| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q1'26 | April 29, 2026 | 9/12 | 5 low flags | 5 | 1 | Call sheet → |
| Q4'25 | February 6, 2026 | 10/12 | 2 medium, 4 low flags | 7 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q1'26 | Missed | Boston seasonal strength Boston outlook 'moderated' due to weather and Cambridge life science funding |
| Q1'26 | Delivered | AI deployment benefits in screening/delinquency 6 months into deployment with measurable bad debt improvements |
| Q1'26 | Exceeded | Continued share repurchase activity $220M in Q1 vs expected moderate activity, $500M total since August |
| Q1'26 | Delivered | Concession reduction as supply pressure eases Concessions down 21% portfolio-wide with elimination in key SF submarkets |
| Q1'26 | Delivered | San Francisco and New York continued strength Both markets exceeded expectations with SF posting near 10% new lease growth |
| Q1'26 | Delivered | Expected deliveries down 35% in 2026 Confirmed 35% decline, equating to 40,000 fewer units as promised |
| Q4'25 | Delivered | Asset sales to fund buybacks from lower growth properties $500M net proceeds, focused on older assets averaging 30 years |
| Q4'25 | Exceeded | Continued stock buyback activity $300M deployed vs earlier $100M pace, $200M more planned |
| Q4'25 | Delivered | Bulk WiFi contributing to other income growth Now quantified at $6M 2026 NOI, $10M when complete |
| Q4'25 | Delivered | D.C. supply dropping 65% in 2026 to below 5,000 units Reconfirmed 4,000 units vs 12,000, even better than 65% reduction |
| Q4'25 | Delivered | San Francisco best performing market in 2025 Confirmed as best performer, approaching 2019 rent levels |
| Q4'25 | Delivered | Portfolio occupancy over 96% setup for strong 2026 Ended Q4 at 96.4%, nearly 97% in key markets as promised |
| Q4'25 | Delivered | Internal tracking shows 35% decline in competitive supply for 2026 Reconfirmed 40,000 unit decline, even more specific than promised |
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