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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income $ 289,994 $ 299,298
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization, including amortization of loan procurement costs 155,993 153,783
Non-cash portion of interest expense related to finance leases (37) (38)
Equity in earnings of real estate ventures (1,688) (4,482)
Cash distributed from real estate ventures 3,453 3,705
Equity compensation expense 8,590 7,530
Accretion of fair market value adjustment of debt (294) (714)
Changes in other operating accounts:    
Other assets (12,732) (10,052)
Accounts payable and accrued expenses 21,906 18,408
Other liabilities 1,223 1,402
Net cash provided by operating activities 466,408 468,840
Investing Activities    
Acquisitions of storage properties (20,597)  
Additions and improvements to storage properties (33,137) (31,642)
Development costs (23,489) (34,228)
Investments in real estate ventures (316) (16)
Cash distributed from real estate ventures 4,678 7,116
Proceeds from sale of real estate, net   238
Net cash used in investing activities (72,861) (58,532)
Proceeds from:    
Revolving credit facility 612,506 614,083
Principal payments on:    
Revolving credit facility (630,606) (659,783)
Mortgage loans and notes payable (32,089) (32,138)
Loan procurement costs   (39)
Issuance of common shares, net 32,720 (225)
Cash paid upon vesting of restricted shares (1,028) (804)
Exercise of stock options 9,941 2,716
Contributions from noncontrolling interests in subsidiaries 309 797
Distributions paid to noncontrolling interests in subsidiaries (309) (250)
Distributions paid to common shareholders (345,901) (331,601)
Distributions paid to noncontrolling interests in Operating Partnership (1,952) (2,089)
Net cash used in financing activities (356,409) (409,333)
Change in cash, cash equivalents and restricted cash 37,138 975
Cash, cash equivalents and restricted cash at beginning of period 8,217 8,925
Cash, cash equivalents and restricted cash at end of period 45,355 9,900
Supplemental Cash Flow and Noncash Information    
Cash paid for interest, net of interest capitalized 77,953 80,299
Supplemental disclosure of noncash activities:    
Derivative valuation adjustment $ 60 $ 60