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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 391,885 $ 412,435 $ 292,472
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation and amortization, including amortization of loan procurement costs 209,770 205,379 314,507
Non-cash portion of interest expense related to finance leases (46) (44) (43)
Equity in earnings of real estate ventures (2,499) (6,085) (48,877)
Cash distributed from real estate ventures 4,661 5,467  
Gain on involuntary conversion, net   (4,827)  
Equity compensation expense 11,487 10,089 9,081
Accretion of fair market value adjustment of debt (295) (886) (1,099)
Changes in other operating accounts:      
Other assets (7,469) (10,138) 3,498
Accounts payable and accrued expenses 24,025 96 20,395
Other liabilities (445) (350) 1,532
Net cash provided by operating activities 631,074 611,136 591,466
Investing Activities      
Acquisitions of storage properties (42,402) (22,429) (89,004)
Acquisition of controlling interest in consolidated joint ventures, net of cash acquired (57,176)    
Additions and improvements to storage properties (43,575) (39,853) (41,233)
Development costs (29,959) (47,521) (24,358)
Investments in real estate ventures (1,301) (21) (21)
Cash distributed from real estate ventures 5,454 8,344 62,656
Funding of note receivable (5,000)    
Proceeds from sale of real estate, net   238 43,193
Proceeds from involuntary conversion, net   7,424  
Net cash used in investing activities (173,959) (93,818) (48,767)
Proceeds from:      
Revolving credit facility 697,039 794,447 633,950
Principal payments on:      
Revolving credit facility (715,139) (837,247) (782,950)
Mortgage loans and notes payable (32,341) (32,591) (2,426)
Loan procurement costs   (69) (3,885)
Issuance of common shares, net 118,270 (276) 4,877
Cash paid upon vesting of restricted shares (1,044) (817) (1,403)
Exercise of stock options 9,941 2,716 1,590
Contributions from noncontrolling interests in subsidiaries 372 1,100 350
Distributions paid to noncontrolling interests in subsidiaries (418) (316) (7,387)
Distributions paid to common shareholders (461,769) (442,217) (387,106)
Distributions paid to noncontrolling interests in Operating Partnership (2,580) (2,756) (2,702)
Net cash used in financing activities (387,669) (518,026) (547,092)
Change in cash, cash equivalents and restricted cash 69,446 (708) (4,393)
Cash, cash equivalents and restricted cash at beginning of period 8,217 8,925 13,318
Cash, cash equivalents and restricted cash at end of period 77,663 8,217 8,925
Supplemental Cash Flow and Noncash Information      
Cash paid for interest, net of interest capitalized 92,609 95,498 92,293
Supplemental disclosure of noncash activities:      
Acquisitions of storage properties (200)   (700)
Mortgage loan assumptions 115,828    
Accretion of put liability     2,444
Derivative valuation adjustment 81 81 81
Contributions from noncontrolling interests in subsidiaries $ 10,615 $ 7,599 $ 3,340