{
  "report_rows": [
    {
      "kpi": "Same-Property NOI Growth (2Q 2026)",
      "prediction": "MISS",
      "answer": "pred ~3.0% vs. cons 4.64%",
      "confidence": "HIGH"
    },
    {
      "kpi": "Operating FFO/Share (2Q 2026)",
      "prediction": "BEAT",
      "answer": "pred ~$1.16 vs. cons $1.148",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Cash Leasing Spreads (2Q 2026)",
      "prediction": "BEAT",
      "answer": "pred ~12.5% vs. cons 11.2%",
      "confidence": "HIGH"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Same-Property NOI Growth (FY 2026)",
      "prediction": "LOWER",
      "answer": "guide ~3.25-3.75% vs. cons 4.31%",
      "confidence": "HIGH"
    },
    {
      "kpi": "Nareit FFO/Share (FY 2026)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$4.85 vs. cons $4.856",
      "confidence": "HIGH"
    },
    {
      "kpi": "Qualitative: H2 trajectory / development pipeline",
      "prediction": "UNCHANGED",
      "answer": "Reiterate SNO pipeline and back-half dev starts; no formal raise",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": -1.5,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": -2.5,
  "day5_path": "STABILIZE",
  "day5_rationale": "STABILIZE -- estimate cuts on SS NOI pull FY consensus toward guided range; leasing beat limits further downside",
  "day5_confidence": "MEDIUM"
}