Are you looking for dividend shares to buy for passive income? If you are, then it could be a good idea to check out the two listed below that analysts at Morgans rate highly.
Here's what the broker is saying about them:
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Dexus Industria REIT (ASX: DXI)
The first ASX dividend share that could be a buy for passive income is Dexus Industria.
Morgans is a big fan of the industrial and office property company and has it on its best ideas list.
Its analysts believe that Dexus Industria is well-placed for growth thanks to strong demand in the industrial market. They commented:
DXI's portfolio is valued at $1.6bn across 93 properties and is weighted 89% towards industrial and logistics assets. The weighted average cap rate is around 5.1%; WALE +6 years; and occupancy 97.4%. DXI is trading at a discount to NTA, offers an attractive yield with solid underlying portfolio metrics and has near/medium term growth opportunities via the development pipeline as well as rental growth via its industrial portfolio.
As for dividends, the broker is forecasting dividends per share of 16.5 cents in FY 2023 and 16.8 cents in FY 2024. Based on the current Dexus Industria share price of $2.62, this will mean dividend yields of 6.3% and 6.4%, respectively.
Morgans currently has an add rating and a $3.37 price target on the company's shares.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend share that could be a buy for passive income is HomeCo Daily Needs.
It is a property investment company that offers investors exposure to a portfolio of daily needs assets.
Morgans likes the company due to the resilience of its cash flows, its huge development pipeline, and favourable trends such as "accelerating click & collect trends."
In respect to dividends, its analysts are expecting dividends per share of 8.3 cents in FY 2023 and 8.4 cents in FY 2024. Based on the current HomeCo Daily Needs share price of $1.13, this will mean dividend yields of 7.3% and 7.4%, respectively.
Morgans currently has an add rating and a $1.50 price target on HomeCo Daily Needs' shares.
