Why Telstra (ASX:TLS) and this dividend share are rated as buys

Here are two highly-rated ASX dividend shares…

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If you're wanting to add some ASX dividend shares to your portfolio, then the 2 below could be worth considering.

Here's why ASX analysts are positive about these dividend shares:

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Centuria Industrial REIT (ASX: CIP)

The first ASX dividend share to look at is Centuria Industrial. It is the largest domestic pure-play industrial REIT with a portfolio of high-quality industrial assets underpinned by a high-quality and diverse tenant base.

Centuria Industrial's properties are in key metropolitan locations throughout Australia. Within its portfolio are distribution centres, cold storage, and transport logistics.

One broker that is particularly positive on Centuria Industrial is Macquarie. It currently has an outperform rating and a $4.16 price target. In addition, the broker is forecasting a 17.3 cents per share distribution in FY 2022 and an 18.7 cents per share distribution in FY 2023.

Based on the current Centuria Industrial share price of $3.68, this will mean yields of 4.7% and 5.1% respectively.

Telstra Corporation Ltd (ASX: TLS)

Another dividend share that could be in the buy zone is Australia's largest telco, Telstra.

Telstra has been a very disappointing performer over the past decade. However, the tide is now turning and a return to growth is expected in the near future.

This is due to the success of its T22 strategy and the recently announced T25 strategy.

Telstra's CEO, Andrew Penn, highlighted that T22 was based on transforming the company, whereas T25 will be about driving growth. The telco giant is targeting high-teens underlying earnings per share (EPS) compound annual growth rates (CAGR) from FY 2021 to FY 2025.

Morgans is very positive about Telstra. It currently has an add rating and a $4.55 price target on the company's shares. The broker also expects fully franked dividends per share of 16 cents in FY 2022 and FY 2023.

Based on the latest Telstra share price of $3.99, this will mean a 4% yield for ASX investors.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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