{
  "report_rows": [
    {
      "kpi": "Q2 2026 AFFO per share",
      "prediction": "BEAT",
      "answer": "pred ~$2.75 vs. cons $2.71",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 adjusted EBITDA",
      "prediction": "BEAT",
      "answer": "pred ~$1.81B vs. cons $1.79B",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 total property revenue",
      "prediction": "IN-LINE",
      "answer": "pred ~$2.67B vs. cons $2.65B",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "AFFO per share guidance",
      "prediction": "BETTER",
      "answer": "guide ~$11.03 vs. cons $10.97 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Adjusted EBITDA guidance",
      "prediction": "BETTER",
      "answer": "guide ~$7.26B vs. cons $7.23B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total property revenue guidance",
      "prediction": "BETTER",
      "answer": "guide ~$10.70B vs. cons $10.66B (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Organic tenant billings growth guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~1.0% vs. cons 1.0% (FY2026)",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": 2.3,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 1.4,
  "day5_path": "FADE",
  "day5_rationale": "The FY2026 AFFO midpoint of ~$11.03 versus consensus of $10.97 implies H2 AFFO per share of ~$5.44 after predicted H1 AFFO of $5.59, only modestly above the consensus-implied H2 requirement of ~$5.42. Limited out-period estimate upside and an FX-heavy guidance increase should cause part of the initial beat reaction to fade.",
  "day5_confidence": "MEDIUM"
}