2 excellent ASX dividend shares analysts rate as buys

Here are two buy-rated dividend shares…

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If you're looking for some ASX dividend shares to add to your income portfolio, then you might want to look at the ones listed below.

Here's what you need to know about these highly rated dividend shares:

Centuria Industrial Reit (ASX: CIP)

The first ASX dividend share to consider is Centuria Industrial. It is the largest domestic pure play industrial REIT, with a high-quality portfolio of properties across key metropolitan locations throughout Australia.

These assets include in-demand areas such as distribution centres, cold storage, and transport logistics.

Macquarie is a fan of the company. Its analysts believe its shares are attractively priced and note that its portfolio is well-placed for growth thanks to tailwinds being experienced in the industrial sector.

The broker currently has an outperform rating and $4.27 price target on its shares. And as for dividends, Macquarie is forecasting a 17.3 cents per share distribution in FY 2022 and a 17.8 cents per share distribution in FY 2023.

Based on the current Centuria Industrial share price of $3.83, this will mean yields of 4.5% and 4.6%, respectively

National Australia Bank Ltd (ASX: NAB)

Another ASX dividend share that could be in the buy zone right now is NAB.

It has been tipped as a buy by the team at Goldman Sachs. Its analysts like the banking giant due to its position as the largest business bank. The broker believes this will allow NAB to benefit more from the continued economic recovery.

Goldman also highlights that NAB's cost management initiatives are further progressed relative to most of its peers. This has freed up investment spend to be more directed towards customer experience rather than infrastructure.

All in all, the broker is expecting this to lead to a growing stream of fully franked dividends. It is forecasting 145 cents per share in FY 2022, 154 cents per share in FY 2023, and then 163 cents per share in FY 2024. Based on the current NAB share price of $29.99, this will mean yields of 4.8%, 5.1%, and 5.4%, respectively.

Goldman has a conviction buy rating and $31.33 price target on its shares.

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 has no position in any of the stocks mentioned. 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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