{
  "report_rows": [
    {
      "kpi": "Core FFO per share (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$4.32 vs. cons $4.26",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Same-Store Revenue Growth YoY (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~-0.3% vs. cons -1.3%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Same-Store NOI Growth YoY (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~-0.8% vs. cons -2.0%",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Core FFO per share guidance (post-NSA)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$16.90 vs. cons $16.94 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Same-Store Revenue growth guidance",
      "prediction": "BETTER",
      "answer": "guide ~0.0% vs. cons -1.1% (FY2026, prior range midpoint)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Same-Store NOI growth guidance",
      "prediction": "BETTER",
      "answer": "guide ~-1.5% vs. cons -2.2% (FY2026, prior range midpoint)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.2,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.3,
  "day5_path": "FADE",
  "day5_rationale": "PSA has already rallied ~28% YTD into the print (near $330, close to Street mean target of $332), and management explicitly framed NSA as roughly FFO-neutral in 2026 (accretion of $0.10-$0.20 only arrives in 2027, $0.35-$0.50 at 2028-29 stabilization). Consensus FY26 Core FFO of ~$16.94 already sits near the top of the pre-NSA $16.35-$17.00 range, leaving little room for a dramatic raise; any reaffirm-rather-than-raise outcome, plus new pro-forma leverage/dilution details from the ~$900M debt raise and share issuance, gives analysts reason to trim out-quarter FFO/share estimates even after a same-store beat, causing the initial pop to partially fade over the week as the market digests integration/leverage complexity versus the cleaner EXR beat-and-raise the day before.",
  "day5_confidence": "LOW"
}