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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported) April 20, 2006

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                            Arbor Realty Trust, Inc.
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             (Exact name of registrant as specified in its charter)

         Maryland                      001-32136                 20-0057959
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     (State or other                  (Commission               (IRS Employer
     jurisdiction of                  File Number)           Identification No.)
     incorporation)

    333 Earle Ovington Boulevard, Suite 900  Uniondale, New York       11553
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               (Address of principal executive offices)              (Zip Code)

                                 (516) 832-8002
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              (Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

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                            Arbor Realty Trust, Inc.
                           Current Report on Form 8-K

ITEM 8.01 OTHER EVENTS.

     On April 20, 2006, Arbor Realty Trust, Inc. (the "Company") issued a press
release announcing that its Board of Directors has declared a quarterly cash
dividend of $0.72 per share of common stock for the quarter ended March 31,
2006, which is payable on May 15, 2006 to common shareholders of record on May
1, 2006. A copy of the press release is attached hereto as Exhibit 99.1.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

(d)  Exhibits

     Exhibit Number

          99.1  Press Release, dated April 20, 2006.



                                    SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Dated: April 20, 2006                     ARBOR REALTY TRUST, INC..


                                          By:    /s/ Walter K. Horn
                                                 ------------------------------
                                          Name : Walter K. Horn
                                          Title: General Counsel, Secretary and
                                                 Director of Compliance



                                  EXHIBIT INDEX

Exhibit Number
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     99.1          Press Release, dated April 20, 2006.