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
  +0.50p +0.88% 57.00p 311,683 15:29:48
Bid Price Offer Price High Price Low Price Open Price
56.00p 58.00p 57.00p 56.50p 56.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 147.40 19.30 7.64 7.5 115.2

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Date Time Title Posts
25/5/201919:25Inland Homes2,962
30/4/201811:25Inland Homes interview with Hardman & Co1
21/11/201711:22Inland Homes INTERVIEW with Hardman & Co1
17/8/201708:03*** Inland ***6
02/11/201514:26Inland - 20104,708

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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 56.50p.
Inland Homes Plc has a 4 week average price of 56.50p and a 12 week average price of 56.50p.
The 1 year high share price is 73.80p while the 1 year low share price is currently 47.30p.
There are currently 202,098,621 shares in issue and the average daily traded volume is 145,868 shares. The market capitalisation of Inland Homes Plc is £115,196,213.97.
spud: Great news! Certainly undervalued (thanks to a background seller depressing the price) but an ongoing 30% pa uplift in the dividend will have the effect of pulling the share price up by its bootstraps. spud
solarno lopez: A share price of 60p and assets per share in excess of 100p Like you Daicaprice I just dont get it !
spud: Great contract announced this morning - Expect the share price to respond accordingly: The transaction is for a total land and build consideration of £77.7 million, with the land being sold for £14.0 million payable on completion. Inland Partnerships, the fast-growing construction arm of the Group, will undertake the development phase on behalf of Clarion, which is expected to take approximately three years. spud
mfhmfh: I think February 19th could be a big catalyst for the share price. If INL receives approval as is expected. IMHO.
skyship: Positive update from Simon Thompson - he concurs with the collective view here; "I feel the unwarranted sell down in Inland’s shares since the summer represents a repeat buying opportunity, especially as the equity risk premium embedded in the current share price is now at extreme levels."
cerrito: My thoughts on the AGM and corrections welcome. A pretty good turnout-roughly 15/20 private shareholders. Board available both before and after the meeting. Meeting took just over an hour but questions curtailed. Board seemed comfortable in their own skins. All resolutions easily passed; to me most noteworthy was that only 29 m shares voted or a voter turnout of 14 pc. I guess this low turnout can be read that there are no major issues shareholders have- and remember the big problems 6 years ago approx on management renumeration; that said, for me it is not very healthy and reflects the lack of institutions in the shareholder base. Remember that the only institution with a plus 3pc shareholding is Henderson with 4.95pc. Quite alot of discussion on sharebuybacks and why more not being done. Chairman made a comment that if it went down to 30 p they would reassess and did recognize there are loose shareholders.I do not see any more in the near future as they want to keep their powder dry and I personally am OK with that. Quite a bit of comment if they were over diversifying but as can be expected we were assured that there was sufficient management depth. Also told that alot of it was a natural evolution of their core business. Their Social Provider Rosewood will be concentrating on their smaller sites and said shared housing was a particular interest. One shareholder expressed concern that they were taking their eye off the ball of their key skill in getting things through planning. Wilton Park as can be expected was the main topic ; in neither the formal meeting or discussions outside did I get any steer as to when they thought they would get agreement with the South Bucks District Council Officers on what I gather is the remaining issue- the level of affordable housing. As mentioned in the AR the local authority policy is for 40 pc which seems very high in this current climate. Of course getting agreement with Officers is just the first step and then they need to get it through the Committee. They said they are prepared to tough it out and the rent that they are earning covers the finance charges...but of course this is a massive distraction. Wickes said more than once that no way we're they going to knock down buildings which provide security to the Bank to build the new road, noting that Bucks CC are putting in £10.5m for a new road. Not clear what will break this impasse unless Inland go to appeal. Having had a close involvement in the planning process in recent years I find it very strange that SouthBucks have rejected the second report commissioned by them; all seems very peculiar. Asked how much this was valued on the books and the CFO said of the top of his head £55m...compared to total group assets of £300 m although of course we do not know the level of borrowings against it I see nothing in the local rag-South Bucks-since September and no reason for there to have been anything. Wickes very confident that Cheshunt will get through planning. I think I heard him say that Committee will be January 30th. Given that I have been unable to find any evidence of local opposition, I have no reason to disagree with that view. Question asked if zeros were efficient given that the implied interest cannot be offset for tax purposes. The reply was a very firm yes; given lack of covenants, security etcetera zeros provide an invaluable amount of financial flexibility ref funding land without planning consent ,which is a real pain, and jv's. This would have been the principal reason they extended the zeros and increased the amount- for me INL has a good deal. They have just done their first PRS deal on Southampton. No discussion on Brexit either on availability of labour or of market demand. No questions on Hugg Homes- not sure how much this will move the dial on the p&l and I would have thought getting utilities installed would be a real pain; also nothing on their housebuilding which they appeared upbeat in the AGM statement. They seem to have scored a bullseye with the £7m Aston Clinton fee which will be taken into income this year and has negligible costs associated with it. I am surprised that this did not move the sp, given that in 2017/8 pre-tax profit for the whole year was £7m A couple of questions for next time. One is what are the assets in Development properties ?and why are they clarified thus rather than inventory?.. The second is their level of concern about the increase in fixed costs. What will the next RNS say? There will be hopefully one at end of January for Cheshunt planning permission. I see from the Going Concern Statement that they are in discussions to extend loans that mature on December for twelve months but I do not see this as triggering a RNS. All in all seem in good shape bearing in mind a sub 50p share price. I do not see myself as buying more at this stage not because of any issue I have with them but more because I am in a funk on the political situation-which is why I am not buying more of my other housebuilder TEF who produced good results this morning and also have a deflated share price
mip55: No offence taken, but in answer to your question scburbs I chose 2015 figures because that was when the share price was at, or near, its peak. Since then we have experienced an almost continual decline. Wilton Park is clearly a drag but, since we have owned it for 5 years it has presumably generated 5 x 1.5 million in rent for us in that period. I am still to receive another explanation as to why the share price is so unloved by the market to counter my view that the market does not understand where the company is positioning itself. Any comments welcome!
spud: rate this stock highly. Many big house-builders are quite similar. One company that's a little different is Inland Homes (LSE: INL).As well as building houses itself, this £127m firm specialises in buying brownfield sites. It then divides the land into build plots, secures planning consent and sells the plots to other builders.The group's EPRA net asset value per share - an industry standard measure that includes valuation gains - rose by 6.3% to 102.3p per share last year, according to figures published today.Pre-tax profit rose by 8% to £19.3m, and shareholders will see their total dividend rise by 29% to 2.2p per share.However, what's most interesting about this company is that unlike most peers, its shares trade at a big discount to their net asset value. At the last-seen share price of 62p, this stock trades at a 40% discount to net asset value.A potential buyGiven the firm's track record of stable growth, this valuation seems harsh to me. Although rising net debt of £79.7m could be a risk in a severe downturn, I'm not really sure why else this business should be so cheap.Inland said today that its land bank contains 6,870 plots with an expected gross development value of £2.1bn. About 25% of these plots already have planning consent, or will have shortly.If I was a shareholder, I'd sit tight and would consider topping up. With the shares trading on 8 times 2019 forecast earnings and at a big discount to book value, the downside risk seems limited to me. And a 3.5% dividend yield means investors are paid to be patient.spud
hedge fund harry: Forward pe of just 7.9! 2 bargain shares you have to check out today Royston Wild | Monday, 17th July, 2017 | More on: INF INL Photo: Images Money. Cropped. Licence: hxxps:// A slew of positive releases from the housing sector has dragged investor appetite for Inland Homes (LSE: INL) higher in recent weeks. The construction colossus has added 8% in value since the middle of June. But despite this heady ascent, I reckon the AIM-quoted firm remains hugely undervalued by the market. Inland Homes joined its peers in throwing out perky trading details on Monday, advising that the number of open market unit completions soared 27.9% in the 12 months to June, to 188. Revenues are expected to come in line with expectations for the full fiscal year, it advised, at £90m. Without the exclusion of two land sales at Alperton, Greater London and Aylesbury, Buckinghamshire — to be shown as a gain on sale of subsidiary or joint venture — revenue would have risen to £117m, up from £102m a year earlier. The Amersham-based business has invested huge amounts in its construction capacity over the past year, a programme that should deliver robust sales growth in the years ahead as home demand powers along. Chief executive Stephen Wicks certainly painted an upbeat picture today. He said: “A record £1.34bn short-term development pipeline; the creation of a highly experienced construction team which enables us to capitalise on partnership opportunities; and growing private housebuilding along with land sales has resulted in a dynamic, multi-faceted business model which will stand us in good stead for the future.” Inland Homes added that forward sales rose 11.5% year-on-year as of June, to £26.1m as of June, underlining the resilience of buyer appetite. Ripping value The City certainly believes Inland Homes is on the right track, and anticipates a 9% earnings rise in the present fiscal period. As a result, the company sports a very-cheap forward P/E ratio of 7.9 times, no little distance below the long-established bargain benchmark of 10 times. A sub-1 PEG multiple of 0.9 rubber-stamps the homes giant’s brilliant value. And if this wasn’t enough, investors are also expected to enjoy a 1.8p per share dividend, a projection that creates a handy 3.1% yield. While fears of a slowing economy on homebuyer demand continue to linger, I reckon these concerns are more than baked into Inland Homes’ share price right now. Besides, the company’s emphasis on the more-affluent South and South East of England provides an added protective buffer should times become tough. Global superstar Informa (LSE: INF) is another grossly-undervalued growth stock, in my opinion, particularly as its improved international presence following recent expansion in the States, and a steady raft of product introductions, lights a fire under the top line. In 2017 the publisher and events organiser is expected to deliver a 12% earnings advance. And another 7% rise is forecast for next year. These estimates leave the FTSE 100 giant dealing on a prospective P/E ratio of 14.2 times, below the British big-cap average of 15 times. And Informa also carries a very undemanding PEG rating of 1.2. When you throw a chunky 3% dividend yield into the equation too (created by a forecast 20.3p per share dividend), I reckon the London business is worthy of serious attention. Super growth shares to help you retire early But Informa and Inland Homes aren't the only Footsie-listed shares waiting to supercharge your investment portfolio. Indeed, this special report written by The Motley Fool's crack team of analysts identifies what I believe is one of the best growth stocks money can buy. Click here to enjoy this exclusive wealth report. It's 100% free and can be delivered direct to your inbox. Royston Wild has no position in any shares mentioned. The Motley Fool UK has recommended Inland Homes. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.
dt1010: As regular readers of my columns will be aware I like to study stock market history to try to uncover investment trends that have stood the test of time. Undoubtedly, one of the most reliable, and profitable trends over the years has been the tendency of the UK-listed housebuilders to outperform the stock market in the first quarter of the year. And this year was likely to maintain this amazing track record which is why I recommended jumping the gun and buying into the sector early ('A standing dish', 25 November 2014). Fast forward 14 weeks and the average share price gain on the nine listed builders was a thumping 20 per cent by early March, almost five times greater than the return on the FTSE All-share index. This was the cue to bank profits on four of the companies – Bovis (BVS), Redrow (RDW), Galliford Try (GFRD) and Crest Nicholson (CRST) (‘Housebuilders: trading bumper gains’, 9 March 2015). It proved the right decision in hindsight as shares in each company had hit technical resistance and subsequently failed to make any further headway between early March and the end of the month which is when I had originally recommended closing these short-term trading positions. On average shares in the four companies lost 3.4 per cent in value in the last three weeks of March. FTSE 350 Housebuilders price performance (25 November 2014 to 5 March 2015) Company Closing price on 24 November 2014 (p) Latest bid price on 5 March 2015 (p) Share price gain (%) Redrow 270 360.5 33.50% Galliford Try 1,151 1,515 31.60% Crest Nicholson 356 440 23.60% Persimmon 1,495 1,785 19.40% Barratt 450 532 18.20% Bovis 832 982 18.00% Taylor Wimpey 130 150.8 16.00% Bellway 1,829 2,027 10.80% Berkeley Group 2,459 2,683 9.10% Average 20.00% FTSE All-Share 3,591 3,745 4.30% Outperformance 15.70% The five companies I advised running profits on until the end of March – Persimmon (PSN), Barratt Developments (BDEV), Taylor Wimpey (TW.), Bellway (BWY) and Berkeley Group (BKG) – hardly set the world on fire, losing on average 0.8 per cent of their value in that three week period, albeit that was still better than the 2.2 per cent decline in the FTSE All-share index against which I benchmark the share price performances. FTSE 350 Housebuilders price performance (5 March 2015 to 31 March 2015) Company Latest bid price on 5 March 2015 (p) Latest bid price on 31 March 2015 (p) Share price move (%) Redrow 360.5 359.4 -0.31% Galliford Try 1,515 1,425 -5.94% Crest Nicholson 440 425.7 -3.25% Persimmon 1,785 1663 plus 95p special dividend -1.50% Barratt 532 528 -0.75% Bovis 982 932 -5.09% Taylor Wimpey 150.8 155 2.79% Bellway 2,027 1,981 -2.27% Berkeley Group 2,683 2,639 -1.64% Average -2.00% FTSE All-Share 3,745 3,663 -2.19% Outperformance 0.19% I am now out of this trade, and content with the 19 per cent average gain racked up between the end of November and the end of March if you followed my advice to the letter. Clearly, some readers may not have done so, and may have preferred to hold onto all of their positions into April. True, the average gain on the nine housebuilders has been 2.37 per cent this month, but this only makes up for the fall in the sector in the last three weeks of March after I first advised banking profits on some of the shares. The 2.37 per cent average gain in April lags the 4.67 per cent rise in the FTSE All-share index, so the strong upward momentum we witnessed between late November and March is starting to flag. That’s worth noting if you haven’t already banked profits. FTSE 350 Housebuilders price performance (31 March 2015 to 28 April 2015) Company Latest bid price on 31 March 2015 (p) Latest bid price on 28 April 2015 (p) Share price move (%) Redrow 359.4 378 5.18% Galliford Try 1,425 1,500 5.26% Crest Nicholson 425.7 453 6.41% Persimmon 1,663 1,734 -1.50% Barratt 528 527 -0.19% Bovis 932 941 0.97% Taylor Wimpey 155 167 7.74% Bellway 1,981 2,008 1.36% Berkeley Group 2,639 2,540 -3.75% Average 2.39% FTSE All-Share 3,663 3,834 4.67% Outperformance -2.28% Political uncertainty proves a drag It’s easy to understand why this is the case as not only have share prices in the home builders re-rated significantly already, so valuations are now much higher, but the political uncertainty caused by the forthcoming general election is adding additional risk. A Mansion Tax, rent controls and limits on the time developers can sit on land before having to build on it are some of the manifesto proposals which are set to be introduced in the event of the incumbent coalition being ousted by a Labour Party-led government. And it’s a risk I don’t feel comfortable with at the moment given the prospect of another hung parliament, not to mention the outside chance of another general election if a new government is unable to be formed. That’s because The Fixed-term Parliaments Act allows for an early dissolution of Parliament if a motion is passed by a two-thirds majority for an early general election, or if a motion of no confidence is passed and a government isn’t formed within a fortnight of the May election. Frankly, with the Labour Party facing a wipe out in Scotland, then there is a chance that even with the SNP backing in a coalition, a Labour-SNP pact will not have the requisite 326 seats to form a majority government. And unless the Liberal Democrats do better than many pundits are predicting, latest forecasts predict that the party will lose over half of its 57 seats, the current Conservative-Liberal Democrat coalition could also fail to have a working majority in the Commons. Indeed, using the latest predictions from Election Forecast, a team of university researchers using polling data to predict how seats will be distributed in next week’s general election, a Labour-SNP coalition is on course to have 317 seats and a Conservative-Liberal Democrat coalition around 307 seats, both of which are shy of the 326 seats majority required. Of course political deals with minority parties could swing the balance of power for either of these coalitions, and the Liberal Democrats could even form part of a Labour-led government, but with opinion polls indicating the result will be incredibly close, then in the absence of a cobbled together coalition offering incentives to several minority parties, I would not discount the possibility of a political gridlock and another general election in the months ahead. Temptation to bank profits Bearing in mind this back drop, and given valuations across the sector are significantly higher now that they were six months ago, the temptation to bank gains racked up in the past few months could easily deflate share prices over the summer months especially if newsflow is tempered somewhat if homebuyers become more cautious due to the political deadlock. A decisive victory for the Conservative Party would undoubtedly be a positive, and could unleash pent up demand from homebuyers into the housing market, but I am not willing to bet on this possibility right now and feel it’s better to trim exposure at the moment. And that’s why I am running profits on just one listed housebuilder, Aim-traded Inland Homes (INL: 64.5p), for the company specific reasons I outlined in my recent article (‘Decision time’, 16 April 2015). I have also decided to book a massive gain on the holding in FTSE 250 property group Daejan (DJAN: 5,730p), having first recommended buying the shares little over two years ago when the price was 3,300p ('Buy the breakout', 14 February 2013). The shares have been struggling to break the 6,000p level, and I feel investors are likely to react negatively if a Labour government, if elected, goes ahead and imposes rent controls as party leader Ed Milliband has outlined. Daejan is a large private landlord and has significant holdings in the London market so could face a double whammy of a cooling of the London residential property market in general due to the Labour Party’s proposed Mansion tax, and government interference into the free workings of the private sector rental market. So although I still believe Daejan’s shares offer value on a 22 per cent discount to book value, albeit some liquidity discount is required for the fact that the Freshwater family own over 70 per cent of the equity, there is not enough upside left to make it worthwhile holding on given the political uncertainty I have outlined above. Exploiting valuation anomalies There are selective holdings I am keen on irrespective of who is running the country in a few weeks time, one of which is Henry Boot (BHY: 225p) (‘A six-shooter of small cap buys’, 10 March 2015). The 129-year-old Sheffield based construction and property company is likely to be a beneficiary no matter which political party is in power. Henry Boot owns a significant number of oven ready sites which undoubtedly will prove attractive to major housebuilders as I pointed out when I initiated coverage, especially if they are forced through political intervention to ramp out new build output (‘A bootiful investment’, 19 February 2015). I am also maintaining my positive stance on the shares of Mountview Estates (MTVW: 11,000p), a property company which owns more than 2,400 residential properties under regulated tenancies, 329 life tenancies and 1,127 ground rents. Rental returns are already below open-market rates - the payback comes when the property is sold and the company reaps the full vacant market value of the asset – so the business is likely to be largely unaffected by the imposition of rent controls if the Labour Party is elected. Furthermore, the current open market value of these rental properties is £695m, or 62 per cent more than Mountview’s own market value even though the company only has net debt of £63m on its balance sheet. The Labour Party’s freebie to first time buyers – stamp duty exemption on properties worth up to £300,000 – is positive for Mountview given its property resale values are generally below this level. So with the shares trading inline with my recommended buy-in price of 11,000p in my 2015 Bargain shares portfolio, or almost a third below the company’s net asset value after marking property values to their current market prices, I am happy maintaining my buy recommendation. ■ Inland Homes : Buy at 64.5p, target 80p;
Inland Homes share price data is direct from the London Stock Exchange
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