These cheap ASX dividend stocks have 6%+ yields and ~30% upside: analysts

These dividend shares have been given the thumbs up from brokers.

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Are you looking for ASX dividend stocks to buy for a second income?

If you are, then it could be a good idea to check out the two listed below that analysts rate highly.

Here's what they are expecting from these dividend stocks:

Dexus Industria REIT (ASX: DXI)

The first ASX dividend stock that could be a buy is Dexus Industria.

It is a real estate investment trust which primarily invests in high-quality industrial warehouses. At the last count, the fund's portfolio was valued at $1.6 billion and was located across all major Australian cities.

Management believes its portfolio is well-positioned to provide sustainable income and capital growth prospects for shareholders over the long term.

The team at Morgans appears to agree and is forecasting some big dividend yields in the near term.

The broker is forecasting dividends per share of 16.4 cents in FY 2024 and 17 cents in FY 2025. Based on the current Dexus Industria share price of $2.50, this will mean dividend yields of 6.55% and 6.8%, respectively.

Morgans has an add rating and a $3.19 price target on its shares. This implies potential upside of almost 30% for investors.

Rural Funds Group (ASX: RFF)

Another ASX dividend stock that analysts are tipping as a buy is Rural Funds.

It is a real estate investment trust that owns a high-quality portfolio agricultural assets. Among its properties you will find almond and macadamia orchards, vineyards, water entitlements, cattle and cropping assets.

Bell Potter believes that its shares are very attractively priced at present. The broker highlights that "RFF's share price has continued to remain Subdued and trading at its largest discount to market NAV since listing."

As for income, the broker is forecasting an 11.7 cents per share dividend in both FY 2024 and FY 2025. Based on the latest Rural Funds share price of $1.86, this will mean 6.3% yields for investors.

Bell Potter has a buy and $2.40 price target on its shares. This also suggests potential upside of almost 30% for investors.

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Rural Funds Group. 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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