Are you looking for a passive income boost? Then look no further because listed below are a couple of ASX dividend shares that analysts rate as buys.
Here's what you need to know about them:
Image source: Getty Images
Stockland Corporation Ltd (ASX: SGP)
The first ASX dividend share that could be a buy is Stockland.
It is a property company with a focus on residential and land lease developments, as well as retail, logistics, and office real estate property management.
The team at Citi is positive on Stockland and feels the market is being too negative on its outlook. It highlights that "rebounding residential enquiries in 3Q23 indicate a recovering backdrop."
As for dividends, Citi expects dividends per share of 26 cents in FY 2023 and 27 cents in FY 2024. Based on the current Stockland share price of $4.21, this will mean yields of 6.15% and 6.4%, respectively.
The broker currently has a buy rating and a $4.60 price target on its shares.
Westpac Banking Corp (ASX: WBC)
If you don't already have meaningful exposure to the banking sector, then another ASX dividend share that could be a buy is Westpac.
Morgans remains positive on Australia's oldest bank. This is because the broker believes Westpac "has the greatest potential for return on equity improvement amongst the major banks if its business transformation initiatives prove successful."
In addition, Morgans highlights that its "yield including franking is attractive for income-oriented investors." Speaking of which, the broker is forecasting fully franked dividends per share of $1.49 in FY 2023 and $1.52 in FY 2024. Based on the current Westpac share price of $22.28, this will mean yields of 6.7% and 6.8%, respectively.
Morgans has an add rating and a $24.22 price target on its shares.
