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Leading brokers name 3 ASX dividend shares to buy today

When it comes to dividend shares there certainly is a large number to choose from on the Australian share market.

But deciding which ones to buy can be a difficult task. Luckily, brokers across the country have been busy doing the hard work and recommending shares to buy and sell again this week.

Three dividend shares that have been rated as buys are listed below:

Rural Funds Group (ASX: RFF)

According to a note out of UBS, its analysts have retained their buy rating and increased the price target on this agriculture-focused real estate property trust to $2.65. The broker made the move after becoming more confident in its cattle strategy following the positive revaluation of its Rewan and other properties. In addition to this, the broker believes the company is a great option for income investors in a low bond yield environment due to its secure yield and lack of structural challenges. UBS expects Rural Funds to pay a 10.4 cents per share distribution this year and then 10.8 cents per share in FY 2020. This equates to a 4.6% FY 2020 distribution yield.

Super Retail Group Ltd (ASX: SUL)

Analysts at Citi have retained their buy rating and lifted the price target on this retailer’s shares to $10.00. According to the note, the broker made the move due to improvements in the outlook for the retail sector following tax cuts and the recovery in the housing market. Its analysts expect Super Retail to declare a 49.5 cents per share dividend in FY 2019 and then a 52.8 cents per share dividend in FY 2020. The latter equates to a fully franked 5.7% dividend yield.

Tabcorp Holdings Limited (ASX: TAH)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this gaming company’s shares to $5.40. According to the note, the broker believes that the company’s Wagering business has been undervalued by the market, even after factoring in the challenges that it faces. Macquarie expects its shares to re-rate higher once the business shows signs of stabilising. In the meantime, the broker expects a fully franked 22 cents per share dividend this year and then a 23 cents per share dividend in FY 2020. The latter works out to be a dividend yield of approximately 4.9%.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia owns shares of Super Retail Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.