DiamondRock Hospitality (DRH), a lodging REIT, has announced that they will issuing a new series of preferred stock.
The issue will be cumulative, but non qualified.
DRH is a lodging REIT with 31 properties and total normalized revenue near $1 billion.
It has been years since I have followed DRH and it will be most interesting to see how this issue prices.
The preliminary prospectus is here.