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NEW YORK ( TheStreet) -- The ex-dividend date for Investors Real Estate (Nasdaq: IRET) is tomorrow, December 29, 2011. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $7.63 as of 12:44 p.m. ET, the dividend yield is 6.9%. The average volume for Investors Real Estate has been 343,700 shares per day over the past 30 days. Investors Real Estate has a market cap of $635.5 million and is part of the financial sector and real estate industry. Shares are down 14.8% year to date as of the close of trading on Tuesday. 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 728, above the average real estate industry P/E ratio of 50.4 and above the S&P 500 P/E ratio of 17.7.