These ASX dividend stocks have been tipped as buys for income investors

Brokers reckon that income investors might want to take a closer look at these shares.

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There are many options for income investors to choose from on the Australian share market.

In order to narrow things down, I have picked out a couple of ASX dividend stocks that analysts rate as buys.

Here's what you need to know about them:

APM Human Services International Ltd (ASX: APM)

The first ASX dividend stock that could be a buy is APM Human Services.

APM is an international health and human services provider. It supports more than 2 million people of all ages and stages of life from over 1,500 sites spanning 11 countries.

Goldman Sachs is a fan of the company and believes the market is "under appreciating APM's ability to generate sustainable earnings growth (GSe 14% EPS CAGR, FY22-25E)."

It also expects this to underpin generous dividend yields. It is forecasting dividends per share of 10 cents in FY 2023 and 11 cents in FY 2024. Based on the current APM share price of $2.10, this equates to yields of 4.75% and 5.2%, respectively.

Goldman has a buy rating and a $3.75 price target on APM's shares.

DEXUS Property Group (ASX: DXS)

Another ASX dividend stock to look at is Dexus.

It is a property company with a focus on owning, managing, and developing office, industrial and retail assets. Among its portfolio are a logistics facility leased to Australia Post, Atlassian Central in Haymarket, and the Rialto Towers in Melbourne.

Analysts at Macquarie are positive on the company. They believe that a recent asset sale supports their view that the company's shares are undervalued.

As for dividends, Macquarie is forecasting dividends per share of approximately 51 cents in FY 2023 and 52 cents in FY 2024. Based on the current Dexus share price of $7.83, this will mean yields of 6.5% and 6.6%, respectively.

Macquarie currently has an outperform rating and a $9.68 price target on the company's 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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended APM Human Services International. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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