEO $ 2,117,791     ($ 823,310)      $ 526,172    ($ 841,783)             —       $ 978,870
2021 PEO          $ 7,317,658 ($ 4,100,019)  $ 10,765,612   $ 8,317,929 $ 41,247  $ 22,342,427
  Non-PEO $ 1,996,166     ($ 710,001)     $ 1,864,282   $ 1,543,567 $ 10,553     $ 4,704,567
2020 PEO          $ 5,807,010 ($ 3,300,006)    $ 4,458,185     $ 1,642,811   ($ 844)     $ 8,607,156
  Non-PEO $ 1,653,223     ($ 601,655)       $ 812,810        $ 360,701   ($ 210)     $ 2,224,869

 

(a)For equity awards issued during the relevant year, represents fair value of such awards as of the end of the year. For equity awards issued in prior years, represents the change in fair value of such awards as of the vesting date or the end of the year, as appropriate, compared to the fair value of such awards at the end of the prior year. The fair value of the restricted share awards was determined by the closing price of our common shares as of the end of each year. The fair values of option and performance unit awards were calculated using Black-Scholes and Monte Carlo values, respectively, as of the relevant dates, except in the case of the final results of the performance units, which were valued as the closing price of our common shares as of the end of the performance period multiplied by the final multiplier derived from the relative TSR results.

 

    
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

   
Compensation Actually Paid vs. Net Income [Text Block]

   
Compensation Actually Paid vs. Company Selected Measure [Text Block]

   
Tabular List [Table Text Block]

Financial Performance Measures

 

The following are the most important financial performance measures that were used to link NEO "compensation actually paid" to company performance in 2022:

 

Most Important Financial Performance Measures
FFO per share, as adjusted (1)
Same-store revenue growth (1)
Same-store expense growth (1)
TSR relative to TSR of our peer group

 

(1)See appendix to this proxy statement for a discussion of non-GAAP financial measures and reconciliations to the most directly comparable GAAP financial measures.
   
Total Shareholder Return Amount $ 143.66 194.96 111.67
Peer Group Total Shareholder Return Amount 100.62 134.06 94.88
Net Income (Loss) $ 292,472,000 $ 230,813,000 $ 167,611,000
Company Selected Measure Amount 2.53 2.11 1.72
PEO Name Mr. Marr    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name FFO per share, as adjusted    
Non-GAAP Measure Description [Text Block]
(5)FFO per share, as adjusted, is a non-GAAP financial measure. See appendix to this proxy statement for a reconciliation of FFO, as adjusted, to net income available to common shareholders.
    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Same-store revenue growth    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Same-store expense growth    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name TSR relative to TSR of our peer group    
PEO [Member] | Total Equity Awards Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (4,099,998) $ (4,100,019) $ (3,300,006)
PEO [Member] | Equity Awards Adjustments Year End Fair Value Of Awards Granted In Current Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,620,282 10,765,612 4,458,185
PEO [Member] | Change In Fair Value Of Unvested Awards Granted In Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (4,756,205) 8,317,929 1,642,811
PEO [Member] | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   41,247 (844)
Non-PEO NEO [Member] | Total Equity Awards Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (823,310) (710,001) (601,655)
Non-PEO NEO [Member] | Equity Awards Adjustments Year End Fair Value Of Awards Granted In Current Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 526,172 1,864,282 812,810
Non-PEO NEO [Member] | Change In Fair Value Of Unvested Awards Granted In Prior Fiscal Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (841,783) 1,543,567 360,701
Non-PEO NEO [Member] | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount   $ 10,553 $ (210)