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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income $ 189,044 $ 196,225
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization, including amortization of loan procurement costs 103,797 102,768
Non-cash portion of interest expense related to finance leases (29) (31)
Equity in earnings of real estate ventures (1,270) (3,341)
Cash distributed from real estate ventures 2,325 2,311
Equity compensation expense 5,687 4,985
Accretion of fair market value adjustment of debt (289) (531)
Changes in other operating accounts:    
Other assets (6,070) (18,888)
Accounts payable and accrued expenses 25,804 14,097
Other liabilities 2,013 1,487
Net cash provided by operating activities 321,012 299,082
Investing Activities    
Acquisitions of storage properties (20,147)  
Additions and improvements to storage properties (21,068) (25,274)
Development costs (16,528) (27,718)
Investments in real estate ventures (310) (10)
Cash distributed from real estate ventures 3,490 5,551
Net cash used in investing activities (54,563) (47,451)
Proceeds from:    
Revolving credit facility 410,587 454,934
Principal payments on:    
Revolving credit facility (418,087) (452,634)
Mortgage loans and notes payable (31,857) (31,698)
Loan procurement costs   (39)
Issuance of common shares, net (48) (146)
Cash paid upon vesting of restricted shares (999) (771)
Exercise of stock options 4,719 2,716
Contributions from noncontrolling interests in subsidiaries 309 797
Distributions paid to noncontrolling interests in subsidiaries (179) (161)
Distributions paid to common shareholders (230,521) (221,015)
Distributions paid to noncontrolling interests in Operating Partnership (1,320) (1,394)
Net cash used in financing activities (267,396) (249,411)
Change in cash, cash equivalents and restricted cash (947) 2,220
Cash, cash equivalents and restricted cash at beginning of period 8,217 8,925
Cash, cash equivalents and restricted cash at end of period 7,270 11,145
Supplemental Cash Flow and Noncash Information    
Cash paid for interest, net of interest capitalized 46,904 48,357
Supplemental disclosure of noncash activities:    
Derivative valuation adjustment $ 40 $ 40