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.

| More on:
A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements

Image source: Getty Images

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

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.

More on Dividend Investing

Young businesswoman sitting in kitchen and working on laptop.
Dividend Investing

Buy Rio Tinto and these ASX dividend stocks

Analysts think the mining giant and these shares could be top options for income investors.

Read more »

A female coal miner wearing a white hardhat and orange high-vis vest holds a lump of coal and smiles as the Whitehaven Coal share price rises today
Dividend Investing

Invest $10,000 in New Hope shares and get $1,006 in passive income

Many ASX investors buy New Hope shares for their high yielding, fully franked dividends.

Read more »

A man in a suit looks serious while discussing business dealings with a couple as they sit around a computer at a desk in a bank home lending scenario.
Dividend Investing

Forget term deposits and buy these ASX 200 dividend shares

Analysts have good things to say about these dividend options.

Read more »

An Australian farmer wearing a beaten-up akubra hat and work shirt leans on a fence with livestock in the background and a blue sky above.
REITs

Should you buy this ASX REIT for its 6% dividend yield?

This expert is telling investors to take advantage of a 6% yield...

Read more »

A happy construction worker or miner holds a fistfull of Australian money, indicating a dividends windfall
Dividend Investing

Here's the BHP dividend forecast through to 2028

Will the Big Australian continue to reward shareholders with big dividends?

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Dividend Investing

Analysts say these ASX 200 dividend stocks are best buys in April

What are analysts saying about these high quality companies?

Read more »

A man in a business suit whose face isn't shown hands over two australian hundred dollar notes from a pile of notes in his other hand to an outstretched hand of another person.
Dividend Investing

Buy these ASX dividend shares for income

Analysts have put buy ratings on these income stocks.

Read more »

footwear asx share price on watch represented by look holding shoe and looking intently
Consumer Staples & Discretionary Shares

Does this ASX 300 retail stock really have a 7.6% dividend yield right now?

Is a 7.67% dividend yield too good to be true?

Read more »