arbor realty trust shares were up 7 to 1727 after the company reported higherthanexpected secondquarter earnings and raised its quarterly dividend the stock hit its 52week high of 1774 earlier in the session and is up 6 in the past 12 months the real estate investment trust said it had quarterly earnings of 762 million or 41 cents a share compared with earnings of 699 million or 41 cents a share in the same quarter last year analysts polled by factset were looking for earnings of 68 million or 35 cents a share arbor realty raised its quarterly dividend by one cent a share to 43 cents the company last raised its dividend in may from 40 cents to 42 cents the new dividend represents an annual dividend of 172 a share