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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Property rental $ 688,044 $ 433,962
Tenant reinsurance 81,347 47,704
Management fees and other income 30,148 21,384
Total revenues 799,539 503,050
Expenses:    
Property operations 204,518 117,166
Tenant reinsurance 18,505 9,089
General and administrative 43,722 34,763
Depreciation and amortization 196,966 78,490
Total expenses 463,711 239,508
Income from operations 335,828 263,542
Interest expense (132,887) (80,099)
Non-cash interest expense related to amortization of discount on Life Storage unsecured senior notes (10,705) 0
Interest income 23,573 19,438
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 215,809 202,881
Equity in earnings and dividend income from unconsolidated real estate entities 15,007 10,305
Income tax expense (6,742) (4,308)
Net income 224,074 208,878
Net income allocated to Preferred Operating Partnership noncontrolling interests (2,208) (2,254)
Net income allocated to Operating Partnership and other noncontrolling interests (8,754) (10,320)
Net income attributable to common stockholders $ 213,112 $ 196,304
Earnings per common share    
Basic (in dollars per share) $ 1.01 $ 1.46
Diluted (in dollars per share) $ 1.01 $ 1.46
Weighted average number of shares    
Basic (in shares) 211,283,335 134,511,273
Diluted (in shares) 220,018,777 142,940,384
Cash dividends paid per common share (in dollars per share) $ 1.62 $ 1.62