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
  0.00 0.0% 58.50 361,092 08:00:00
Bid Price Offer Price High Price Low Price Open Price
58.00 59.00 58.50 58.50 58.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 124.00 3.70 0.79 74.1 134
Last Trade Time Trade Type Trade Size Trade Price Currency
15:12:17 O 292,288 59.00 GBX

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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 58.50p.
Inland Homes Plc has a 4 week average price of 57.70p and a 12 week average price of 56p.
The 1 year high share price is 66.50p while the 1 year low share price is currently 47.25p.
There are currently 228,213,545 shares in issue and the average daily traded volume is 136,941 shares. The market capitalisation of Inland Homes Plc is £133,504,923.83.
p1966: Not strictly share price related, but relevant to both the house building sector as a whole, and INL in particular, so I hope it is ok to share this link on this forum.
grahamg8: Skyship I agree share price performance is sluggish compared to other builders. But is this because INL is a rubbish company or do we have a great buying opportunity with a rerate to look forward to? I don't know the answer. One possible reason for the underwhelming price movement is because of the very high level of debt, compared with say PSN who are awash with spare cash. INL have to reduce debt from future profits, PSN spray out dividends left right and centre.
p1966: ...and you are right to identify GLE; not just a house builder (14k plots, GDV 2bn, target 2k units delivered per year), but has a strategic land division (23.5k plots).What would support the INL share price? Reduction in debt? Further planning approvals?
spob: Exploit Inland’s hidden value ■ Significant Build to Rent sales. ■ Record land bank. Inland Homes (INL:58p), a south-east England-focused housebuilder and brownfield land developer, is trading far better than investors are giving it credit with the shares priced on a thumping 44 per cent discount to proforma European Public Real Estate Association (EPRA) NAV of £234m (103p a share). Importantly, a raft of recent deals should enable net debt of £138m to be paid down, thus unwinding the elevated equity risk premium embedded in the share price. Inland has announced two major sales to Build to Rent (BtR) funds in the past month alone including the £31.5m disposal of 123 units at its Centre Square development in High Wycombe that is scheduled to complete in March 2021. Half the consideration will be paid on completion and the balance in monthly staged payments before then, thus providing significant cash flow. Inland has also exchanged contracts on the £21.3m sale of 85 units at Buckingham House, High Wycombe to another BtR fund with completion slated in early 2022. Inland now has 415 private homes under construction and 1,302 partnership homes across 13 sites. A third of the £156m forward order book are private homes and commercial units. To put this into perspective, Inland sold 226 homes at an average of £287,000 in the 12 months to 30 September 2020, generating revenue of £65m, accounting for just under half the directors’ total revenue guidance of £135m. It's worth noting that net reservation rate per sales outlet increased sharply during the last quarter, driven by a combination of underlying demand in the marketplace and the Stamp Duty Tax holiday. The point is that Inland’s affordable private homes should continue to sell well, while at the same time the company de-risks revenue visibility even further through institutional BtR bulk sales and housing association partnerships. It’s the right strategy to pursue. Furthermore, Inland’s land bank of 11,045 plots is at a record high, of which almost 2,500 plots have planning consent, 2,800 plots are strategic land held under option at a discount to open market value, and the balance are in the planning or pre-application planning stage. This offers scope to continue to realise value from land sales, or through housebuilding activity. True, we need to wait for January’s results to ascertain the level of profitability as there are no earnings forecasts in the market. However, what’s clear to me is that as more sales are booked, and the balance sheet de-gears, then the unwarranted 44 per cent share price discount to NAV should narrow. Prior to the March stock market crash, the shares were priced on a 10 per cent discount to EPRA NAV. Interestingly, Inland’s share price appears to have completed a base formation, having traded in the 47p to 57p range since early April. A likely chart break-out opens the door to a rally towards the 80p previous resistance level. Trading at the 57.75p entry point in my 2019 Bargain Shares Portfolio, and with my standing dish first quarter seasonal housing building sector trade almost upon us (‘Alpha alert for housebuilders’, 3 January 2018), Inland shares are worth buying from both a technical and fundamental perspective. Buy.
p1966: Not INL specific, but positive on the sector. Taken from Hargreaves Lansdown.No recommendationNo news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.(Sharecast News) - UK housebuilders are too cheap to ignore, Jefferies said in a research note on Thursday."With construction looking un-impacted by the latest Covid measures and the strength in the housing market providing increasing comfort on the sustainability of demand, we see the UK housebuilders as oversold," the bank said."News flow on Covid, Brexit, stamp duty and help-to-buy changes will likely create share price volatility near term. Nonetheless, we see current share price weakness as presenting a great entry point for our key picks: Persimmon, Berkeley, Barratt."Jefferies noted that to date, housebuilders have said that local lockdowns such as the one in Leicester have not impacted construction build-out on site. As a result, the bank reckons that similar will be true of Tuesday's step-up in Covid measures and would even be the case in a scenario of a more aggressive lockdown."Reflecting this, the more important impact of the lockdown for the sector will likely be the influence on customer demand," it said. However, it said that with agreed sales up 40% year-on-year, mortgage demand ahead of levels lenders can process, and house price inflation 3-5%, recent housing data, provide increasing comfort on its forecasts."Near term share prices may remain volatile reflecting macro news flow, with an air pocket in company news flow until the November trading updates which should be able to provide colour on demand for housing for April and beyond (i.e. after the expiry of the stamp duty holiday and Help to Buy changes)."Nonetheless, with valuations reflecting house price declines of up to 14%, we believe the profitability and return on equity profile of the sector remains significantly under-estimated."At 1230 BST, Persimmon shares were up 3.2% at 2,401p, Berkeley shares were 1.3% higher 4,154p and Barratt was 3.6% higher at 454.10p.
skyship: Simon Thompson of the Investors Chronicle covers INL quite often - it was one of the stocks in his 2019 Bargain Portfolio. He wrote this update on 23rd March during the crash: ==================================================== Inland Homes (INL:40p), a south-east England-focused housebuilder and brownfield land developer, has reported a bullish interim pre-close trading statement that is completely at odds with the share price de-rating since I updated my 2019 Bargain Shares Portfolio in early February. Current reservation rates have been resilient, there has been no major change in buying interest or visitor numbers to sites in recent weeks, and the company should achieve 65 legal completions worth £17.5m this month, in line with budgets, from its £47.2m forward order book. Analysts at Panmure Gordon only factored in 177 completions for the whole of the 2020 financial year, so the order book mitigates earnings risk, as does the fact that first-time buyers account for the majority of sales, as reflected in an average selling price of only £250,000. In any case, partnership housing is Inland’s fastest growing activity, so is more important as it provides solid cash flow of £7m a month across five sites (all open) and insulates the company from any potential slowdown in open market sales. Inland’s blue-chip client base includes several leading UK housing associations, and negotiations are ongoing regarding further partnership opportunities to meet the untapped demand for new affordable homes. Panmure expects partnership housing sales to increase from £63m to £73m this year, a forecast fully supported by a £86m divisional order book. In addition, Inland generates more than £3m of annual income through brownfield activities, including temporary modular housing business 'hugg homes' which are let to local housing authorities. The balance of Panmure’s full-year revenue estimate of £200m is derived from land sales. Interestingly, Inland’s directors point out that “a number of significant profitable land sales are expected to conclude in the near future”. It could be transformational for the battered share price as it would further de-risk Panmure Gordon’s full-year pre-tax profit and EPS forecasts of £22.7m of 8.9p, respectively. Trading 65 per cent below last reported EPRA net asset value of 113p a share, on 4.5 times forward earnings and offering a 7.8 per cent dividend yield, Inland’s share price should bounce back well above my 57p entry point when the land sales complete. Buy.
spud: Inland Homes PLC Development of the Cavalry Barracks, HounslowSource: UK Regulatory (RNS & others)TIDMINLRNS Number : 8228WInland Homes PLC21 August 202021 August 2020Inland Homes plc("Inland Homes", "Group" or "Company")Asset management division to develop the Cavalry Barracks, HounslowInland Homes plc, the leading brownfield developer, housebuilder and partnership housing company with a focus on the south and south-east of England, today announces that its asset management division has entered into agreements relating to the acquisition and development of one of the largest brownfield sites in London, the 36.7 acre Cavalry Barracks in Hounslow West London.As set out in the Company's report and accounts, a growing part of the Group's business involves procuring sites on behalf of, and providing planning and management services to, investors in the property sector. The Group typically enters into a planning and management services agreement with the investors which includes procuring the opportunity to acquire brownfield land, adding value by managing the planning process and proposing a disposal plan for the consented site. This activity enables Inland Homes to earn substantial fees with a significantly reduced investment.Using this model, the site is being acquired from the Defence Infrastructure Organisation (DIO) who manage the assets of the Ministry of Defence (MOD) with completion being subject to vacant possession and anticipated to be in August 2021. Inland Homes expects to make a planning application for a residentially led mixed use scheme of over 1,000 homes within the next six months. The Group will manage the planning and development process on behalf of the equity investors on this project and will be entitled to receive a significant share of the development profit from this high profile opportunity.The project will have an anticipated GDV in the region of GBP600m. It is currently the home of the Irish Guards who are relocating to Aldershot. The site comprises over 37 acres of land and includes 14 Grade II listed buildings and 19 locally listed buildings together with over 439 existing residential accommodation units.The entire site is allocated for a major mixed-use development via a development brief adopted by the London Borough of Hounslow.Commenting on the transaction, Inland Chief Executive said:"This is our fifth MOD transaction and the largest to date. We have an excellent track record in the early delivery of homes on sites such as this, a significant proportion of which will be affordable, which is particularly important in London Boroughs like Hounslow.Our asset management division now has six live projects in London which have the potential for over 2,700 homes together with employment opportunities. These are:Walthamstow 583 unitsBarking 405 unitsHillingdon 514 unitsStaines 210 unitsHounslow in excess of1,000 unitsIt is a testament to our long and successful track record in Brownfield development that our investors have the confidence to commit significant sums to these projects, particularly in the current challenging economic climate."Barney Hillsdon, Principal at Avison Young who acted on behalf of the DIO added:"This is a fantastic result for both the DIO and Inland during a very difficult time in the market. The site will deliver much needed private and affordable homes for London and will offer a diverse range of product to the market due to the retained heritage buildings on the site".spud
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: 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.
Inland Homes share price data is direct from the London Stock Exchange
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