Prices of Real Estate Investment Trusts and real estate operating companies plunged in March. Officers and directors of many REITs have stepped up to buy the shares the public has sold.

Some of the most significant insider buying has occurred recently at Hudson Pacific Properties (NYSE: HPP) where three insiders have combined to make open market purchases of the REIT they help direct.

Insider Buying at Real Estate Investment Trusts

Hudson Pacific Properties is a REIT focused on epicenters of innovation for media and tech. Their properties are in West Coast markets such as Los Angeles, Seattle, San Francisco, Silicon Valley, and Vancouver in Canada.  Their tenants include technology giants like Google (NASDAQ: GOOGL), NetFlix (NASDAQ: NFLX), Qualcomm (NASDAQ: QCOM), and Uber (NYSE: UBER). The Stanford Endowment and the National Football League also rent office space from Hudson Pacific.

In addition to their 52 office properties, they own three media studios located in the heart of Hollywood in Southern California that are leased to major entertainment companies.

Director Jonathan Glaser is the Managing Member of JMG Capital Management, the parent company of JNG Capital Partners, since he founded the company in 1992. He has made two open market buys of Hudson Pacific in March, one for 12,000 shares at $24.98 a share. And one after REIT prices collapsed for 75,500 shares at $16,67. All in, he added over $1.2 million to his investment in the REIT.

Director Theodore Antenucci is the President of Catellus Development, a leading land developer in the United States. Until June 2011, Antenucci was also President and Chief Investment Officer of ProLog (PLD) is, as well as a member of its Executive Committee. ProLogis is a global provider of distribution facilities with over $32 billion in real estate assets under management. Antenucci added 15,625 shares to his stake in Hudson Pacific early in the month for $31.92 a share. His purchase totaled $498,750.

Robert Harris most recently served as Chairman of the Office of the Chairman of Acacia Research Corporation, where he served as a director since 2000, as President from 2000 to 2012 and as Executive Chairman of the Board from 2012 to 2016. Harris previously served as President and a director of Entertainment Properties Trust (EPT), a publicly-traded entertainment, recreation, and specialty real estate company that Harris founded, from 1997 to 2000. As prices began to recover last week, he spent $233,500 to acquire an additional 10,000 shares for $23.

Recent: Alternative Investments: Howard Hughes Corporation Announces Secondary Offering