TPG RE Finance Trust, Inc. (TRTX) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: April 28, 2026

Risk Assessment Details

Potential Dilution: 2.89% of current shares

Recent Dilution: 5.29% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

78M

Potential Supply

2.3M

Additional shares possible

Splits

None

Past 2 years

Summary

TRTX currently has 78.3M outstanding shares. with limited dilution risk as only 2.26M additional shares (2.9%) are authorized for issuance. The company has minimally diluted shareholders by 5.29% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Apr 28, 2026	10-Q filing \| 78.3M shares outstanding	78M	2.3M
Oct 28, 2025	10-Q filing \| 78.5M shares outstanding	79M	2M
Jul 29, 2025	10-Q filing \| 79.5M shares outstanding	79M	1M
Apr 29, 2025	10-Q filing \| 81.0M shares outstanding	81M	0
Feb 18, 2025	10-K filing \| 79.9M shares outstanding	80M	630K
Oct 29, 2024	10-Q filing \| 80.9M shares outstanding	81M	0
Jul 30, 2024	10-Q filing \| 80.9M shares outstanding	81M	0
Jun 21, 2024	S-3 filing: This is an S-3 filing registering shares of common stock for resale by the selling stockholder, PE Holder, L.L.C.	78M	2.6M
Apr 30, 2024	10-Q filing \| 77.9M shares outstanding	78M	0
Feb 20, 2024	10-K filing \| 77.6M shares outstanding	78M	0
Oct 31, 2023	10-Q filing \| 77.7M shares outstanding	78M	0
Aug 01, 2023	10-Q filing \| 77.4M shares outstanding	77M	0
May 02, 2023	10-Q filing \| 77.4M shares outstanding	77M	0
Feb 21, 2023	10-K filing \| 77.3M shares outstanding	77M	0
Nov 01, 2022	10-Q filing \| 77.4M shares outstanding	77M	0
Aug 02, 2022	10-Q filing \| 77.2M shares outstanding	77M	0
May 03, 2022	10-Q filing \| 77.2M shares outstanding	77M	0
Feb 23, 2022	10-K filing \| 77.0M shares outstanding	77M	0
Nov 02, 2021	10-Q filing \| 77.1M shares outstanding	77M	0
Aug 03, 2021	10-Q filing \| 76.9M shares outstanding	77M	0
May 04, 2021	10-Q filing \| 76.9M shares outstanding	77M	0
Feb 24, 2021	10-K filing \| 76.7M shares outstanding	77M	0
Nov 04, 2020	10-Q filing \| 76.8M shares outstanding	77M	0
Jul 29, 2020	10-Q filing \| 76.6M shares outstanding	77M	0
May 11, 2020	10-Q filing \| 76.5M shares outstanding	76M	0
Feb 19, 2020	10-K filing \| 72.7M shares outstanding	73M	0

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