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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Property rental $ 704,380 $ 688,044
Tenant reinsurance 84,712 81,347
Management fees and other income 30,905 30,148
Total revenues 819,997 799,539
Expenses:    
Property operations 223,582 204,518
Tenant reinsurance 17,116 18,505
General and administrative 45,974 43,722
Depreciation and amortization 180,356 196,966
Total expenses 467,028 463,711
Gain on real estate assets held for sale and sold, net 35,761 0
Income from operations 388,730 335,828
Interest expense (142,399) (132,887)
Interest income 38,967 23,573
Income before equity in earnings and dividend income from unconsolidated real estate entities and income tax expense 273,985 215,809
Equity in earnings and dividend income from unconsolidated real estate entities 19,931 15,007
Income tax expense (8,991) (6,742)
Net income 284,925 224,074
Net income allocated to Preferred Operating Partnership noncontrolling interests (724) (2,208)
Net income allocated to Operating Partnership and other noncontrolling interests (13,326) (8,754)
Net income attributable to common stockholders $ 270,875 $ 213,112
Earnings per common share    
Basic (in dollars per share) $ 1.28 $ 1.01
Diluted (in dollars per share) $ 1.28 $ 1.01
Weighted average number of shares    
Basic (in shares) 211,850,618 211,283,335
Diluted (in shares) 212,052,742 220,018,777
Cash dividends paid per common share (in dollars per share) $ 1.62 $ 1.62
Unsecured senior notes    
Expenses:    
Non-cash interest expense related to amortization of discount on Life Storage unsecured senior notes $ (11,313) $ (10,705)