If you're looking to boost your income portfolio, then you may want to look at the dividend shares listed below.
Here's why these ASX dividend shares have been tipped as buys by analysts at Morgans:
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HomeCo Daily Needs REIT(ASX: HDN)
The first ASX dividend share that Morgans rates highly is HomeCo Daily Needs.
It is a property company that invests in neighbourhood retail properties, retail parks, and healthcare properties.
Morgans currently has an add rating and $1.56 price target on its shares. It commented:
HDN offers investors an attractive distribution yield which is underpinned by contracted rental income. Sites are also in strategic locations with strong population growth. The portfolio has exposure to 'last mile' logistics, as well as a significant land bank with future development potential (38% site coverage with a ~$500m development pipeline).
In respect to dividends, the broker expects dividends per share of 8.3 cents in FY 2023 and 8.7 cents in FY 2024. Based on the latest HomeCo Daily Needs share price of $1.31, this will mean yields of 6.3% and 6.6%, respectively.
QBE Insurance Group Ltd (ASX: QBE)
Another ASX dividend share that Morgans rates as a buy is insurance giant QBE.
Its analysts are bullish on the company due to the positive outlook for policy rate increases, improving investment yields, and its cost cutting. It expects this to lead to QBE's earnings profile improving strongly in the coming years.
As a result, the broker has an add rating and $14.89 price target on its shares. It commented:
We believe tailwinds such as rising bond yields, premium rate increases and cost out will drive an improved earnings profile for QBE over the next few years. The stock also remains inexpensive trading on ~10x FY23F earnings.
In respect to dividends, its analysts are expecting a ~42 cents per share dividend in FY 2022 and then a ~77 cents per share dividend in FY 2023. Based on the latest QBE share price of $12.95, this equates to yields of 3.2% and 5.95%, respectively
