OFFICE PROPERTIES INCOME TRUST (OPI) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: May 22, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares
Recent Dilution: 88.81% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
72M
Potential Supply
0
Additional shares possible
Splits
None
Past 2 years

Summary

OPI currently has 71.9M outstanding shares. with minimal authorized share overhang for future dilution. The company has significantly diluted shareholders by 88.81% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 22, 2026

10-K filing | 71.9M shares outstanding

72M 0
May 22, 2026

10-Q filing | 73.5M shares outstanding

73M 0
Jul 30, 2025

10-Q filing | 71.3M shares outstanding

71M 0
Apr 30, 2025

10-Q filing | 69.3M shares outstanding

69M 0
Apr 01, 2025

S-3/A filing: This is an S-3/A filing registering $1,000,000,000 of unsold securities from a prior registration statement.

70M 0
Apr 01, 2025

S-3/A filing: This is a pre-effective amendment to a Form S-3 registration statement for Office Properties Income Trust filed on February 19, 2025. It is being filed solely for the purpose of filing an updated auditor consent and an updated composite copy of the registrant's amended and restated declaration of trust.

70M 0
Feb 19, 2025

S-3 filing: Resale of 5,700,900 common shares of beneficial interest by selling shareholders, originally issued pursuant to an Exchange Agreement dated November 24, 2024; shares may be sold from time to time directly or indirectly through broker-dealers or agents.

70M 0
Feb 13, 2025

S-3 filing: Office Properties Income Trust may offer and sell debt securities, common shares of beneficial interest, preferred shares of beneficial interest, depositary shares and warrants up to a total offering price of $1,000,000,000.

51M 0
Feb 13, 2025

10-K filing | 69.8M shares outstanding

70M 0
Dec 17, 2024

8-K filing: Office Properties Income Trust filed a prospectus supplement relating to the resale of up to 5,700,900 common shares by certain selling shareholders, which were issued to them pursuant to an exchange agreement related to a private exchange offer.

51M 0
Dec 11, 2024

8-K filing: The company issued approximately 11.5 million common shares in a private placement related to an exchange agreement. ($58.5M proceeds)

51M 0
Nov 25, 2024

8-K filing: The company entered into an Exchange Agreement to exchange up to $340 million of Existing Notes for new notes, common shares, and premiums, and also issued 4,045,704 common shares between September 30, 2024 and November 15, 2024 in exchange for $7.1 million of Existing Notes.

51M 0
Oct 30, 2024

10-Q filing | 51.2M shares outstanding

51M 0
Sep 17, 2024

8-K filing: Between August 1, 2024 and September 16, 2024, the company issued 2,554,489 common shares in exchange for $6,800,000 aggregate principal amount of 4.500% Senior Notes due 2025 in privately negotiated exchange agreements. As of September 16, 2024 the Company has 53,344,617 Common Shares outstanding. ($6.8M proceeds)

53M 0
Jul 31, 2024

10-Q filing | 48.6M shares outstanding

49M 0
Jul 09, 2024

8-K filing: Office Properties Income Trust filed a prospectus supplement relating to the resale from time to time by certain selling shareholders of up to 1,406,952 shares of the Company's common shares of beneficial interest, par value $.01 per share, that the Company issued to the selling shareholders pursuant to the Support Agreement dated June 10, 2024.

48M 0
Jun 21, 2024

8-K filing: The company settled exchange offers, exchanging existing notes for new notes and issuing 1,429,179 common shares to certain holders of existing notes party to the Support Agreement.

48M 0
Jun 10, 2024

8-K filing: The company entered into a Support Agreement with Supporting Noteholders and will issue 1,433,169 common shares in a private placement in exchange for tendering Existing Notes.

48M 0
May 01, 2024

10-Q filing | 48.5M shares outstanding

48M 0
Feb 15, 2024

10-K filing | 48.4M shares outstanding

48M 0
Oct 30, 2023

10-Q filing | 48.4M shares outstanding

48M 0
Sep 05, 2023

RW filing: The filing relates to the proposed issuance of common shares in connection with the Merger Agreement, which was terminated. Consequently, the Company will not proceed with the proposed offering and will withdraw the Registration Statement.

48M 0
Jul 26, 2023

10-Q filing | 48.4M shares outstanding

48M 0
Apr 26, 2023

10-Q filing | 48.3M shares outstanding

48M 0
Feb 15, 2023

10-K filing | 48.3M shares outstanding

48M 0
Oct 27, 2022

10-Q filing | 48.3M shares outstanding

48M 0
Jul 28, 2022

10-Q filing | 48.2M shares outstanding

48M 0
Jun 17, 2022

8-K filing: On June 16, 2022, the Company awarded each of its Trustees 3,500 common shares of beneficial interest as part of an updated Trustee compensation arrangement.

48M 0
Apr 28, 2022

10-Q filing | 48.2M shares outstanding

48M 0
Feb 16, 2022

10-K filing | 48.2M shares outstanding

48M 0
Oct 28, 2021

10-Q filing | 48.2M shares outstanding

48M 0
Sep 23, 2021

8-K filing: The company agreed to sell $400 million aggregate principal amount of 3.450% Senior Notes due 2031 in an underwritten public offering, with expected net proceeds of $395.7 million to be used for general business purposes. ($395.7M proceeds)

48M 0
Jul 29, 2021

10-Q filing | 48.2M shares outstanding

48M 0
Jun 21, 2021

8-K filing: On June 17, 2021, the Company awarded each of the Company's Trustees 3,500 Common Shares, valued at $29.88 per share.

48M 0
Apr 29, 2021

10-Q filing | 48.2M shares outstanding

48M 0
Feb 19, 2021

10-K filing | 48.3M shares outstanding

48M 0
Oct 30, 2020

10-Q filing | 48.3M shares outstanding

48M 0
Sep 21, 2020

8-K filing: The company agreed to sell $250.0 million aggregate principal amount of 4.50% Senior Notes due 2025 in an underwritten public offering, with net proceeds expected to be $251.3 million to repay amounts outstanding under its revolving credit facility and for general business purposes. The Notes are expected to be issued on or about September 24, 2020. ($251.3M proceeds)

48M 0
Jul 30, 2020

10-Q filing | 48.2M shares outstanding

48M 0
May 28, 2020

8-K filing: The Company awarded each of its Trustees 3,500 Common Shares valued at $26.61 per share on May 27, 2020.

48M 0
May 01, 2020

10-Q filing | 48.1M shares outstanding

48M 0
Feb 20, 2020

10-K filing | 48.1M shares outstanding

48M 0
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