Inland Homes Share Discussion Threads

[zulfikar] 27/6/2017 14:04

hedge fund harry

Yes, released today around lunchtime

[blueclyde] 27/6/2017 13:41

Edit all time high was nearly 90p two years ago!

[blueclyde] 27/6/2017 13:40

The all time high is 80p alone nearly two years ago! That shows you how much catching up it has to do alone!

[hedge fund harry] 27/6/2017 13:29

This is the house builder that time forgot. Mid 60s first stop. Compare the chart to the other house builders.

[cheshire man] 27/6/2017 13:27

Good to see us move up :-)

[blueclyde] 27/6/2017 13:22

Thanks Zulf, it will have been looking at the trades.

[hedge fund harry] 27/6/2017 13:16

Zulfikar was that recommendation just released today?

[zulfikar] 27/6/2017 13:12

Recommended a buy in Investor's Chronicle mag....

- shares are too lowly rated
- 42 per cent discount to forecast year-end EPRA NAV.

[blueclyde] 27/6/2017 12:53

We have had an aggressive seller the last few weeks / months depressing the share price today we appear to have an aggressive buyer. Either that or their are articles appearing showing how undervalued this share is and the market is awakening.

[nurdin] 26/6/2017 19:24

They have a net debt of £100m...same as their market cap.But they have the assets to run down that debt should they wish...imo

[blueclyde] 26/6/2017 18:43

Sorry I may be missing something really obvious but where is the evidence to suggest they are financially stretched and constrained? It's a genuine question out of interest as I have read all the RNS statements as the are released and the most recent ones talk of loans being refinanced at even cheaper rates ect. By selling the land to the housing association the deleverage the balance sheet and as stated becomes cash generative to build them out. As it's a housing association I guess the will near enough make the same circa 25% margin. As long as the keep gaining planning permissions as they are doing they should always be generating good profit. Their house prices are right in the sweet spot of the market hence why they are building so many inhouse to maximise profit.

[shaker44] 26/6/2017 18:30

Yes, if they have adequate resources. And more so if not at pre agreed costs with H.A's
Not convinced (yet) that it is not better for them to stick with what they are good at: buying the right sites at the right prices,gaining permissions, and flipping them. And as they are capital constrained, emulating the wjg/tef buy to rent model, using capital from the 'renters', if they want to enjoy building-out margins

[horndean eagle] 26/6/2017 17:55

It makes sense for them to build out projects rather than sell them on. Housebuilders are making 20-25% margins. If INL build them out they get the supernormal profits. The uplift today helps convert some of the adjusted nav into tangible NAV and will also flatter the p+l markedly.

[shaker44] 26/6/2017 17:34

I wonder if it is such a bargain? Chunky selling again today. Maybe Mark Dixon is still unloading parts of his almost 10% stake.if so that will continue depressing share price And they seem stretched financially. If I read the rns correctly, they are building for housing associations at pre agreed costs? Presumably that is a margin give up, and also leaves the risk of accelerating costs with Inl?

[blueclyde] 26/6/2017 13:36

Staggering the seller is taking this negative after being up 6%. What an opportunity if you have funds. Sensational opportunity here.

[gbill11] 26/6/2017 12:20

Snapped up some this morning because the current share price does look anomalous.

[blueclyde] 26/6/2017 11:31

I believe there is a seller in the background and has been for some weeks. Once they are cleared I am pretty sure it will rise to the mid 80's today's price action shows it won't take that much to get it there once the seller is gone.

[spud] 26/6/2017 11:06

Still grossly undervalued imo & although the news has forced a small bounce, past performance hints at a pullback. I'll still be adding in the dips & taking a divi until someone recognises the value. spud

[blueclyde] 26/6/2017 10:56

Regarding the construction they have stated that by bringing it in house they will reduce margins in the long run.Regarding the land sale then then being hired as the contractor to build I read this as in they have played a blinder selling the land at foundation level for a good profit then being hired to build the homes which the would have done any way but they have already banked the profit and the new owner carries the funding risk of the development so it is win win for inland.I believe the NAV figure only relates to the land sale and will hugely increase at the next results due to the hundreds of planning consents granted in the period to date.

[shanklin] 26/6/2017 10:05

Certainly a first step in the right direction in terms of their gearing.

[cheshire man] 26/6/2017 09:21

Just looked at the trades and nearly all buys this morning so market seems to like it too :-) DYOR

[cheshire man] 26/6/2017 09:19

Well I'm happy with this news and glad I topped up on that dip :-)

[igbertsponk] 26/6/2017 08:36

Good progress, as usual!
Only worry is I hope that they're not suggesting that the £1m NAV increase relates to the sale transactions only, and does not include the planning gains on Bournemouth.

[blueclyde] 26/6/2017 08:30

Market cap circa 100 million made circa 4 million first half will do more than that second half due to timing. 10 million from land sales and probably more to come looking at meat 20 million profits this year?What am I missing seems the most ridiculously cheap stock I have ever seen.