| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 4, 2026 | 8/12 | 3 high, 4 medium, 1 low flags | 1 | 0 | Call sheet → |
| Q1'26 | April 28, 2026 | 9/12 | 2 high, 3 medium, 2 low flags | 2 | 1 | Call sheet → |
| Q4'25 | January 27, 2026 | 10/12 | 1 high, 5 medium, 1 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | Our team is making good progress with about 80% of the 2.9 billion midpoint for dispositions and sales of partial interest pending or identified in process Metric redefined this quarter into 46% completed/pending plus 38% in process (84% combined), making direct comparison imprecise; underlying $2.9B target itself remains unmet. |
| Q2'26 | Pending | We reiterated our guidance range for 4Q26 net debt to annualize adjusted EBITDA of 5.6 to 6.2 times Year-end target not yet reached; actual Q2 leverage rose to 7.0x from 6.8x in Q1, widening the gap to the reaffirmed target. |
| Q2'26 | Pending | We refined this range to $1.40 to $1.50 for 4Q26 FFO per share diluted as adjusted Q4 2026 has not occurred; management now guides to the 'lower end' of that same range, a within-range downward revision, not a miss or delivery yet. |
| Q2'26 | Pending | We updated the midpoint of our guidance range for year-end 2026 occupancy from 88.5% to 87% Year-end period not ended; current occupancy of 86.9% is already below the stated 87% midpoint. |
| Q2'26 | Pending | Our guidance assumes a weighted average completion date of August 2026 for dispositions Full disposition program not yet complete; the specific August completion assumption has already slipped to September, a revision rather than a final outcome. |
| Q2'26 | Pending | We reiterated our guidance range for realized investment gains of 60 to 90 million for 2026 Full year period not ended; only $28.5 million booked through 1H26 against the $60-90M range, implying a steep back-half acceleration is required. |
| Q2'26 | Exceeded | We do expect an uptick in total leasing volume of around 900,000 square feet Actual leasing volume came in at 1,039,000 sf, a clear beat versus the prior-quarter indication. |
| Q1'26 | Pending | Maintain strong and flexible balance sheet Leverage at 6.8x, expecting to come down in H2 2026 with dispositions |
| Q1'26 | Pending | Meet or exceed disposition guidance of $2.9B On track with 80% pending/identified, high confidence expressed |
| Q1'26 | Delivered | Continue G&A cost savings $7.4M quarterly savings vs 2024 average maintained |
| Q1'26 | Missed | Steadily improve occupancy focused on leasing Occupancy down 320bps in Q1, guidance cut 150bps for year-end |
| Q1'26 | Delivered | Reduce CapEx and funding needs going forward Capitalized interest down $12M QoQ, multiple projects paused or evaluated for pivot |
| Q1'26 | Pending | Substantially complete large-scale noncore disposition plan in 2026 80% of $2.9B identified but weighted average close pushed to August vs July initial guidance |
| Q4'25 | Delivered | Target leverage of 5.5-6.0x by year-end 2025 Achieved 5.7x, in line with target range due to disposition execution |
| Q4'25 | Pending | Realized investment gains of $100-120M for 2025 Achieved $95M through Q3, implied $15M in Q4 vs $32M quarterly average - likely missed low end |
| Q4'25 | Delivered | Complete $1.5B dispositions in 2025 Completed exactly $1.5B with $1B closing in Q4 across 26 transactions |
| Q4'25 | Exceeded | Approximately $49M G&A savings for 2025 Delivered $51.3M savings, 30% reduction vs 2024, beating target |
| Q4'25 | Delivered | FFO per share of $9.01 midpoint for 2025 Hit exactly at midpoint despite reducing guidance by $0.25 in Q3 |
| Q4'25 | Delivered | Year-end 2025 occupancy range of 90% to 91.6% midpoint Achieved 90.9%, which was 10 bps above guidance midpoint of 90.8% |
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