SEGMENT INFORMATION (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Jun. 30, 2025
USD ($)
segment
|
Jun. 30, 2024
USD ($)
segment
|
Jun. 30, 2025
USD ($)
segment
|
Jun. 30, 2024
USD ($)
segment
|
|
| SEGMENT INFORMATION | ||||
| Number of operating segment | segment | 1 | 1 | 1 | 1 |
| Total revenues | $ 282,303 | $ 266,209 | $ 555,339 | $ 527,615 |
| Significant segment-level expenses (income): | ||||
| Total property operating expenses | 89,028 | 83,097 | 171,962 | 160,134 |
| Depreciation and amortization | 66,488 | 51,035 | 125,644 | 101,752 |
| General and administrative | 14,897 | 14,622 | 30,965 | 30,247 |
| Interest expense on loans | 29,090 | 22,767 | 55,190 | 45,686 |
| Loan procurement amortization expense | 1,221 | 1,015 | 2,442 | 2,045 |
| Equity in earnings of real estate ventures | (547) | (425) | (926) | (1,270) |
| Other | (306) | (88) | (1,115) | (23) |
| NET INCOME | 82,432 | 94,186 | 171,177 | 189,044 |
| Self-storage segment | ||||
| SEGMENT INFORMATION | ||||
| Total revenues | 282,303 | 266,209 | 555,339 | 527,615 |
| Significant segment-level expenses (income): | ||||
| Property taxes | 30,087 | 26,686 | 60,266 | 54,048 |
| Personnel expense | 22,404 | 23,576 | 43,784 | 44,668 |
| Advertising | 9,986 | 8,424 | 14,407 | 12,016 |
| Repairs and maintenance | 3,184 | 3,245 | 6,048 | 5,806 |
| Utilities | 5,758 | 5,554 | 12,427 | 11,911 |
| Property insurance | 3,856 | 3,831 | 8,029 | 7,503 |
| Other property operating expenses | 13,753 | 11,781 | 27,001 | 24,182 |
| Total property operating expenses | 89,028 | 83,097 | 171,962 | 160,134 |
| Depreciation and amortization | 66,488 | 51,035 | 125,644 | 101,752 |
| General and administrative | 14,897 | 14,622 | 30,965 | 30,247 |
| Interest expense on loans | 29,090 | 22,767 | 55,190 | 45,686 |
| Loan procurement amortization expense | 1,221 | 1,015 | 2,442 | 2,045 |
| Equity in earnings of real estate ventures | (547) | (425) | (926) | (1,270) |
| Other | (306) | (88) | (1,115) | (23) |
| NET INCOME | $ 82,432 | $ 94,186 | $ 171,177 | $ 189,044 |
| X | ||||||||||
- Definition The aggregate costs of utilities of property, No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of amortization expense attributable to debt issuance costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Other operating costs incurred during the reporting period and may include amounts paid to maintain the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition A contract to provide coverage or protection in exchange for a payment or "premium". Examples of insurance protection include liability and property insurance. The entity paying the premiums for the protection will have insurance expense and possibly an asset, Prepaid Insurance (if the premiums are paid in advance). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|