Australia's leading investment experts are always on the lookout for ASX dividend share opportunities that look like they're good value.
Some businesses are considered as ASX growth shares, like Xero Limited (ASX: XRO) and Altium Limited (ASX: ALU).
However, there are a handful of businesses that are both buy-rated and offer a good potential yield. Here are two of them:
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DEXUS Property Group (ASX: DXS)
Dexus describes itself as Australia's leading fully integrated real estate group, managing a portfolio of Australian property worth $45.3 billion. It directly owns $18.3 billion of office, industrial and healthcare properties.
The ASX dividend share says that its $17.8 billion pipeline provides the opportunity to grow both portfolios and enhance future returns.
Dexus says that it's benefiting from key megatrends of urbanisation, technology advances and the growth in pension capital flows. Management thinks the business is well-positioned to continue to leverage these trends to support investor returns.
Its goal is to deliver superior risk-adjusted returns from high-quality real estate and seek opportunities that can deliver sustainable income while growing and diversifying the funds management business.
Valuation gains across the total property portfolio for the period to 31 December 2021 helped the 3.1% increase in the net tangible asset (NTA) per security to $11.77.
It's currently rated as a buy by the broker Morgan Stanley with a price target of $12.57. The broker is expecting Dexus is going to pay a yield of 5% in FY22.
Fletcher Building Limited (ASX: FBU)
Fletcher Building is a manufacturer, home builder, and partner on major construction and infrastructure projects. It has a significant presence in New Zealand but it also has operations in Australia and the South Pacific.
The ASX dividend share recently revealed its FY22 half-year result which saw another period of growth.
Revenue increased 2% to $4.06 billion. Earnings before interest and tax (EBIT) went up 3% to $332 million. Net profit after tax (NPAT) jumped 41% to $171 million.
The second-quarter EBIT was $264 million, up 73% year on year. This offset COVID-19 lockdown impacts of around $105 million of EBIT in the first quarter.
Fletcher Building is expecting the FY22 second half to be "very solid" with forward indicators pointing to continuing volumes.
Beyond this financial year, Fletcher Building thinks it's very well positioned to drive growth. In New Zealand, it's investing in its increased manufacturing capacity and driving product and market growth.
In FY23, it's expecting to further improve BIT margins across the group to 10% in FY23. It has a maturing pipeline of investments that will keep driving growth beyond FY23, according to the company.
Credit Suisse rates Fletcher Building as a buy, with a price target of $9.30. It's expecting that in FY22, the ASX dividend share will have a yield of 6%.
