{
  "report_rows": [
    {
      "kpi": "Normalized FFO / share (Q2'26)",
      "prediction": "BEAT",
      "answer": "pred ~$1.57 vs. cons $1.55",
      "confidence": "HIGH"
    },
    {
      "kpi": "SHOP same-store NOI growth (Q2'26 YoY)",
      "prediction": "BEAT",
      "answer": "pred ~21% vs. cons ~19%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total portfolio same-store NOI growth (Q2'26 YoY)",
      "prediction": "BEAT",
      "answer": "pred ~15.5% vs. cons ~14%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Normalized FFO/share guide (midpoint)",
      "prediction": "BETTER",
      "answer": "guide ~$6.36 midpoint vs. cons $6.32 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 SHOP SSNOI growth guide",
      "prediction": "BETTER",
      "answer": "guide ~18%-22% (mid ~20%) vs. cons/prior ~19% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 total SSNOI growth guide",
      "prediction": "BETTER",
      "answer": "guide ~14.5% vs. prior ~13.75% (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": -2.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -4.0,
  "day5_path": "FADE",
  "day5_rationale": "Stock is up ~19% in the month and ~35% YTD into the print, trading above the ~$237 avg target \u2014 priced for perfection. A likely beat-and-modest-raise clears the number but not the elevated bar, so a 'great-quarter-but-priced-in / sell-the-news' reaction is probable. Out-period math caps upside: $11B+ of 2025-26 dispositions are near-term dilutive, so even after the beat the implied H2 run-rate/raise (~$6.36 vs Street $6.32) is smaller than the headline beat suggests, limiting positive FFO revisions and letting profit-taking extend over the week.",
  "day5_confidence": "LOW"
}