{
  "report_rows": [
    {
      "kpi": "Nareit FFO per diluted share (Q2 2026)",
      "prediction": "IN-LINE",
      "answer": "pred ~$1.20 vs. cons $1.20",
      "confidence": "HIGH"
    },
    {
      "kpi": "Same Property NOI growth (Q2 2026, y/y)",
      "prediction": "IN-LINE",
      "answer": "pred ~2.5% vs. cons 2.6%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total Revenue (Q2 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$411M vs. cons $407M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "FY2026 Nareit FFO per share guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.85 (reaffirm $4.83-$4.87) vs. cons $4.85 (FY2026)",
      "confidence": "HIGH"
    },
    {
      "kpi": "FY2026 Same Property NOI growth guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~3.5% midpoint (reaffirm 3.25%-3.75%) vs. cons 3.5% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "FY2026 Development/redevelopment spend guidance",
      "prediction": "BETTER",
      "answer": "guide ~$350-375M vs. cons ~$340M (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Bad debt / uncollectible lease income commentary",
      "prediction": "UNCHANGED",
      "answer": "guide ~75bps of revenue (at/slightly below historical avg) vs. cons ~75bps (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 0.3,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.2,
  "day5_path": "STABILIZE",
  "day5_rationale": "Q2 softness in headline Same-Property NOI was explicitly pre-announced last quarter (tough expense-recovery comp), so it's already embedded in consensus/guidance and shouldn't trigger fresh downward revisions to FY26/FY27 estimates. With FY guidance merely reaffirmed (not raised) and no change to the out-period FFO growth algorithm, there's little forward-estimate math to drive a big multi-day move either way \u2014 the stock, already up ~22% off its Dec low and near 52-week highs heading into the print, likely sees a muted initial reaction that holds rather than extends (no re-rating catalyst) or reverses sharply (no real negative surprise given management pre-telegraphed the comp issue and peer BRX's beat-and-raise supports sector fundamentals).",
  "day5_confidence": "MEDIUM"
}