{
  "report_rows": [
    {
      "kpi": "Q2 Core FFO/share",
      "prediction": "BEAT",
      "answer": "pred ~$2.83 vs. cons $2.80",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 same-store residential revenue growth (YoY)",
      "prediction": "IN-LINE",
      "answer": "pred ~+1.8% vs. cons +1.7%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 total revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$781M vs. cons $778.7M",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Core FFO/share guidance (the swing factor)",
      "prediction": "BETTER",
      "answer": "guide raised to ~$11.35 mid vs. cons $11.30 (FY2026 Core FFO)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 same-store residential revenue guidance",
      "prediction": "BETTER",
      "answer": "guide low-end lifted, ~+1.6% mid vs. cons +1.7% (FY2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "2H26 blended lease rate change / rent ramp commentary",
      "prediction": "BETTER",
      "answer": "guide 2H blended ~+2.5% vs. 1H ~+1.25% (2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "A modest Core FFO beat plus a small full-year raise is the catalyst, but the upside is largely non-operational (buyback accretion + Q1 cost-timing) rather than accelerating organic growth. Implied back-half FFO is still ~flat YoY with SS revenue decelerating (mid ~+1.4-1.6%) and sticky opex, so out-period math limits how far estimates get revised up. With the stock near YTD highs (~$190-195, +18% off March lows, Zacks Rank 4/consensus PT ~$196), the initial pop invites profit-taking and roughly half the day-1 gain fades over the week absent a bigger-than-expected guide.",
  "day5_confidence": "LOW"
}