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NEW YORK ( TheStreet) -- Investors Real Estate (Nasdaq: IRET) hit a new 52-week low Tuesday as it is currently trading at $6.89, below its previous 52-week low of $6.90 with 38,074 shares traded as of 9:55 a.m. ET. Average volume has been 374,000 shares over the past 30 days. Investors Real Estate has a market cap of $585.1 million and is part of the financial sector and real estate industry. Shares are down 19.7% year to date as of the close of trading on Monday. Investors Real Estate Trust, a real estate investment trust (REIT), engages in the ownership and operation of income-producing real estate properties in the United States. The company has a P/E ratio of 720, above the average real estate industry P/E ratio of 34.3 and above the S&P 500 P/E ratio of 17.7.