If you're an income investor, then you might want to read on. Listed below are two ASX dividend shares that have just been rated as buys by Goldman Sachs.
Here's what the broker is saying about these high yield ASX 200 dividend shares:
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Harvey Norman Holdings Limited (ASX: HVN)
The first ASX 200 dividend share to consider is retail giant Harvey Norman.
It has been tipped as a retail share to buy by analysts at Goldman Sachs with a $4.80 price target.
This is due to the broker's belief that Harvey Norman is well-placed to defend its strong market position from online disruption thanks to its favourable customer demographics. Goldman is support this to lead to above consensus earnings and big dividends in the near future.
As for dividends, its analysts are forecasting fully franked dividends per share of 38 cents in FY 2023 and 32 cents in FY 2024. Based on the current Harvey Norman share price of $4.06, this will mean yields of 9.3% and 7.9%, respectively.
Stockland Corporation Ltd (ASX: SGP)
Another ASX 200 dividend share that has been rated as a buy is Stockland. It is a residential and land lease developer and retail, logistics and office real estate property manager.
Goldman Sachs is positive on the company and put a buy rating and $4.40 price target on its shares this morning. The broker commented:
[W]e believe the potential residential headwinds are priced into the share price with SGP trading on a 12mf P/FFO of ~10.3x (vs LT avg of ~14x and our REIT coverage average of ~15.8x) and offering an above sector DPS yield.
In respect to dividends, the broker is forecasting dividends per share of 28 cents in both FY 2023 and FY 2024. Based on the current Stockland share price of $3.48, this will mean yields of 8%.
