Pleasingly for income investors, there are a good number of quality ASX dividend stocks to choose from on the Australian share market.
Two that have been tipped as buys recently are listed below. Here's what analysts are saying about these income options:
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Healthco Healthcare and Wellness REIT (ASX: HCW)
The first ASX dividend stock that has been named as a buy is Healthco Healthcare and Wellness REIT.
It is a property company with a mandate to invest in hospitals, aged care, childcare, government, life sciences & research, and primary care & wellness property assets.
Morgans is positive on the company and has an add rating and a $1.67 price target on its shares. It highlights that "HCW's $1bn development pipeline over the medium-long term" is a reason to be positive.
In respect to dividends, it is forecasting dividends per share of 8 cents in FY 2024 and FY 2025. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.41, this will mean yields of 5.7% in both years.
Rural Funds Group (ASX: RFF)
Rural Funds could be another ASX dividend stock for income investors to buy this month. It is an agriculture-focused real estate property trust.
With Australia the food bowl of Asia, Rural Funds appears well-positioned for growth over the long term. Particularly given its long-term leases and periodic rental increases.
Bell Potter is positive on the company and has a buy rating and a $2.40 price target on its shares. It higlights that "RFF's share price has continued to remain subdued and trading at its largest discount to market NAV since listing."
As for dividends, the broker is forecasting an 11.7 cents per share dividend in FY 2024 and FY 2025. Based on the current Rural Funds share price of $1.86, this represents a yield of 6.3% for investors.
