If you're an income investor on the lookout for some new additions, then you may want to check out the two ASX dividend shares listed below.
Here's why these giants could be in the buy zone:
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Charter Hall Social Infrastructure REIT (ASX: CQE)
The first ASX dividend share to look at is the Charter Hall Social Infrastructure REIT.
This real estate investment trust has a focus on social infrastructure properties, such as bus depots, police and justice services facilities, and childcare centres. All of which are in demand with end users and command very long leases, as evidenced in its 100% occupancy rate and weighted average lease expiry of 14.6 years.
The team at Goldman Sachs is positive on the company and currently has a conviction buy rating and $4.20 price target on its shares
As for dividends, Goldman is forecasting dividends per share of 17.2 cents in FY 2022 and 18.3 cents in FY 2023. Based on its current share price of $3.93, this implies yields of 4.4% and 4.65%, respectively.
Wesfarmers Ltd (ASX: WES)
Another ASX dividend share that could be in the buy zone is Wesfarmers. It is one of Australia's leading conglomerates with a quality portfolio of retail, industrial, and mining businesses.
Morgans is very positive on Wesfarmers. It believes Wesfarmers is well-placed to benefit when trading conditions improve. Overall, it views the company as a core portfolio holding for long-term investors.
As a result, the broker currently has an add rating and $58.50 price target on its shares.
In respect to dividends, Morgans is forecasting fully franked dividends of $1.62 per share in FY 2022 and then $1.81 per share in FY 2023. Based on the current Wesfarmers share price of $51.17 this will mean yields of 3.2% and 3.5%, respectively.
