Are you looking for some ASX shares to add to your retirement portfolio?
If you are, then the shares listed below could be top options for a retirement portfolio that analysts are bullish on. Here's what you need to know about them:
Rural Funds could be an ASX retirement share to buy. It is an agriculture-focused real estate property trust with a high-quality portfolio of assets including vineyards and orchards.
It could be a good option due to its long-term tenancy agreements (weighted average lease expiry of 12.8 years) and its built-in rental increases. Combined, they provide great visibility on its future earnings.
Bell Potter is a fan of the company and has a buy rating and $2.40 price target on its shares.
As for dividends, it is forecasting dividends per share of 11.7 cents in FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.10, this will mean yields of 5.6%.
Another ASX retirement share to look at is Australia's largest telco, Telstra.
When looking for retirement portfolio additions, you arguably want companies with defensive qualities. Well, Telstra has them in spades. It also has an above-average forecast dividend yield, which is tipped to grow.
For example, Goldman Sachs is forecasting fully franked dividends per share of 18 cents in FY 2024 and 19 cents in FY 2025. Based on the current Telstra share price of $3.75, this will mean yields of 4.8% and 5.1%, respectively.
Goldman also sees plenty of upside for its shares with its buy rating and $4.55 price target.
Another ASX retirement share to consider is Transurban.
It owns a portfolio of toll roads in Australia and North America, as well as a significant project pipeline that should support its long-term growth.
Given that these roads are always in need, particularly given population growth and urbanisation, Transurban also has defensive qualities that could make it attractive for a retirement portfolio.
Citi appears to believe this is the case. The broker currently has a buy rating and $15.60 price target on its shares.
As for income, its analysts are forecasting dividend yields of 4.85% and 5% for FY 2024 and FY 2025, respectively.