>>>A quick read of the report is not immediately encouraging, but it seems management is hunkering down waiting for better times and conserving assets in the meanwhile. That seems sensible to me, but obviously not to others<<<

It all depends on your viewpoint and what you want going forward.
1)At the current $39.01 Share price the dividend is a solid 5.01% going forward while waiting for the economty to kick in.
2)If you aren't through buying, you could find the "Rout" you refer to, to be a good point to add to your RYN position while the "Rout" continues.

>>>I continue to wonder why the asset suffer for management exercising its best judgment.
<<<

Instead of wondering whay others are selling at this time, it might be beneficial to re-align your portfolio by selling something that in your opinion has less potential and adding to RYN at these "Rout" prices.

good luck
b&w