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NEW YORK ( TheStreet) -- CIT Group Inc (NYSE: CIT) hit a new 52-week low Monday as it is currently trading at $29.47, below its previous 52-week low of $29.55 with 1.2 million shares traded as of 1:55 p.m. ET. Average volume has been 2.1 million shares over the past 30 days. CIT Group has a market cap of $6.3 billion and is part of the financial sector and real estate industry. Shares are down 35.5% year to date as of the close of trading on Friday. CIT Group Inc. operates as the holding company for CIT bank that provides commercial financing, leasing products, and other services to small and middle market businesses. The company has a P/E ratio of 30.4, above the average real estate industry P/E ratio of 25.5 and above the S&P 500 P/E ratio of 17.7.