{
  "report_rows": [
    {
      "kpi": "Core FFO per share (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$2.10 vs. cons $2.08",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total/Same-Store Revenue (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$558.5M vs. cons $557.3M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Blended Lease-over-Lease Rate Growth (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~1.1% vs. cons/implied-guide-bridge ~0.5%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Core FFO guidance (full-year range/midpoint)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$8.55 vs. cons $8.53 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Same-Store NOI growth guidance",
      "prediction": "BETTER",
      "answer": "guide ~-0.50% vs. cons/prior-midpoint -0.70% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q3 2026 Core FFO guidance",
      "prediction": "UNKNOWN",
      "answer": "guide ~$2.14 vs. cons $2.14 (Q3 2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.0,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -0.4,
  "day5_path": "FADE",
  "day5_rationale": "A confirmed sequential new-lease acceleration and cost-control beat should produce a modest positive day-1 pop since expectations were already de-risked (stock down from $139 to $135.67, tightened but still-negative full-year same-store NOI guide). However, the underlying full-year NOI outlook stays negative and rising interest expense (financing the Sept. $300M maturity, buybacks, delayed-draw term loan) keeps out-year FFO growth capped, so sell-side models likely trim 2027 estimates even after an in-line/slight-beat quarter, causing initial gains to partially fade over the following days as the 'still a transition year' framing reasserts itself.",
  "day5_confidence": "LOW"
}