v3.26.1
Segment Information - Schedule of Financial Information of Business Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Revenues $ 874,152 $ 841,618 $ 1,730,179 $ 1,661,615
Net operating income        
Net operating income 392,184 373,970 759,737 762,700
Other components of net income:        
Management fees and other income 34,904 32,042 68,599 62,947
General and administrative expense (47,315) (44,952) (93,824) (90,926)
Depreciation and amortization expense (185,610) (177,266) (371,405) (357,622)
Gain (loss) on real estate assets held for sale and sold, net 0 (864) 0 34,897
Interest expense (146,720) (146,128) (294,019) (288,527)
Non-cash interest expense related to amortization of discount on unsecured senior notes, net (12,735) (11,770) (25,290) (23,083)
Interest income 38,777 41,998 78,320 80,965
Equity in earnings and dividend income from unconsolidated real estate entities 15,802 16,284 31,562 36,215
Equity in earnings of unconsolidated real estate ventures - gain on sale of a joint venture interest 640 0 847 0
Income tax expense (12,069) (11,638) (22,858) (20,629)
Net income 275,879 262,716 528,299 547,641
Operating Segments        
Revenues        
Revenues 839,248 809,576 1,661,580 1,598,668
Operating expenses        
Total segment operating expenses 249,043 244,566 505,213 485,264
Net operating income        
Net operating income 590,205 565,010 1,156,367 1,113,404
Operating Segments | Self-Storage Operations        
Revenues        
Revenues 746,164 721,004 1,479,377 1,425,384
Operating expenses        
Payroll and benefits 44,590 45,153 90,132 88,899
Marketing 18,227 18,897 33,985 34,047
Office expense 19,916 19,115 39,510 37,968
Property operating expense 34,168 34,565 75,275 71,931
Repairs and maintenance 12,208 14,282 30,176 30,539
Property taxes 87,035 82,359 171,010 162,243
Insurance 9,334 8,765 19,048 17,197
Other segment items 6,240 4,485 10,885 8,379
Total segment operating expenses 231,718 227,621 470,021 451,203
Net operating income        
Net operating income 514,446 493,383 1,009,356 974,181
Operating Segments | Tenant Reinsurance        
Revenues        
Revenues 93,084 88,572 182,203 173,284
Operating expenses        
Other segment items 17,325 16,945 35,192 34,061
Net operating income        
Net operating income $ 75,759 $ 71,627 $ 147,011 $ 139,223