12 Cash-Rich Penny Stocks To Buy According To Hedge Funds

8. Paramount Group, Inc. (NYSE:PGRE)

TTM Operating Cash Flow as of December 31, 2024: $264,926,000

Number of Hedge Fund Holders: 22

Share Price as of March 4: $4.36

Paramount Group, Inc. (NYSE:PGRE) is a real estate investment trust that owns and manages high-end office buildings in New York and San Francisco. On January 22, 2025, the company announced that it sold a 45% stake in its 600,000 square foot office building at 900 Third Avenue in Midtown Manhattan for $210 million, retaining a 55% ownership and management role. The deal will strengthen the company’s financial position. It is one of the best cash-rich stocks to watch out for.

In Q4 2024, Paramount Group, Inc. (NYSE:PGRE) reported a net loss of $38.6 million or $0.18 per share, a significant improvement from the $205.6 million loss in Q4 2023. In the fourth quarter, the company leased 108,824 square feet, with 75,821 square feet being second generation space. The new leases had an average term of 11.1 years, with tenant improvements and leasing commissions averaging $15.74 per square foot per year, or 18.4% of the starting rent.

Among the hedge funds tracked by Insider Monkey, 22 funds were long Paramount Group, Inc. (NYSE:PGRE) at the end of December 2024, compared to 21 funds in the prior quarter. John Khoury’s Long Pond Capital was the largest stakeholder of the company, with 10 million shares worth nearly $50 million.