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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net income $ 88,745 $ 94,858
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization, including amortization of loan procurement costs 60,377 51,747
Non-cash portion of interest expense related to finance leases (19) (15)
Equity in earnings of real estate ventures (379) (845)
Cash distributed from real estate ventures 1,023 1,222
Equity compensation expense 3,208 2,829
Accretion of fair market value adjustment of debt 12 (172)
Changes in other operating accounts:    
Other assets 4,065 56
Accounts payable and accrued expenses (12,405) (235)
Other liabilities 1,694 705
Net cash provided by operating activities 146,321 150,150
Investing Activities    
Acquisitions of storage properties   (20,147)
Additions and improvements to storage properties (9,370) (9,656)
Development costs (8,017) (6,101)
Cash paid for partner's interest in real estate venture, net of cash acquired (451,141)  
Investments in real estate ventures   (305)
Cash distributed from real estate ventures 1,194 1,989
Net cash used in investing activities (467,334) (34,220)
Proceeds from:    
Revolving credit facility 577,589 213,920
Principal payments on:    
Revolving credit facility (195,189) (213,620)
Mortgage loans and notes payable (301) (456)
Issuance of common shares, net (167) (9)
Payments upon net settlement of equity compensation (3,047) (838)
Exercise of stock options   201
Contributions from noncontrolling interests in subsidiaries   309
Distributions paid to noncontrolling interests in subsidiaries (112) (125)
Distributions paid to common shareholders (119,048) (115,253)
Distributions paid to noncontrolling interests in Operating Partnership (621) (663)
Net cash provided by (used in) financing activities 259,104 (116,534)
Change in cash, cash equivalents and restricted cash (61,909) (604)
Cash, cash equivalents and restricted cash at beginning of period 77,663 8,217
Cash, cash equivalents and restricted cash at end of period 15,754 7,613
Supplemental Cash Flow and Noncash Information    
Cash paid for interest, net of interest capitalized 32,319 31,551
Supplemental disclosure of noncash activities:    
Derivative valuation adjustment $ 20 $ 20