Experts say these high yield ASX dividend shares are buys

These dividend shares are tipped to offer investors generous yields…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're looking to boost your income portfolio this month, then you may want to look at the shares listed below.

Here's why these ASX dividend shares could be worth considering right now:

A man smiles as he holds bank notes in front of a laptop.

Image Source: Getty Images

Charter Hall Social Infrastructure REIT (ASX: CQE)

The first ASX dividend share that analysts have named as a buy is the Charter Hall Social Infrastructure REIT.

It is a real estate investment trust that owns a portfolio of social infrastructure properties. These are properties that provide social and community services such as council buildings and early learning centres.

Analysts at Goldman Sachs are very positive on the company. They highlight the Charter Hall Social Infrastructure REIT's solid like for like rental growth, 100% occupancy rate, and a weighted average lease expiry of 14.6 years.

The broker is expecting this strong form to continue and is forecasting dividends per share of 17.3 cents in FY 2023 and 18 cents in FY 2024. Based on its current share price of $3.45, this will mean yields of 5% and 5.2%, respectively.

Goldman currently has a conviction buy rating and $4.35 price target on its shares.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that analysts have tipped as a buy is the HomeCo Daily Needs REIT.

It is a property company with a mandate to invest in convenience-based assets across the target sub-sectors of Neighbourhood Retail, Large Format Retail and Health & Services.

It has the aim of providing shareholders with consistent and growing distributions and appears well-placed to deliver on this according to analysts at Morgans.

Its analysts like the company partly due to its significant development pipeline. They note that this development pipeline is valued at over $500 million, which should underpin solid future growth.

As for dividends, the broker is forecasting dividends per share of 8.3 cents in FY 2023 and 8.7 cents in FY 2024. Based on the current HomeCo Daily Needs share price of $1.25, this will mean dividend yields of 6.6% and 7%, respectively.

Morgans has an add rating and $1.56 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 Scott Phillips.

More on Dividend Investing

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Broker Notes

Why this quality ASX dividend share is tipped to surge 55%

A leading broker expects this ASX stock could rocket 55% atop paying two annual dividends.

Read more »

Happy dad watching tv with kids, symbolising passive income.
Dividend Investing

3 ASX dividend shares I'd buy for reliable passive income

I think building income from ASX shares starts with choosing the right types of businesses.

Read more »

A mature aged man with grey hair and glasses holds a fan of Australian hundred dollar bills up against his mouth and looks skywards with his eyes as though he is thinking what he might do with the cash.
Dividend Investing

Is this one of the best ASX passive income stocks to buy right now?

This business is paying a great level of income…

Read more »

Hand of a woman carrying a bag of money, representing the concept of saving money or earning dividends.
Dividend Investing

1 ASX dividend stock down 43% I'd buy right now

This business is a leading idea for passive income!

Read more »

Australian notes and coins symbolising dividends.
Dividend Investing

$1,000 buys 100 shares in an incredibly reliable ASX 200 dividend stock

This business has been very resilient and still looks like a great buy.

Read more »

Woman holding $50 notes with a delighted face.
Dividend Investing

Why this ASX dividend share is a retiree's dream

This stock can offer investors everything they want in retirement.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

Why ASX dividend investing still works for building long-term wealth

Here's a strategy that continues to deliver results for investors.

Read more »

Happy young woman saving money in a piggy bank.
Dividend Investing

How to build a $10,000 annual income with ASX shares

For me, building income is less about chasing yield and more about consistency, quality, and time.

Read more »