{
  "report_rows": [
    {
      "kpi": "Q2 2026 adjusted FFO per share",
      "prediction": "BEAT",
      "answer": "pred ~$0.45 vs. cons $0.44",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 lab total occupancy",
      "prediction": "IN-LINE",
      "answer": "pred ~77.4% vs. cons 77.5%",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Q2 2026 total same-store adjusted NOI growth",
      "prediction": "BEAT",
      "answer": "pred ~0.9% vs. cons 0.7%",
      "confidence": "LOW"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Adjusted FFO per share guidance",
      "prediction": "UNCHANGED",
      "answer": "guide ~$1.75 midpoint ($1.73\u2013$1.77) vs. cons $1.75 (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Total same-store adjusted NOI growth guidance",
      "prediction": "LOWER",
      "answer": "guide ~0.0% midpoint (-1.0% to 1.0%) vs. cons 0.3% (FY2026)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Lab total occupancy guidance",
      "prediction": "LOWER",
      "answer": "guide ~78.0% or better vs. cons 78.2% (year-end 2026)",
      "confidence": "MEDIUM"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.7,
  "day5_path": "FADE",
  "day5_rationale": "Day-1 residual of +1.8% fades to a +0.7% five-day residual: a modest Q2 FFO beat and stable lab trajectory support the initial reaction, but a ~$1.75 FY2026 guidance midpoint versus ~$1.75 consensus implies roughly $0.425 per quarter in 2H after two ~$0.45 quarters, limiting upward revisions as refinancing and asset-recycling dilution enter the out-period math.",
  "day5_confidence": "MEDIUM"
}