SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA's Holding History (CIK: 0000315038)

Note: Option positions (PUT/CALL) are excluded.

Q4 2017

Shares 22,482 Value ($000) $760 Avg Close $36.81 Range $32.55 - $41.80

Q3 2017

Shares 22,482 Value ($000) $836 Avg Close $33.93 Range $28.00 - $39.48

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2017	22,482	$760	$36.81	$32.55 - $41.80
Q3 2017	22,482	$836	$33.93	$28.00 - $39.48