Inland Homes Share Discussion Threads

[mallorca 9] 03/2/2020 19:12

The foundations are now in place for significant future growth.

[portugull] 03/2/2020 16:51

I am long on Inland but I have to say the Board at Inland have a habit of disappointing Shareholders.
We have had a long period of good times for House builders but Inlands operating profits are not great.
On a Piotroski score they score just 2 out of 9.
However they have a lot of goodies in the cupboard now and lets hope the Shareholders will see some serious rewards in the next 2 or 3 years.

[mallorca 9] 03/2/2020 10:06

Happy Monday all …

let's get back into the 90's.

[mallorca 9] 01/2/2020 10:48

Just about recovered to break even yesterday - think we should call it quits .
Double or nothing that we hit a new all time high next week !

Sev ...thanks for the thoughts above. I totally agree. I have always seen INL as a takeover target but I feel that it will be for around £500m when it happens - so circa 2.5 x today's share price.

[spud] 31/1/2020 21:20

Say 1000 pi's and he's into at least 2k! Oh well, easy come easy go. At 100p this year he can afford it! spud

[spud] 31/1/2020 17:22

You owe me a quid mallorca!spud

[davebowler] 31/1/2020 16:08

I suspect they might tap the market for more Zeros. At a 5% GRY it's a fair way of obtaining more capital for both them and any buyers.

[igoe104] 31/1/2020 15:29

I've just purchased 21.6k worth, seems a steady low risk investment.

[sev22] 31/1/2020 14:59

I have a decent holding too. I spent 30 years in the industry and Inland are seen as an excellent operator, well run by Mr Wicks.

Rest assured the big boys like Barratts, Persimmon, Bellway, Crest Nicholson, Berkeley and Taylor Wimpey will have seen the final results today and taken note of Inland's sizeable land bank.

[mallorca 9] 31/1/2020 14:38

Spud,

great holding. I hope that most of it is in an ISA or SIPP (tax).

I'll keep my fingers crossed for you.

[mallorca 9] 31/1/2020 14:37

My £1 bet is looking good for today.

I'll bet another £1 that this smashes right through the 90p's next week - closing at circa 98p next Friday.

[spud] 31/1/2020 14:34

No conspiracy from me either Igbert. I hold 270500 and am as keen as the next man to want to see it up. But having invested in the Market for more years than I care to mention, I'm mindful of potential pitfalls along the way.

I binned my rose tinted specs long ago!

Gla.

spud

[mallorca 9] 31/1/2020 14:31

It's a stonking strong buy for me - just my view.

[leading] 31/1/2020 14:29

Igbert 3577. No need for conspiracy theories, take your rose tinted glasses off and read the results. Both the chairman and the CEO refer to fund raising specifically including equity.

That may, or may not be justifiable. Certainly the gearing is uncomfortably high at present.

The business model is evolving but still lacks clarity for me.

I like the company, but it is still in transition and I would like to understand the eventual shape of the business model they are aiming for and I don't think I do yet.

I would want more clarity on that before supporting a capital raise. Just my view.

[mallorca 9] 31/1/2020 14:09

I'll bet £1 on a positive finish today and a good rise on Monday.

[igbertsponk] 31/1/2020 13:50

Seems a few trying to suggest spurious reasons for a rights issue... ulterior motives whilst they add?

[qs99] 31/1/2020 13:46

Be interesting to see Broker notes.....likewise Simon T in the IC has been a big fan before...have bought the dip....DYOR

[mallorca 9] 31/1/2020 13:40

Only IgbertSponk talking sense here.

This Company is laying the foundations for MASSIVE growth.

[igbertsponk] 31/1/2020 13:29

No - the Build to let stuff is just to retain more of the profits on developments. When INL are required to do 30% affordable, they've figured out that the Housing Associations rip them off. So have set up their own subsidiary Housing Association to keep the profits within the Group.

Not capital hungry as they're buying the houses cheaply.
And people are falling over themselves to lend to housing associations, who are seeing massive expansion.

[leading] 31/1/2020 13:04

Looks to me as if they are considering a rights issue to fund a "Build to Let" activity. Do they mean to hold onto the properties after development? Why? By all means develop and then sell on. There are plenty of property businesses out there, I don't see why Inland would want to enter this capital hungry activity, it belongs in a different business entirely.

Perhaps after missing the 100p, they are just floating this idea to keep a lid on the share price as suggested above. They are a very entrepreneurial lot and it is always amusing to see what they come up with next.

[igbertsponk] 31/1/2020 12:49

Beaconsfield "news"

[igbertsponk] 31/1/2020 12:15

I disagree on the need to flog stuff quick to get cash.
The partnership housing operations are not a cash drain - they get good stage payments.
And INL have proven very adept at getting funding partners - they had one on Cheshunt which they bought back then refinanced with a new partner.
And I suspect have a few others lined up if necessary.

[grahamburn] 31/1/2020 12:03

Spud (3560)

I don't think your comment:

"I believe they are very vulnerable to a lowball takeover before the dividend payment date unless they can rebuild their cash pile through some significant land disposals."

has much mileage.

The ex-dividend date is only 3 weeks away (20 February), so any offer for the company would make an allowance for the fact that the shares will be trading ex-dividend. That dividend will be "in the bag" so far as shareholders are concerned so an adjustment to any takeout price would be inevitable.

However, you are right that the company needs some significant land disposals or house sales as a priority. This may result in lower realisation values than hoped as they move to reduce their gearing as opposed to increasing their profits.

[spud] 31/1/2020 11:42

There's not doubt that this will do well and I still maintain my 100p price target for 2020 but there really isn't that much spare cash headroom in order to continue growing at the current rate, hence the delay to the 2020 dividend.

I can see a mutually agreed takeover, stake sale or rights issue which would allow the Company to continue growing at its current metric.

spud

[spob] 31/1/2020 11:40

yeah but they skipped our dividend