7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-09-30 2013-06-30 2013-03-31 2012-09-30 2012-06-30 2012-03-31 2011-09-30 2011-06-30 2011-03-31 2010-09-30 2010-06-30 2010-03-31 2009-09-30 2009-06-30 2009-03-31 2008-09-30 2008-06-30 2008-03-31 2007-09-30 2007-06-30 2007-03-31 2006-12-31 2006-09-30 2006-06-30 2006-03-31 2005-09-30 2005-06-30 2005-03-31 
      
    		                                                                           
      cash flows from operating activities:
    		                                                                           
      net income
    		174,033,000 262,716,000 284,925,000 277,801,000 202,945,000 195,412,000 224,074,000 227,407,000 198,856,000 215,312,000 208,878,000 219,479,000 236,126,000 247,834,000 217,717,000 283,858,000 199,820,000 178,579,000 215,501,000 166,309,000 123,854,000 111,257,000 116,162,000 120,279,000 115,995,000 112,689,000 102,160,000 109,250,000 139,687,000 102,713,000 95,430,000 229,315,000 101,075,000 94,098,000 89,734,000 90,416,000 127,226,000 90,040,000 89,407,000 11,744,000 78,200,000 60,956,000 58,636,000 49,486,000 59,193,000 46,008,000 41,209,000 32,352,000 37,101,000 33,931,000 41,553,000 24,745,000 22,518,000 17,352,000 12,517,000 10,140,000 9,482,000 7,925,000 5,179,000 7,574,000 -6,681,000 30,762,000 12,327,000 8,901,000 6,700,000 11,338,000 8,695,000 6,470,000 6,739,000 4,307,000 3,092,000 738,000 -2,859,000 -1,220,000 -640,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                                           
      depreciation and amortization
    		177,466,000 177,266,000 180,356,000 196,202,000 195,046,000 194,809,000 196,966,000 196,139,000 152,338,000 79,086,000 78,490,000 79,920,000 71,423,000 69,067,000 67,906,000 62,194,000 61,516,000 59,570,000 58,599,000 56,739,000 56,412,000 56,018,000 55,275,000 54,741,000 56,051,000 54,406,000 54,659,000 53,126,000 52,283,000 51,892,000 51,749,000 49,157,000 48,075,000 46,632,000 49,432,000 49,158,000 46,555,000 43,950,000 42,897,000 40,766,000 30,711,000 31,552,000 30,428,000 29,181,000 29,249,000 28,271,000 28,375,000 23,428,000 22,785,000 23,025,000 19,768,000 16,626,000 16,524,000 14,364,000 14,092,000 13,585,000 12,519,000 12,202,000 12,419,000 13,797,000 12,840,000 12,523,000 12,355,000 11,697,000 11,581,000 10,598,000 9,123,000 8,796,000 9,586,000 9,253,000 9,057,000 9,276,000 9,535,000 6,213,000 5,730,000 
      amortization of deferred financing costs
    		3,106,000 2,861,000 2,790,000 3,254,000 5,680,000 3,731,000 4,008,000 9,233,000 4,246,000 2,866,000 2,604,000 2,421,000 2,419,000 1,949,000 1,984,000 3,931,000 1,787,000 2,583,000 2,286,000 2,030,000 2,410,000 2,116,000 2,830,000 3,077,000 2,906,000 2,972,000 3,034,000 5,056,000 3,166,000 3,043,000 3,021,000 3,043,000 3,163,000 2,980,000 3,103,000 3,534,000 3,771,000 2,794,000 2,823,000 2,903,000 1,548,000 1,730,000 1,598,000 1,637,000 1,719,000 1,595,000 1,641,000 1,163,000 1,525,000 1,510,000 1,646,000 1,124,000 2,246,000 1,487,000 1,131,000 1,102,000 976,000 1,097,000 1,250,000 1,097,000 998,000 883,000 932,000 847,000 861,000 897,000 928,000 632,000        
      non-cash lease expense
    		3,214,000        506,000 480,000 462,000 462,000 502,000 465,000 474,000 473,000 451,000 458,000 487,000 374,000 369,000 77,000 353,000                                                     
      non-cash interest expense related to amortization of discount on unsecured senior notes
    		12,086,000                                                                           
      compensation expense related to share-based awards
    		7,061,000 8,512,000 7,167,000 8,489,000 8,225,000 280,000 5,912,000                                                                     
      accrual of interest income added to principal of debt securities and notes receivable
    		-7,680,000 -8,148,000 -8,273,000 -7,912,000 -7,355,000 -8,545,000 -7,555,000 -7,780,000 -13,927,000 -7,626,000 -8,574,000 -9,898,000 -9,279,000 -9,284,000 -9,951,000 -8,679,000 -8,559,000 -8,779,000 -8,533,000                                                         
      equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and sale of a joint venture interest
    		   0                                                                        
      impairment of life storage trade name
    		   0                                                                        
      loss on real estate assets held for sale and sold
    		                                                                           
      distributions from unconsolidated real estate ventures
    		6,885,000 8,718,000 9,192,000 8,906,000 7,299,000 6,240,000 8,300,000 8,576,000 3,890,000 3,805,000 3,789,000                                                                 
      changes in operating assets and liabilities:
    		                                                                           
      other assets
    		-55,101,000 16,785,000 10,218,000 -57,780,000 48,255,000 -22,181,000 19,663,000 616,000 -4,994,000 -25,479,000 -2,650,000 2,999,000 -19,996,000 21,998,000 -6,209,000 -13,279,000 -16,131,000 8,256,000 -2,737,000 -1,697,000 -7,792,000 -12,675,000 2,490,000 -1,329,000 -13,043,000 2,195,000 -305,000 -1,025,000 -7,908,000 8,006,000 -737,000 804,000 -30,564,000 10,730,000 4,336,000 13,078,000 -14,873,000 4,090,000 -5,276,000 18,850,000 -17,061,000 -324,000 -2,637,000 -1,965,000 -3,306,000 2,325,000 1,448,000  897,000 1,051,000 3,705,000 -1,818,000 2,979,000 -3,852,000 1,850,000 3,110,000     148,000 317,000    1,692,000 -742,000 4,095,000 -2,689,000 -1,177,000 3,252,000 3,643,000  -6,027,000 -716,000 
      accounts payable and accrued expenses
    		43,662,000 72,531,000 4,998,000 -44,181,000 2,476,000 41,557,000 1,112,000 -99,279,000 98,076,000 31,510,000 4,724,000 -19,871,000 20,252,000 36,311,000 -7,665,000 -22,956,000 14,844,000 21,754,000 -2,691,000 -23,806,000 21,817,000 16,236,000 3,727,000 -13,788,000 7,678,000 15,214,000 6,418,000 -24,941,000 19,789,000 -2,546,000 10,434,000 -16,940,000 24,515,000 11,979,000 -30,069,000 -863,000 11,340,000 5,240,000 -5,642,000 -10,674,000 6,925,000 -2,175,000 6,032,000 -8,007,000 7,989,000      2,486,000     123,000   512,000    2,875,000             
      other liabilities
    		-3,376,000 -16,460,000 14,479,000 50,254,000 -52,219,000 68,429,000 2,371,000 13,288,000 -45,781,000 40,984,000 -11,573,000 4,869,000 -2,633,000 -9,823,000 15,872,000 -12,548,000 6,226,000 -2,508,000 -664,000 7,389,000 -11,404,000 21,956,000 1,691,000 -6,703,000 5,833,000 1,012,000 -2,475,000 1,787,000 7,702,000 -1,380,000 6,275,000 -5,258,000 9,568,000 -3,582,000 -6,359,000 -2,965,000 6,615,000 -2,457,000 -985,000 13,718,000 2,125,000 1,172,000 -5,087,000 6,856,000 -2,643,000   -715,000            -3,516,000   -501,000 488,000 896,000    2,036,000 3,240,000    3,619,000 447,000 
      net cash from operating activities
    		457,131,000 543,861,000 481,404,000 408,279,000 468,351,000 545,244,000 465,556,000 364,515,000 408,432,000 347,878,000 281,649,000 290,118,000 307,634,000 352,922,000 287,465,000 223,168,000 265,580,000 259,808,000 203,880,000 187,965,000 191,194,000 202,817,000 189,256,000 163,220,000 181,059,000 194,068,000 169,339,000 148,768,000 189,285,000 168,134,000 171,608,000 147,746,000 160,580,000 175,928,000 113,121,000 153,104,000 146,489,000 144,204,000 95,466,000 81,048,000 102,994,000 95,848,000 87,439,000 81,017,000 88,805,000 103,187,000 64,572,000 72,033,000 75,435,000 51,116,000 60,340,000 51,831,000 40,790,000 35,464,000 35,191,000 30,002,000 28,659,000 30,056,000 16,015,000 16,960,000 30,514,000 18,618,000 25,868,000 24,328,000 24,199,000 26,947,000 26,243,000 25,662,000 13,804,000 24,452,000 21,234,000 15,030,000  1,189,000 3,256,000 
      cash flows from investing activities:
    		                                                                           
      acquisition of real estate assets and improvements
    		-123,030,000 -255,893,000 -208,624,000 -289,409,000 -203,797,000 -66,279,000 -91,050,000 -123,378,000                                                                    
      development and redevelopment of real estate assets
    		-31,507,000 -44,323,000 -35,237,000 -28,111,000 -31,123,000 -33,559,000 -35,825,000 -33,648,000 -29,289,000 -20,482,000 -16,762,000 -30,367,000 -2,396,000 -14,540,000 -14,716,000 -13,507,000 -16,937,000 -11,696,000 -14,086,000 -21,188,000 -16,121,000 -14,618,000 -15,373,000 -19,304,000 -13,522,000 -5,045,000 -15,846,000 -15,301,000 -17,483,000 -16,787,000 -11,106,000 -11,076,000 -8,396,000 -7,028,000 -5,246,000 -4,787,000 -4,092,000 -7,857,000 -6,543,000 -11,794,000 -5,211,000 -6,786,000 -3,140,000 -12,240,000                                
      proceeds from sale of real estate assets
    		35,541,000 8,476,000 124,730,000               61,472,000 132,733,000 43,790,000                 39,204,000   0 0       -40,000            0   0      0 0 0 728,000    
      investment in unconsolidated real estate entities
    		6,107,000 -10,888,000 -102,397,000 -294,742,000 3,614,000 -8,377,000 -2,412,000 -1,021,000 -8,132,000 -150,064,000 -21,062,000 -16,293,000 -26,331,000 -72,018,000 -4,321,000 -33,768,000 -13,660,000 -6,924,000 -250,000 -50,855,000 -4,396,000 -3,100,000 -6,441,000                                                     
      return of investment in unconsolidated real estate ventures
    		31,130,000   2,414,000 8,799,000       0 0 0 342,000 0 0 365,000 31,169,000 0    0 0   1,166,000 20,000 0 47,944,000 0 0 0 581,000 4,962,000 10,673,000 1,000,000 318,000 45,019,000                                    
      issuance of notes receivable
    		-151,971,000                     -16,825,000 -7,500,000 -23,316,000 -10,078,000   39,000                                                
      payments received on notes receivable
    		91,624,000 6,375,000 39,963,000                                                                         
      proceeds from sale of notes receivable
    		66,001,000 6,496,000 25,875,000 8,297,000    33,431,000 73,368,000 21,435,000 39,261,000 6,353,000 121,580,000 42,397,000 39,718,000 55,180,000 29,524,000 6,048,000 81,250,000                                                         
      purchase of equipment and fixtures
    		-7,302,000 -4,133,000 -4,269,000 -4,801,000 -6,061,000 -3,050,000 -6,602,000 -6,479,000 -3,610,000 -1,975,000 -3,930,000 -3,342,000 -9,978,000 -1,527,000 -7,985,000 -601,000 -981,000 -1,380,000 -697,000 -3,686,000 -642,000 -1,670,000 -1,095,000 -2,805,000 -2,936,000 -841,000 -1,182,000 -1,271,000 -806,000 -1,089,000 -1,131,000 -2,184,000 -1,525,000 -2,818,000 -1,292,000 -2,150,000 -690,000 -1,220,000 -908,000 -2,559,000 -2,229,000 -1,408,000 -1,184,000 -1,194,000                                
      net cash from investing activities
    		-83,407,000 -272,217,000 -342,038,000 -769,417,000 -112,736,000 -482,696,000 -282,071,000 -182,204,000 -1,278,466,000 -271,247,000 -86,339,000 -406,205,000 -672,226,000 -448,656,000 -121,372,000 -419,748,000 -272,490,000 -187,897,000 42,595,000 -591,582,000 -251,977,000 -51,295,000 -60,573,000 -265,253,000 84,052,000 -193,454,000 -246,975,000 -126,869,000 -87,934,000 -198,167,000 -30,928,000 -281,812,000 -38,710,000 -48,944,000 -90,000 -327,725,000 -298,318,000 -147,324,000 -258,668,000 -1,139,230,000 -233,645,000 -161,278,000 -91,511,000 -208,007,000               11,821,000               -18,926,000 -57,679,000 
      cash flows from financing activities:
    		                                                                           
      proceeds from unsecured term loans, senior notes, revolving lines of credit and commercial paper
    		4,995,912,000 2,461,000,000 3,979,431,000                                                                         
      principal payments on unsecured term loans, senior notes, revolving lines of credit and commercial paper
    		-5,805,659,000 -2,359,133,000 -4,615,810,000                                                                         
      proceeds from issuance of public bonds
    		800,000,000 0 850,000,000 300,000,000 400,000,000 0 600,000,000  0 450,000,000 500,000,000 0 -3,900,000 0 400,000,000 0 593,953,000                                                           
      deferred financing costs
    		-17,325,000 155,000 -13,528,000 -10,497,000 -6,914,000 -105,000 -5,614,000 11,941,000 -23,208,000 -22,071,000 -6,080,000 -1,703,000 -905,000 -871,000 -5,842,000 0 -5,295,000 -3,714,000 -1,689,000 -891,000 -3,149,000 4,000 -16,000 -978,000 -1,421,000 -487,000 -100,000 -5,247,000 -4,027,000 -2,911,000 -117,000 -1,795,000 -2,247,000 -2,672,000 -253,000 -10,786,000 -998,000 -4,416,000 -1,286,000 -4,641,000 -1,687,000 -2,032,000 -1,419,000 -1,454,000                              -2,313,000 -400,000 
      repurchase of common stock, net of offering costs
    		                                                                           
      proceeds from share issuances
    		   0                                                                        
      redemption of operating partnership units for cash
    		-1,174,000                                                                           
      offering costs associated with shelf registration
    		   0 -28,000                                                                       
      dividends paid on common stock
    		-343,845,000 -343,882,000 -344,203,000 -343,959,000 -343,408,000 -343,428,000 -344,208,000 -342,272,000 -265,286,000 -218,795,000 -219,988,000 -200,882,000 -200,878,000 -201,024,000 -202,527,000 -167,403,000 -167,274,000 -133,777,000 -132,540,000 -118,065,000 -116,185,000 -116,318,000 -117,197,000 -116,579,000 -116,440,000 -115,572,000 -109,523,000 -109,299,000 -108,795,000 -108,486,000 -98,327,000 -98,286,000 -98,286,000 -98,256,000 -98,212,000 -98,188,000 -98,116,000 -97,687,000 -73,827,000 -73,226,000 -72,603,000 -68,741,000 -54,732,000 -54,681,000                              -7,091,000 -7,091,000 
      distributions to noncontrolling interests, net of contributions
    		-14,087,000 -15,250,000 -15,511,000                                                                         
      net cash from financing activities
    		-386,178,000 -266,004,000 -159,621,000 410,116,000 -342,834,000 -36,390,000 -233,182,000 -300,349,000 1,040,242,000 -74,160,000 -242,603,000 119,468,000 388,780,000 93,234,000 -169,621,000 191,493,000 28,442,000 -74,957,000 -311,689,000 451,052,000 79,606,000 -187,701,000 -101,486,000 106,051,000 -254,040,000 8,202,000 51,774,000 -15,792,000 -103,874,000 45,075,000 -172,660,000 126,017,000 -89,786,000 -124,647,000 -127,578,000 199,787,000 129,463,000 -5,575,000 137,156,000 18,449,000 1,070,290,000 196,019,000 1,713,000 125,437,000 -50,035,000 -39,423,000 112,328,000    106,920,000   36,797,000      -26,666,000 79,423,000 5,531,000 -21,727,000   -15,529,000 -145,584,000 274,297,000 -13,057,000 173,280,000 33,761,000 13,422,000 470,630,000 100,493,000 42,380,000 
      net decrease in cash, cash equivalents, and restricted cash
    		-12,454,000 5,640,000 -20,255,000   26,158,000 -49,697,000   2,471,000 -47,293,000   -2,500,000 -3,528,000          11,071,000 8,816,000 -25,862,000   15,042,000 -31,980,000                                             
      (gain) loss on real estate assets held for sale and sold
    		                                                                           
      repurchase of common stock
    		           0 0       0 -54,000 -15,615,000 -52,204,000                                                     
      cash, cash equivalents, and restricted cash, beginning of the period
    		 0 143,303,000 0 0 0 105,083,000 0 0 0 97,735,000 0 0 0 76,194,000 0 0 0 128,009,000 0 0 0 70,733,000 0 0 0 72,690,000 0 0 0 86,044,000                                             
      cash, cash equivalents, and restricted cash, end of the period
    		 5,640,000 123,048,000   26,158,000 55,386,000 -118,038,000 170,208,000 2,471,000 50,442,000 3,381,000 24,188,000 -2,500,000 72,666,000 -5,087,000 21,532,000 -3,046,000 62,795,000 47,435,000 18,823,000 -36,179,000 97,930,000 4,018,000 11,071,000 8,816,000 46,828,000    54,064,000                                             
      non-cash interest expense related to amortization of discount on life storage unsecured senior notes
    		  11,313,000 11,157,000 11,005,000 10,853,000 10,705,000                                                                     
      gain on real estate assets held for sale and sold
    		  -35,761,000                                                                         
      issuance and repurchase of notes receivable
    		  -182,079,000                                                                         
      cash and equivalents, including restricted cash at the beginning of the period:
    		                                                                           
      cash and equivalents
    		  138,222,000   0 99,062,000   0 92,868,000                                                                 
      restricted cash included in other assets
    		  5,081,000   0 6,021,000   0 4,867,000                                                                 
      cash and equivalents, including restricted cash at the end of the period:
    		                                                                           
      non-cash item - amortization of premium portion of dec 2024 300m bond add-on
    		                                                                           
      life storage merger, net of cash acquired
    		       0                                                                    
      cash paid for business combination
    		           -1,000 0                                                               
      proceeds from sale of real estate assets and investments in real estate ventures
    		   120,513,000    0 1,086,000   0 0   376,487,000                                                            
      principal payments received from notes receivable
    		   -13,008,000 106,516,000 35,632,000 11,823,000 68,678,000 27,048,000 24,638,000 21,828,000 18,862,000 41,001,000 27,970,000 195,803,000 14,589,000 16,448,000       6,650,000    0 0 16,054,000 9,172,000 0 0 0 44,869,000 1,392,000 0                                       
      issuance of loan collateralized with op units
    		                                                                           
      redemption of preferred op units for cash
    		                                                                           
      contributions from noncontrolling interests
    		   14,000                -2,000 0   27,000 96,000   0 2,000 0 120,000                                             
      distributions to noncontrolling interests
    		   -15,124,000 -15,876,000 -15,946,000 -16,231,000 -16,646,000 -14,960,000 -13,965,000 -14,078,000 -15,161,000 -14,395,000 -14,127,000 -14,110,000 -10,510,000 -10,585,000 -8,974,000 -9,025,000 -8,354,000 -8,371,000 -8,385,000 -8,505,000 -8,508,000 -8,618,000 -8,705,000 -8,412,000 -8,413,000 -8,460,000 -8,468,000 -7,909,000 -7,831,000 -7,816,000 -7,882,000 -8,443,000 -8,344,000 -8,353,000 -7,854,000 -6,446,000 -6,429,000 -6,501,000 -6,577,000 -4,996,000 -4,878,000                                
      net increase in cash, cash equivalents, and restricted cash
    		   48,978,000    -118,038,000    3,381,000    -5,087,000   -65,214,000 47,435,000   27,197,000     6,107,000                                                
      supplemental schedule of cash flow information
    		                                                                           
      interest paid
    		              43,197,000                                                             
      income taxes paid
    		              703,000                                                             
      supplemental schedule of noncash investing and financing activities:
    		                                                                           
      redemption of operating partnership units held by noncontrolling interests for common stock
    		                                                                           
      noncontrolling interests in operating partnership
    		                                                                           
      common stock and paid-in capital
    		                                                                           
      noncontrolling interests in operating partnership note receivable payoff
    		                                                                           
      redemption of preferred d units in the operating partnership for loans
    		                                                                           
      preferred op units redeemed
    		                                                                           
      note payable
    		                                                                           
      issuance of op and preferred op units in conjunction with business combination
    		                                                                           
      preferred op units issued
    		                                                                           
      op units issued
    		                                                                           
      conversion of preferred op units to common op units
    		                                                                           
      preferred op units
    		                                                                           
      common op units
    		                                                                           
      acquisition and establishment of operating lease right of use assets and lease liabilities
    		                                                                           
      real estate assets - operating lease right-of-use assets
    		                                                                           
      operating lease liabilities
    		                                                                           
      acquisitions of real estate assets
    		                                                                           
      real estate assets
    		                                                                   502,000        
      value of equity issued
    		                                                                           
      net liabilities assumed
    		                                                                           
      investment in unconsolidated real estate ventures
    		                       30,881,000 -2,317,000 -13,949,000 -17,395,000 -12,694,000 -18,054,000 -34,314,000 -438,000 -14,923,000 -351,000 -1,151,000 -1,519,000 -2,551,000 -6,381,000 -14,515,000 -4,794,000 -2,885,000                                    
      finance lease liability
    		                                                                           
      life storage merger real estate assets
    		                                                                           
      value of common stock issued
    		                                                                           
      unsecured senior notes
    		                                                                           
      value of op units issued
    		                                                                           
      accrued construction costs and capital expenditures
    		                                                                           
      acquisition of real estate assets
    		         -80,120,000 -47,296,000 -166,714,000 -686,490,000 -242,482,000 -195,805,000 -643,916,000 -214,173,000 -213,457,000 -161,752,000 -168,904,000 -105,998,000 -15,082,000 -30,164,000 -62,380,000 -38,306,000 -36,256,000 -212,552,000 -99,377,000 -88,858,000 -162,031,000 -76,122,000 -534,145,000 -46,389,000 -33,515,000 -39,136,000 -323,277,000 -327,948,000 -200,478,000 -234,820,000 -86,493,000 -22,512,000 -163,810,000 -77,082,000 -175,303,000                              -14,634,000 -55,327,000 
      buyback of bridge loan
    		                                                                           
      bridge loan receivable
    		                                                                           
      loss on real estate assets held for sale
    		    8,961,000                                                                       
      issuance and purchase of notes receivable
    		    -170,434,000 -411,263,000 -158,005,000 -119,787,000 -86,609,000 -65,725,000 -58,378,000 -214,703,000 -109,612,000 -70,522,000 -134,408,000 -174,212,000 -74,747,000 -42,751,000 -25,772,000 -163,605,000                                                        
      proceeds from unsecured term loans and senior notes and revolving lines of credit
    		    2,278,892,000 1,584,000,000 1,679,470,000                                                                     
      principal payments on unsecured term loans and senior notes and revolving lines of credit
    		    -2,655,514,000 -1,260,191,000 -2,147,191,000                                                                     
      redemption of preferred a units for cash
    		                                                                           
      proceeds from share issuances and redemption of stock options for cash
    		     -226,000 592,000                                                                     
      gain on real estate transactions
    		           0 0   -76,877,000 0 0 -63,883,000      0                                                   
      equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets
    		                                                                           
      proceeds from the sale of common stock, net of offering costs
    		               -169,000 -151,000 -211,000 273,720,000     -25,000 100,056,000   56,451,000        1,000 50,054,000 -205,000 73,574,000 -32,000 30,266,000          -6,000                         
      proceeds from principal payments on note receivable collateralized by op units
    		                0                                                           
      net proceeds from exercise of stock options
    		               0 318,000 0 4,254,000 1,889,000 1,200,000 726,000 944,000 233,000 603,000 470,000 1,757,000 -1,000 0 371,000 799,000 0    1,132,000 -1,000 300,000 13,000 118,000 322,000 132,000 970,000 378,000 166,000 1,495,000 1,056,000 324,000 3,917,000 1,635,000 2,793,000 3,694,000 2,444,000 1,609,000 1,947,000 8,558,000 1,396,000 3,218,000 487,000    1,045,000 238,000 634,000 306,000 301,000 732,000 -19,000       
      distributions to minority investors
    		                                                                           
      redemption of preferred operating partnership units for common stock
    		                                                                           
      preferred operating partnership units
    		                                                                           
      additional paid-in capital
    		                                                                           
      establishment of finance lease assets and lease liabilities
    		                                                                           
      non-cash interest expense related to fair value of life storage public bonds and amortization of discount on equity portion of exchangeable senior notes
    		                                                                           
      compensation expense related to stock-based awards
    		        6,994,000 6,940,000 5,499,000 5,955,000 5,644,000 5,245,000 4,542,000 4,656,000 4,012,000 4,983,000 3,652,000 4,965,000 3,452,000 4,884,000 2,980,000 3,064,000 3,035,000 3,998,000 2,954,000 2,721,000 2,613,000 3,116,000 2,726,000 2,317,000 2,289,000 2,965,000 1,990,000 2,037,000 1,915,000 2,383,000 1,710,000 1,670,000 1,590,000 1,653,000 1,142,000 1,129,000 1,056,000 1,678,000 1,121,000 1,069,000 1,562,000 1,023,000 997,000 1,364,000 957,000 1,184,000 1,585,000 1,126,000 1,055,000 1,483,000 919,000 792,000 1,261,000 899,000              
      proceeds from notes payable and revolving lines of credit
    		        2,715,073,000 1,098,000,000 1,381,592,000 1,204,146,000 2,035,208,000 1,058,828,000 889,829,000 1,343,632,000 951,000,000 625,000,000 1,747,000,000 1,862,000,000 825,000,000 326,000,000 268,000,000 706,000,000 751,000,000 333,000,000 424,000,000 439,644,000 328,000,000 483,386,000 162,000,000 302,453,000 370,724,000 483,446,000 169,000,000                                         
      principal payments on notes payable and revolving lines of credit
    		        -1,371,377,000 -1,367,329,000 -1,879,049,000 -865,819,000 -1,426,350,000 -684,607,000 -1,230,924,000 -973,741,000 -1,333,524,000 -999,616,000 -2,193,409,000 -821,980,000 -626,061,000 -374,181,000 -192,508,000 -474,119,000 -979,316,000 -299,350,000 -225,020,000 -321,915,000 -300,923,000 -318,812,000 -168,204,000 -68,535,000 -333,701,000 -498,527,000 -187,916,000                                         
      redemption of operating partnership units held by noncontrolling interests
    		           -1,113,000 0 -832,000 -2,672,000 -316,000 0   0        0 0 0 -2,558,000 0 0 -756,000 -1,754,000                                         
      redemption of preferred b units for cash
    		           0 0 -1,125,000 -3,375,000                                                             
      redemption of preferred units for cash
    		         0 -5,000,000                                                                 
      non-cash interest expense related to amortization of discount on equity component of exchangeable senior notes
    		                   0 1,233,000 1,233,000 1,209,000 1,209,000 1,186,000 1,185,000 1,162,000 1,162,000 1,140,000 1,176,000 1,209,000 1,276,000 1,268,000 1,290,000 1,269,000 1,264,000 1,243,000 1,240,000 1,233,000 1,112,000 805,000 696,000 697,000 679,000 679,000 663,000 662,000                             
      investment in debt securities
    		                                                                           
      repurchase of exchangeable senior notes
    		                           0 -21,801,000 -5,000 -58,464,000 -190,000    -3,000 0 -2,553,000 -19,639,000                                     
      notes payable assumed
    		                                                                           
      equity in earnings of unconsolidated real estate ventures - gain on sale of real estate assets and purchase of joint venture partner's interest
    		               0 0                                                           
      distributions from unconsolidated real estate ventures in excess of earnings
    		            3,176,000 3,409,000 2,795,000 2,395,000 1,614,000 1,163,000 1,863,000 1,796,000 843,000 1,715,000 2,539,000 1,606,000 1,418,000 1,602,000 1,732,000 1,632,000 1,620,000 2,114,000 1,501,000 1,069,000 1,133,000 1,242,000 1,123,000 463,000 1,135,000 938,000 998,000 511,000 561,000 858,000 2,601,000 521,000 562,000 2,403,000 1,024,000 1,614,000 770,000 1,154,000                          
      principal payments on notes payable to trusts
    		                       0 0 0 -30,928,000 -67,012,000                                                
      proceeds from principal payments on notes receivable collateralized by op units and preferred op units
    		                                                                           
      contribution of preferred op units to unconsolidated real estate venture
    		                                                                           
      investments in unconsolidated real estate ventures
    		                                                                           
      value of preferred operating partnership units issued
    		                                                                           
      issuance of preferred op units for additional investment in unconsolidated real estate venture
    		                                                                           
      value of operating partnership and preferred operating partnership units issued
    		                                                                           
      proceeds from principal payments on note receivable collateralized by preferred op units
    		                   7,987,000                                                        
      establishment of operating lease right of use assets and lease liabilities
    		                                                                           
      value of operating partnership units issued
    		                                                                           
      gain on real estate transactions and impairment of real estate
    		                                                                           
      other noncontrolling interests
    		                                                                           
      proceeds from sale of real estate assets, investments in real estate ventures and other assets
    		                        0   569,000 51,136,000 0 753,000 293,600,000 18,464,000                                           
      non-cash interest expense related to amortization of premium on notes payable
    		                                   -44,000 -132,000 -342,000 -354,000 -363,000 -364,000 -935,000 -747,000                                 
      gain on sale of real estate assets and purchase of joint venture partners' interests
    		                                   -4,767,000 -37,509,000                                       
      gain on real estate transactions, earnout on prior acquisitions and impairment of real estate
    		                                                                           
      proceeds from termination of interest rate cap
    		                                   0 0 0 1,650,000                                     
      payment of earnout from prior acquisition
    		                                   0                                        
      cash, cash equivalents, and restricted cash end of the period
    		                           6,107,000 -2,523,000                                               
      tax effect from vesting of restricted stock grants and option exercises
    		                                                                           
      distribution of real estate from investments in unconsolidated real estate ventures
    		                                                                           
      disposition of real estate assets
    		                                                                           
      operating partnership units redeemed
    		                                                                           
      acquisition of noncontrolling interests
    		                                                                           
      operating partnership units issued
    		                                                                           
      (gain) loss on real estate transactions and impairment of real estate
    		                                                                           
      loss on real estate transactions and impairment of real estate
    		                                                                           
      gain on real estate transactions, earnout from prior acquisition and impairment of real estate
    		                                                                           
      receivables from related parties and affiliated real estate joint ventures
    		                               1,771,000 58,000 1,575,000 -1,438,000 444,000 -797,000 4,598,000 -2,878,000 811,000 -945,000 1,065,000 -2,367,000 505,000    -4,670,000   5,046,000 -561,000 3,102,000  844,000 549,000  2,415,000 352,000                 
      acquisition of smartstop, net of cash acquired
    		                                                                           
      change in restricted cash
    		                               -13,084,000 -513,000 -4,533,000 1,653,000 2,558,000 -1,210,000 16,771,000 -1,265,000 204,666,000 -203,205,000 9,926,000 -10,105,000 960,000 -5,554,000 -625,000 1,425,000      1,495,000    806,000 -737,000 6,246,000   3,811,000   236,000 -1,114,000      1,615,000  -486,000 -1,080,000 
      purchase/issuance of notes receivable
    		                                   -7,899,000 -7,874,000 0 -10,656,000                                     
      net proceeds from the issuance of 2015 exchangeable senior notes
    		                                                                           
      purchase of interest rate cap
    		                                                                           
      net increase in cash and cash equivalents
    		                               -8,049,000        -1,039,733,000 939,639,000   -1,553,000    -125,233,000 171,357,000 4,790,000 -141,894,000 147,927,000 11,091,000       -30,559,000   -73,761,000 164,827,000 3,633,000    -80,885,000       
      cash and cash equivalents, beginning of the period
    		                               0 0 0 43,858,000 0 0 0 75,799,000 0 0 0 47,663,000 0 0 0 126,723,000 0 0 30,785,000 0 0 26,484,000 0 0 46,750,000 0 0 131,950,000 0 0 63,972,000 0 0 17,377,000 0 0 70,801,000  0 0 28,653,000 0 0 24,329,000 
      cash and cash equivalents, end of the period
    		                               -8,049,000 32,084,000 2,337,000 29,311,000 25,166,000 -22,366,000 -8,695,000 49,753,000 -1,039,733,000 939,639,000 130,589,000 45,304,000 -1,553,000 -4,729,000 6,930,000 47,015,000 -125,233,000 171,357,000 35,575,000 -141,894,000 147,927,000 37,575,000 -1,292,000 -7,368,000 42,555,000 -6,556,000 -80,386,000 108,740,000 -30,559,000 77,073,000 54,478,000 -73,761,000 164,827,000 21,010,000 -3,960,000 10,679,000 35,111,000  147,436,000 -6,811,000 11,061,000 -87,949,000 82,756,000 12,286,000 
      gain on sale of real estate assets and purchase of joint venture partner's interest
    		                                                                           
      (gain) loss on real estate transactions, earnout from prior acquisition and impairment of real estate
    		                                0                                           
      gain on purchase of joint venture partner's interest
    		                                                                           
      net decrease in cash and cash equivalents
    		                                 2,337,000 -14,547,000  -22,366,000 -8,695,000 -26,046,000    -2,359,000                                -12,043,000 
      redemption of operating partnership units held by noncontrolling interests for common stock:
    		                                                                           
      loss on earnout from prior acquisition
    		                                                                           
      gain on real estate transactions, earnout from prior acquisition and sale of other assets
    		                                                                           
      property casualty loss
    		                                                                           
      gain on real estate transactions and earnout from prior acquisition
    		                                    0                                       
      net proceeds from the issuance of exchangeable senior notes
    		                                                                           
      proceeds from notes payable and lines of credit
    		                                    534,095,000 296,904,000 195,976,000 403,049,000 826,613,000 601,372,000 290,768,000 411,707,000 84,000,000 130,800,000 291,157,000 96,895,000 186,184,000 81,776,000 314,174,000 119,511,000 206,970,000 105,556,000 155,828,000 108,858,000 27,031,000 96,651,000 7,442,000 105,333,000                
      principal payments on notes payable and lines of credit
    		                                    -342,618,000 -190,064,000 -32,859,000 -297,506,000 -42,408,000 -744,778,000 -228,878,000 -220,841,000                                
      gain on sale of real estate assets and purchase of joint venture partners’ interests
    		                                      -26,923,000 0 0 0 -2,857,000                                 
      loss on real estate transactions and earnout from prior acquisition
    		                                      -1,544,000                                     
      gain on real estate transactions and earnout from prior acquisitions
    		                                       0                                    
      loss on extinguishment of debt related to portfolio acquisition
    		                                                                           
      gain on sale of real estate assets
    		                                                                           
      paid-in capital
    		                                                                           
      notes payable assumed and immediately defeased
    		                                                                           
      repurchase of 2013 exchangeable senior notes
    		                                                                           
      gain on earnout related to prior acquisitions
    		                                                                           
      loss on earnout related to prior acquisition
    		                                           0 -5,285,000                               
      non-cash interest benefit related to amortization of premium on notes payable
    		                                           -729,000                                
      gain on purchase of joint venture partners’ interests
    		                                           0                                
      redemption of operating partnership units held by noncontrolling interest
    		                                                                           
      notes payable issued to seller
    		                                                                           
      purchase of notes receivable
    		                                                                           
      acquisition, development and redevelopment of real estate assets
    		                                                                           
      non-cash interest expense related to amortization of discount on exchangeable senior notes
    		                                               834,000   0 0 444,000 440,000 440,000 428,000 416,000 416,000 404,000 430,000 563,000 841,000              
      net proceeds from issuance of exchangeable senior notes
    		                                               0                            
      principal payments on notes payable and lines of credit, including defeasance
    		                                                                           
      gain on purchase of joint venture partners’ interest
    		                                                                           
      return of investment in real estate ventures
    		                                                  0 356,000 1,492,000                       
      gain on purchase of joint venture partner’s interest
    		                                                                           
      distributions from real estate ventures in excess of earnings
    		                                                  1,456,000 -403,000 589,000 -504,000 3,856,000 1,313,000 1,735,000 1,744,000 1,351,000 1,529,000 1,596,000 1,540,000 1,601,000 1,176,000 1,224,000   681,000 2,136,000 1,143,000 977,000 1,303,000    
      development and construction of real estate assets
    		                                                                         -1,806,000 -1,067,000 
      investments in real estate ventures
    		                                                                         -1,714,000 -8,000 
      non-cash reduction in interest expense related to amortization of premium on note payable
    		                                                                           
      loss on sublease
    		                                                                           
      proceeds from sale of properties to joint venture
    		                                                        0 0 15,750,000                 
      purchase of affiliated joint venture note receivable
    		                                                                           
      proceeds from the sale of common stock, net of transaction costs
    		                                                                           
      investments from noncontrolling interests
    		                                                                           
      proceeds from the sale of common stock
    		                                                                           
      distributions to noncontrolling interests in operating partnership
    		                                                                           
      gain on repurchase of exchangeable senior notes
    		                                                                           
      non-cash unrecovered development and acquisition costs
    		                                                                           
      severance costs
    		                                                                           
      investments from other noncontrolling interests
    		                                                                           
      unrecovered development and acquisition costs
    		                                                           22,000                
      loss on investments available for sale
    		                                                                           
      severance costs associated with wind-down of development program
    		                                                           0                
      net proceeds from sale of investments available for sale
    		                                                                           
      proceeds from issuance of common shares
    		                                                              0      -427,000    -28,000   
      interest paid, net of amounts capitalized
    		                                                           14,254,000 16,667,000 15,085,000      12,018,000   12,209,000 10,964,000    
      conversion of operating partnership units held by noncontrolling interests for common stock
    		                                                           0                
      receivables from related parties
    		                                                                 -2,724,000 -2,355,000 9,914,000 -8,816,000 4,729,000 4,797,000 7,093,000  -1,010,000 247,000 
      proceeds from notes payable and line of credit
    		                                                             150,586,000              
      principal payments on notes payable and line of credit
    		                                                                           
      fair value adjustment of obligation associated with preferred operating partnership units
    		                                                                           
      loss on sale of investments available for sale
    		                                                                1,415,000           
      stock compensation expense
    		                                                              820,000 1,184,000 800,000 736,000 439,000 436,000 348,000 361,000 630,000 386,000    
      income allocated to minority interests
    		                                                              619,000 500,000 371,000 756,000          
      net proceeds from sale of (purchases of) investments available for sale
    		                                                                           
      proceeds from exchangeable senior notes
    		                                                                 0 0 250,000,000        
      proceeds from notes payable, notes payable to trusts and line of credit
    		                                                              679,000 2,202,000 1,182,000 3,955,000 693,000 45,454,000 36,540,000 31,524,000      
      loan to preferred operating partnership unit holder
    		                                                                           
      minority interest investments
    		                                                                        0   
      redemption of operating partnership units held by minority interest
    		                                                                           
      distributions to operating partnership units held by minority interest
    		                                                                           
      net proceeds from (purchases of) investments available for sale
    		                                                               0 21,812,000           
      loan to preferred op unit holder
    		                                                                           
      accounts payable
    		                                                                3,441,000         -338,000 -1,825,000 
      distributions from operations of real estate ventures in excess of earnings
    		                                                                 1,122,000          
      net purchases of short-term investments
    		                                                                           
      principal payments received on notes receivable
    		                                                                    1,688,000 5,000 -246,000 364,000    
      amortization of deferred stock compensation
    		                                                                           
      gain allocated to minority interests
    		                                                                   400,000 400,000 306,000 225,000 54,000    
      accrued interest on notes receivable
    		                                                                           
      purchase of short-term investments
    		                                                                           
      distributions to operating partnership units held by minority interests
    		                                                                           
      acquisitions:
    		                                                                           
      investment in real estate ventures
    		                                                                           
      amortization of discount on putable preferred interests in consolidated joint ventures
    		                                                                           
      minority interest—fidelity preferred return
    		                                                                           
      member units granted to employees
    		                                                                           
      investments in trust preferred securities
    		                                                                           
      acquisition of storage usa
    		                                                                           
      increase in cash resulting from de-consolidation of real estate assets and distribution of equity ownership in extra space development and other properties
    		                                                                           
      payments from centershift and extra space development
    		                                                                           
      payments on other liabilities
    		                                                                           
      net payments to related parties and putable preferred interests in consolidated joint ventures
    		                                                                           
      member contributions
    		                                                                           
      return paid on class b, c and e member units
    		                                                                           
      redemption of units
    		                                                                           
      minority interest distributions
    		                                                                           
      minority interest redemption by fidelity
    		                                                                           
      preferred return paid to fidelity
    		                                                                           
      cash and cash equivalents, beginning of the year
    		                                                                           
      cash and cash equivalents, end of the year
    		                                                                           
      payables to related parties
    		                                                                           
      notes payable
    		                                                                           
      notes receivable
    		                                                                           
      accounts payable and other liabilities
    		                                                                           
      minority interest in operating partnership
    		                                                                           
      member units
    		                                                                           
      member units issued in exchange for receivables
    		                                                                           
      member units issued to repay notes and related party payables
    		                                                                           
      redemption of units in exchange for note payable
    		                                                                           
      adjustment to establish minority interest in operating partnership
    		                                                                           
      redemption of units in exchange for land
    		                                                                           
      restricted stock grants to employees
    		                                                                           
      conversion of operating partnership units held by minority interests for common stock
    		                                                                           
      proceeds from exercise of stock options
    		                                                                      36,000 91,000    
      proceeds from notes payable, notes payable to trust and line of credit
    		                                                                       30,635,000    
      amortization of deferred compensation
    		                                                                           
      minority interest - fidelity preferred return
    		                                                                           
      loss allocated to minority interests
    		                                                                           
      distributions from cumulative earnings from real estate ventures
    		                                                                           
      interest accrued on notes receivable
    		                                                                           
      increase in cash due to changes in:
    		                                                                           
      advances to centershift and extra space development
    		                                                                           
      proceeds from line of credit and notes payable
    		                                                                        528,863,000 69,469,000 53,257,000 
      payments on line of credit and notes payable
    		                                                                         -40,534,000 -2,765,000 
      redemption of operating partnership units
    		                                                                           
      distributions to operating partnership unit holders
    		                                                                         -621,000 -621,000 
      income allocated to other minority interests
    		                                                                         -110,000 -56,000 
      (gain) loss on sale of real estate assets
    		                                                                           
      distributions of cumulative earnings from real estate ventures
    		                                                                         62,000 69,000 
      purchase of equipment
    		                                                                         -286,000 -197,000 
      minority interest investment (redemption) by fidelity
    		                                                                           
      accrued interest on advances to centershift
    		                                                                           
      payments from (advances to) centershift and extra space development
    		                                                                           
      net advances from (payments to) related parties and putable preferred interests in consolidated joint ventures
    		                                                                           
      increase in cash resulting from de-consolidation of real estate assets
    		                                                                           
      proceeds from borrowings
    		                                                                           
      payments on borrowings
    		                                                                           
      member units issued in exchange for cash
    		                                                                           
      return paid on member units
    		                                                                           
      redemption of fidelity minority interest
    		                                                                           
      net decrease in cash
    		                                                                           
      cash, beginning of period
    		                                                                           
      cash, end of period
    		                                                                           
      1.
    		                                                                           
      loss allocated to minority interest
    		                                                                           
      equity in earnings of real estate ventures
    		                                                                           
      investment in real estate assets
    		                                                                           
      return paid on class c and class e units
    		                                                                           
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.