NEW YORK (TheStreet) -- Annaly Capital Management (NLY), The St. Joe Company (JOE) and CB Richard Ellis Group (CBG) were among the few real estate stocks trading in positive territory Thursday as many stocks tumbled on a weakening global growth outlook.
Annaly Capital shares rose 0.7% to close at $18.72 on volume of 27 million, more than double the issue's trailing three-month daily average.
Earlier this week Annaly Capital said it will raise its dividend by 4.8%, paying its shareholders a quarterly dividend of 65 cents per share, up from its prior payout of 62 cents per share.
That brings the real estate investment trust's yield to around 13.9% going forward. St. Joe shares rose 4.4% to finish at $20.12, though earlier this month TheStreet Ratings downgraded the stock from hold to sell. Volume of 1.1 million was close to double the stock's normal churn.
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