Share Name Share Symbol Market Type Share ISIN Share Description
Inland Homes Plc LSE:INL London Ordinary Share GB00B1TR0310 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 1.96% 52.00 778,368 16:10:33
Bid Price Offer Price High Price Low Price Open Price
51.00 53.00 52.50 50.00 51.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 147.90 25.00 11.79 4.4 119
Last Trade Time Trade Type Trade Size Trade Price Currency
16:30:12 O 40,000 52.85 GBX

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07/7/202009:53Inland Homes4,150
10/10/201909:32*** Inland ***7
30/4/201811:25Inland Homes interview with Hardman & Co1
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Inland Homes Daily Update: Inland Homes Plc is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker INL. The last closing price for Inland Homes was 51p.
Inland Homes Plc has a 4 week average price of 47.25p and a 12 week average price of 46p.
The 1 year high share price is 94p while the 1 year low share price is currently 32p.
There are currently 228,341,045 shares in issue and the average daily traded volume is 458,724 shares. The market capitalisation of Inland Homes Plc is £118,737,343.40.
igoe104: * IC - Simon Thompson - BUY Inland’s value proposition Shares in Inland Homes (INL:50.5p), a south-east England-focused housebuilder and brownfield land developer, were up 51 per cent on my recommended buy-in price when I updated my 2019 Bargain Shares Portfolio in early February. The stock market crash wiped out all the gains, and more. The holding is now 12 per cent under water, albeit more than 25 per cent ahead of the 40p level at which I last advised buying at when investor risk aversion was at heightened levels (‘Built for recovery’, 23 March 2020). Until the middle of March, Inland was well on course to deliver results in line with Panmure Gordon’s full-year pre-tax profit and EPS forecasts of £22.7m of 8.9p, respectively. However, the economic uncertainty caused by the Covid-19 pandemic has made major housebuilders cautious. Three of five major land sales that were due to complete by 31 March 2020 (Inland’s half year-end) were aborted. With a total sales value of £46.2m, the proceeds would have markedly deleveraged Inland’s net debt position of £150m. The absence of these land deals explains why the company reported a pre-tax loss of £7.2m on revenue of £59.6m in the six-month trading period, rather than a hefty profit. It’s worth stressing that Inland is still doing deals. For instance, it has just announced the unconditional sale of 94 plots at its flagship development site at Wilton Park in Beaconsfield to Bewley Homes, a specialist in high quality developments, at a premium to EPRA valuation. The sale is expected to complete in September and has been structured so that two-thirds of the [undisclosed] cash consideration is payable on completion and the deferred element payable within 12 months. In addition, Inland is “at an advanced stage on a number of land sales which are anticipated to exchange or complete in July.” Despite the hiatus caused by the lockdown, the company is still selling new homes, too. In the 12 weeks since 1 April 2020, it has booked 46 net new reservations worth a total of £21.2m and has forward sold a hotel under construction which will generate proceeds of £13.3m in early 2021. Inland is also being approached by housing associations and build-to-rent funds for bulk purchases of apartments under construction. Inland’s current partnership housing order book stands at £84.9m and this excludes a construction contract for £34m which is “at an advanced stage and is expected to be signed in July”. The point is that the value embedded in the company – proforma European Public Real Estate Association (EPRA) net asset value of £234.5m (103p a share) post the half year-end placing – is more than double Inland’s market capitalisation of £115m even though the directors have taken steps to bolster cash reserves and protect cash flows. For instance, Inland raised £9.4m in placing in early April to give it a cash buffer and has since renegotiated the terms for some loan repayments as well as deferring certain land payments. The company has reduced headcount by 11 per cent, too. So, although the Covid-19 induced economic downturn has created uncertainty, I feel that the perceived financial and operational risk embedded in Inland’s valuation is factoring in an Armageddon scenario that is highly unlikely to materialise. As positive news flow on land and housing sales emerges in coming months, expect the share price discount to EPRA NAV to narrow markedly. Buy
master rsi: COVID-19 update - sales and marketing suites to reopen Inland Homes ("Inland Homes" "the Group" or "the Company"), a leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south east of England, announces the reopening of its sales and marketing suites from 22 May to support its ongoing online and remote sales and marketing activity. The decision follows the Government's recently updated guidance which removed the restriction on non-essential home moves and supported the return of activities related to the sale and purchase of homes..... Inland Homes builds homes in areas of high demand and structural under supply in the south and south east of England. To recognise the efforts of 'key workers' in this pandemic, the Company is offering a 'key worker' discount on home purchases. Inland is also pleased to be launching a number of offers on its home sales for all other customers......
p1966: Agreed that logically the share price should dip slightly - although GLE raised 16.4m @ 600p and the share price has strengthened. Regardless of short term price fluctuations, the INL capital raise will improve liquidity and is a sign of confidence.
master rsi: Housebuilders are too cheap, Jefferies says - 19 Mar, 2020 15:57 UK housebuilders are too cheap, Jefferies said as the broker placed 'buy' ratings on almost all sector stocks after big share price falls caused by the coronavirus crisis. Jefferies' analysts cut their earnings estimates for housebuilders and building products suppliers by an average of 15-25% for the current year. But at valuations not seen since directly after the Brexit vote in 2016 shares prices are too low for a sector expected to achieve a return on capital of 20% or more. Share prices in the sector had fallen by 50% in the past month as investors were gripped by fear about the effect of the Covid-19 pandemic on housebuilders.
master rsi: Update of volume trading and MMs games Not sure about the MMs games at the moment, apart that they do not want to hold stock in their books so after a few sells their offer is lower, but any large buy they are up again. But plenty of buying earlier and no movement at the higher price @ 35 v 35.50p. The only reason I find to keep the share price lower despite the buying is they are keeping the price at the same level as the peer's fall/level. ------------------ FTSE wants to move higher from the lows as are the Peer's BDEV Barratts Dev. 401.40p -48.50p -10.4% TW. Taylor Wimpey 105.50p -15p -12.45% INL Inland Homes 34.00p -3.25p -8.7%
master rsi: malloca 9 - The PUMP when IN and DUMP when OUT - Shame on YOU Posting on other threads and tipping INL when is Holding the stock....... mallorca 931 Dec '19 - 11:00 - 10260 of 10382 - PMG, anyone heard of it?? Did anyone act on my Inland Homes tip(INL). It continues to move higher. ----------------- mallorca 9 - 08 Jan 2020 - 09:22:55 - 10268 of 10383 - PMG, anyone heard of it?? - PMG Inland Homes INL , breaking higher again. Take a look ! ------------------ mallorca 9 - 20 Feb 2020 - 12:18:24 - 10357 of 10383 PMG, anyone heard of it?? - PMG Lovely fat dividend banked this morning at Inland Homes .. INL and PUMP here mallorca 9 - 22 Jan 2020 - 15:59:13 - 3460 of 3792 Inland Homes - INL Congrats to all those who banked a profit - that is what it is all about ! I'm holding all of mine as I see this doubling from here relatively quickly. Can hardly see any mid term risk to the share price -------------- mallorca 9 - 31 Jan 2020 - 07:51:20 - 3541 of 3792 Inland Homes - INL I actually see INL being taken out by a larger competitor at a significant premium for shareholders. -------------------- mallorca 9 - 31 Jan 2020 - 11:24:58 - 3566 of 3792 Inland Homes - INL 'Exceptionally strong demand from housing associations underpins continued strong growth with 921 homes currently under construction (30 June 2018: 220)' ------------- mallorca 9 - 01 Feb 2020 - 10:48:35 - 3590 of 3792 Inland Homes - INL 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. -------------- mallorca 9 - 25 Feb 2020 - 13:21:15 - 3686 of 3792 Inland Homes - INL I added again - at 82p. ------------ Being NEGATIVE once SOLD..... mallorca 9 - 14 Mar 2020 - 10:43:11 - 3744 of 3792 Inland Homes - INL I should declare that I sold out of these on Friday. As all should know, INL has been a big holding for me and I love the Company prospects however I am very worried about cash flow as many predicted sales may now be pushed back and I am worried about the Companies liquidity .. also, ------------------------ mallorca 9 - 16 Mar 2020 - 09:33:19 - 3749 of 3792 Inland Homes - INL The problem is cashflow and workforce shortages. This virus thing hasn't even got going yet. ------------------------ mallorca 9 - 16 Mar 2020 - 09:46:03 - 3751 of 3792 Inland Homes - INL spob, all will soon be on lockdown. The governments new emergency powers include compulsory land purchase for carrying out mass burials. ------------ mallorca 9 - 16 Mar 2020 - 11:23:56 - 3759 of 3792 Inland Homes - INL Guy's I do not want to scaremonger .. The facts are pretty consistant from country to country … Circa 60% of the population will contract the virus, 1% of those will then die. Do the maths yourself. I estimate circa 400k deaths in the UK and circa 1.8m deaths in the USA. There will be around 400k deaths in the UK. ---------------- mallorca 9 - 17 Mar 2020 - 10:43:52 - 3782 of 3792 Inland Homes - INL To me it is a bit worrying that the Co hasn't reassured investors re liquidity. Having said that , you could probably criticise all Co's for that. thanks to the secretary for the research
sev22: 2019 BARGAIN SHARES UPDATE BY SIMON THOMPSON IN TODAY'S INVESTORS CHRONICLE: INLAND HOMES. Aim: Share price: 87.2p Bid-offer spread: 87-87.4p Market value: £178m Website: Inland Homes (INL), a south-east of England-focused housebuilder and brownfield land developer, has reported a raft of positive news in the past 12 months. At the end of the 2019 financial year, the company reported a record land bank of 7,796 plots of which more than 3,000 plots have planning consent and a further 3,533 plots form part of Inland’s strategic land bank, the majority of which is held under options that are exercisable at a discount to market value. The total land bank has a gross development value (GDV) of £2.4bn, a strong indication of the bumper profits to be released when the plots are either developed or sold on to larger housebuilders. The decision to buy out the company’s joint venture partner at Cheshunt Lakeside, Hertfordshire, after the local authority granted planning consent last year, is likely to prove a shrewd and highly profitable decision. Inland controls 1,253 plots on the site with a GDV of £429m and Inland’s directors are evaluating their options to develop it as well as their flagship 100-acre development at Wilton Park, Beaconsfield. Wilton Park has been granted formal planning consent for 350 homes (GDV of £288m) and there are provisional proposals for further development on the site which could provide an additional 250 homes and 18,500 sq m of commercial space. Inland now has 892 private homes and 921 partnership homes under construction, and is in discussions with build to rent operators to enter more deals that will reduce the company’s borrowings – Inland has net debt of £152m – and release capital to invest back into the business while at the same time further de-risking the forward sales pipeline. For instance, the company has just signed a contract with Octavia Housing, a leading provider of affordable housing, for the development of Afrex House, in Alperton, north-west London. The development of this former light industrial site into 31 one, two and three-bedroom apartments will support the broader regeneration of the Alperton area. Annual results released last week revealed that the company’s European Public Real Estate Association NAV rose 13 per cent to £233m (113.6p a share) and pre-tax profit surged by more than a quarter to £25m, of which half represented a valuation gain on the Cheshunt site. However, I maintain my view that the Wilton Park and Cheshunt Lakeside flagship developments have scope to create £100m of additional value for Inland’s shareholders over time, a sum equating to more than half the company's current market capitalisation. A 3.1p a share annual payout produced a decent dividend yield of 3.5 per cent, too. BUY.
igbertsponk: Suspect that as they've not hit the directors bonuses share price target they're having discussions with the Rem Committee about how to extend to give them the moolah they rightly deserve. Not their fault (they'll argue) that the share price is lagging the NAV so much...
spob: previous article - dated June 10 Inland Homes wins major planning consent Simon Thompson June 10, 2019 Inland Homes (AIM:INL:62p), a leading brownfield developer, housebuilder and partnership housing company with a focus on the South and South East of England, has been granted planning permission, subject to the signing of a s106 agreement, on its flagship site, Wilton Park in leafy Beaconsfield, Buckinghamshire. This is a very affluent area of the country that is located within 23 minutes to London Marylebone by rail, and offers quick access to the M40, too. Furthermore, gaining consent is a significant step forward for the long awaited development of the 100-acre site, described by upmarket estate agency Savills “as the best residential opportunity in southern England.”Planning permission will enable delivery of 350 homes, as well as commercial and community space within a parkland setting, with an estimated gross development value of £350m. A further part of the site is subject to a draft allocation for development, which could provide up to 250 additional homes and 200,000 sq ft of commercial space. Inland’s management team is currently considering their options for the site, but no matter whether land is sold off as parcels, developed in house or through a joint-venture partnership, the planning consent will lead to a major increase in the carrying value of the site. In the meantime, the site continues to generate annual rental income of £1.5m from residential and commercial occupiers. To put the magnitude of the potential profits from this site in to perspective, Inland acquired the former Ministry of Defence site five years ago for £35m, including deferred consideration. Once developed, and based on a 25 per cent gross margin and an 80 per cent profit share, I estimate this implies a post-tax profit north of £50m for Inland, adding a thumping 24p per Inland’s shareholders’ equity, or 40 per cent of its current share price. I would stress that these are my forecasts as analysts have yet to update their models. Moreover, there could be further good news on the planning front later this month, as Inland’s delayed planning decision at Cheshunt Lakeside, Hertfordshire is scheduled to be heard on 25 June 2019. The site is located just outside the M25 and only 27 minutes from London's Liverpool Street station by train. In June 2016, First Property entered into a joint venture whose purpose was to acquire a site in Cheshunt, Hertfordshire, obtain planning permission and ultimately sell the land. Under the terms of the joint-venture agreement, Inland has an obligation to fund 50 per cent of the costs of the site and is entitled to receive 50 per cent of the net returns. Planning application for 1,853 units was recommended for approval by the planning officers, but the planning committee of Broxbourne District Council resolved to defer the decision, requesting clarification on a few matters (for instance, car park allocation). Inland is hopeful of winning approval at the forthcoming hearing later this month. A positive decision on that site will result in another significant increase in its valuation. Bearing in mind the timing of thee planning decisions, Inland will release a pre-close trading update in early October 2019 in order to be able to offer greater clarification on their financial implications, having sensibly decided to move its next financial year-end from 30 June 2019 to 30 September 2019. In the circumstances, it’s hardly surprising that Inland’s shares have reacted positively. Even before factoring in any valuation uplifts the company’s market capitalisation of £127m is 40 per cent below Inland’s end 2018 European Public Real Estate Association (EPRA) net asset value (NAV) of £213m (103.6p per share). The potential for the realisation of substantial gains on the company’s land bank as it passes through the planning process, and an attractive share price discount to NAV, were major bull points in the investment thesis I outlined when I included Inland’s shares, at 57.75p, in my 2019 Bargain Shares portfolio. Strong buy.
spob: Inland Homes’ urban village Simon Thompson June 26, 2019 Inland Homes (INL:68p), a leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south-east of England, has been granted planning consent to create a new urban village of 1,725 homes and 19,000 square metres of commercial space at Cheshunt Lakeside, Hertfordshire. The site is located just outside the M25 and is only 27 minutes from London's Liverpool Street station by train. It’s a significant milestone after Inland entered into a joint-venture partnership to acquire the site in June 2016 with a view to obtaining planning permission and ultimately selling on the land. Under the terms of the joint-venture agreement, Inland has an obligation to fund 50 per cent of the costs of the site and is entitled to receive 50 per cent of the net returns. Together with its joint-venture partner, Inland owns and controls 1,253 of the 1,725 consented residential plots and 4,905 square metres of commercial and educational space within the Cheshunt masterplan area, which has an estimated gross development value of £620m. Inland is the lead developer on the broader masterplan, and is working with the council to deliver it. The planning approval highlights Inland’s strategy of acquiring quality land in areas of high demand, adding significant value by securing planning permission, and then generating value for shareholders through a mix of selective in-house development and by providing a turnkey solution for development partners. Analysts at house broker Panmure Gordon expects the site to be cleared in late summer/early autumn and first delivery of the housing scheduled for mid to late 2021. Taken together with the planning consent gained on Inland’s flagship site at Wilton Park, Beaconsfield, which I covered a fortnight ago ('Inland wins major planning consent', 10 Jun 2019), we can now expect Inland’s end 2018 European Public Real Estate Association (EPRA) net asset value (NAV) of £213m (103.6p a share) to increase sharply when it releases a pre-close trading update in early October 2019, having sensibly moved its next financial year-end from 30 June 2019 to 30 September 2019 to be able to offer greater financial clarity on the Cheshunt Lakes and Wilton Park developments. Analysts are holding fire on upgrading their financial estimates, but it’s clear to me that these two flagship developments have the potential to create additional value in the order of 40 to 50 per cent of Inland’s last reported NAV, albeit the company is likely to be more conservative in its valuation approach in the 2019 accounts. The point is that with the shares trading on a 34 per cent discount to NAV per share prior to analysts releasing significant upgrades, the potential for a material increase in the carrying value of Inland’s two flagship developments is simply not being priced in, nor is their near-term profit potential if Inland decides to sell on parcels of land to major housebuilders. There is undoubtedly demand given the proximity of both schemes to London. The likely realisation of substantial gains on the company’s land bank as it passes through the planning process, and an attractive share price discount to NAV, were the key bull points in the investment thesis I outlined when I included Inland’s shares, at 57.75p, in my 2019 Bargain Shares Portfolio. The company is clearly delivering. Trading on a bid-offer spread of 67.5p to 68p, valuing Inland’s equity at £140m, I continue to rate the shares a strong buy and introduce a target price of 95p to 100p. Strong buy
Inland Homes share price data is direct from the London Stock Exchange
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