The company acquired two self-storage facilities with 0.1 million net rentable square feet for a total cost of $22.0 million in cash during the six months ended June 30, 2024.

The company completed development and redevelopment activities costing $119.9 million, adding 0.7 million net rentable square feet of self-storage space during the six months ended June 30, 2024.

The company sold a land parcel for $2.4 million in cash and recorded gains on sale of real estate of $0.9 million during the six months ended June 30, 2024.

The company has implemented various initiatives to manage inflationary impacts, such as enhancements in operational processes, investments in technology, and investments in solar power and LED lights.

The company has embarked on a multi-year Property of Tomorrow program to rebrand properties and upgrade customer zones, with approximately $63 million spent in the six months ended June 30, 2024 and expected to spend $150 million over 2024.

The company has embarked on a solar program, with installations completed on 572 facilities through June 30, 2024, spending approximately $26 million in the six months ended June 30, 2024 and expecting to spend $100 million over 2024.

The company expects the trend of softening demand to continue during the remainder of 2024.

The company has experienced recent inflationary impacts on cost of operations including labor, utilities, and repairs and maintenance, and costs of development and expansion activities, and expects to experience such impacts in the future.

The company acknowledges the potential for adverse impacts from macroeconomic conditions and high interest rates on the company and its customers.

Revenues for Same Store Facilities decreased by 1.0% or $9.8 million in the three months ended June 30, 2024, primarily due to lower realized annual rent per occupied square foot and a decline in occupancy.

Combined net operating income generated by Acquired Facilities and Newly Developed and Expanded Facilities increased by 81.3% or $35.3 million in the three months ended June 30, 2024.

The company experienced lower move-out volumes in Q2 2024, which contributed to a stronger average length of stay for tenants and supported revenue growth.

Cost of operations for Same Store Facilities increased by 0.9% or $1.9 million in the three months ended June 30, 2024, primarily due to increased property tax expense partially offset by decreased on-site property manager payroll.

On-site property manager payroll expense decreased by 6.5% in the three months ended June 30, 2024, primarily due to reduction in labor hours driven by revisions in operational processes.

Utility expense decreased by 8.4% in the three months ended June 30, 2024, primarily due to decreases in utility rates and the company's investment in energy saving technology.

The company has made investments in technology to reduce payroll hours, as part of its efforts to manage inflationary impacts.

The company completed the implementation of a new ERP system during the second quarter of 2024, and modified existing and implemented new controls over financial reporting.

The company has made investments in solar power and LED lights to lower utility usage, as part of its efforts to manage inflationary impacts.

The company repurchased 726,865 common shares under the share repurchase program on the open market for a total cost of $200.0 million during the second quarter of 2024.

The company completed a public offering of $1.0 billion aggregate principal amount of senior notes, including $700 million of floating rate notes and $300 million of fixed rate notes, in Q2 2024.

The company repaid $700 million of floating rate senior notes at maturity in April 2024.

The company has made investments in solar power and LED lights to lower utility usage and reduce its environmental impact.

The 10-Q filing does not explicitly detail any specific environmental, social, or governance initiatives beyond the investments in energy saving technology.

The 10-Q filing does not explicitly mention any sustainability risks, although the company does address general economic and market risks.

The company expects the trend of softening demand to continue during the remainder of 2024.

The company has experienced recent inflationary impacts on cost of operations including labor, utilities, and repairs and maintenance, and costs of development and expansion activities, and expects to experience such impacts in the future.

The company acknowledges the potential for adverse impacts from macroeconomic conditions and high interest rates on the company and its customers.