Brokers say these ASX 300 dividend stocks are top buys

Apr 17,2024
Brokers say these ASX 300 dividend stocks are top buys

Thankfully for income investors, there are plenty of ASX dividend stocks to choose from on the Australian share market.

But which ones could be buys this week?

Three that analysts are tipping as great options for income investors right now are listed below. Here's what they are saying about them:

The first ASX dividend stock that could be a buy according to analysts is the Charter Hall Retail REIT.

It is a property company with a focus on retail assets. These are predominantly supermarket anchored neighbourhood and sub-regional shopping centres.

The team at Citi likes the company due partly to its "defensive underlying portfolio." It is also expecting some very juicy dividend yields in the near term.

The broker is expecting the company to pay dividends per share of 25 cents in FY 2024 and FY 2025. Based on the current Charter Hall Retail share price of $3.33, this will mean dividend yields of 7.5%, respectively, for investors.

Citi currently has a buy rating and a $4.00 price target on its shares.

Another ASX dividend stock that could be a buy is Healthco Healthcare and Wellness REIT.

It is a real estate investment trust with a focus on health and wellness assets. This includes hospitals, aged care, childcare, government, life sciences & research, and primary care & wellness property assets. At the last count, it had 99% occupancy and a weighted average lease expiry of 12 years.

Bell Potter is positive on the company and has a buy rating and a $1.70 price target on its shares.

As for dividends, the broker is forecasting dividends per share of 8 cents in FY 2024 and 8.3 cents in FY 2025. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.12, this will mean yields of 7.1% and 7.4%, respectively.

Another ASX dividend stock that could be a buy is diversified miner South32.

Goldman Sachs is a fan of the miner due to its positive outlook on copper, aluminium, zinc, and met coal prices. It highlights that these commodities make up an estimated 65% of earnings over the next 12 months.

And while its analysts are not expecting a big yield from its shares this year, they believe this could change from FY 2025 onwards.

Goldman is expecting fully franked dividends per share of 4 US cents in FY 2024, 12 US cents in FY 2025, and then 18 US cents in FY 2026. Based on its latest share price of $3.25 and current exchange rates, this will mean yields of 1.9%, 5.7%, and 8.6%, respectively.

The broker has a buy rating and a $3.80 price target on South32's shares.