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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Property rental $ 2,222,578 $ 1,654,735 $ 1,340,990
Tenant reinsurance 235,680 185,531 170,108
Management fees and other income 101,986 83,904 66,264
Total revenues 2,560,244 1,924,170 1,577,362
Expenses:      
Property operations 612,036 435,342 368,608
Tenant reinsurance 58,874 33,560 29,488
Transaction costs 0 1,548 0
Life Storage Merger transition costs 66,732 0 0
General and administrative 146,408 129,251 102,194
Depreciation and amortization 506,053 288,316 241,879
Total expenses 1,390,103 888,017 742,169
Gain on real estate transactions 0 14,249 140,760
Income from operations 1,170,141 1,050,402 975,953
Interest expense (419,035) (219,171) (166,183)
Non-cash interest expense related to amortization of discount on Life Storage unsecured senior notes (18,786) 0 0
Interest income 84,857 69,422 49,703
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 817,177 900,653 859,473
Equity in earnings and dividend income from unconsolidated real estate entities 54,835 41,428 32,358
Equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets 0 0 6,251
Income tax expense (21,559) (20,925) (20,324)
Net income 850,453 921,156 877,758
Net income allocated to Preferred Operating Partnership noncontrolling interests (9,011) (17,623) (14,697)
Net income allocated to Operating Partnership and other noncontrolling interests (38,244) (42,845) (35,412)
Net income attributable to common stockholders $ 803,198 $ 860,688 $ 827,649
Earnings per common share      
Basic (in dollars per share) $ 4.74 $ 6.41 $ 6.20
Diluted (in dollars per share) $ 4.74 $ 6.41 $ 6.19
Weighted average number of shares      
Basic (in shares) 169,216,989 134,050,815 133,374,938
Diluted (in shares) 169,220,882 141,681,388 140,016,028