Are you looking for some ASX retirement shares to add to your portfolio?
Well, two ASX shares that tick a lot of boxes for analysts are listed below. Here's why they rate them as buys:
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Rural Funds Group (ASX: RFF)
The first ASX retirement share to consider in 2024 is Rural Funds.
This agriculture-focused real estate property trust could be a top option for a retirement portfolio due to the quality of its assets and its long-term tenancy agreements. The latter also includes built-in rental increases, which provides great visibility on its future earnings.
Bell Potter is positive on Rural Funds and has a buy rating and a $2.40 price target on its shares. It notes that it is "trading at its largest discount to market NAV since listing."
As for dividends, it is forecasting dividends per share of 11.7 cents in FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.11, this will mean yields of 5.5%.
Woolworths Limited (ASX: WOW)
Another ASX retirement share that could be a top option for a portfolio next year is Woolworths.
It is the retail conglomerate behind the eponymous supermarket chain, Countdown supermarkets in New Zealand, and Big W.
As we saw during the pandemic, Woolworths has the defensive qualities you would want from a retirement share. But there's more to it than that.
For example, Goldman Sachs believes that its omnichannel advantage and world-class loyalty program leave it well-positioned to deliver strong earnings growth in the coming years. Its analysts "forecast Woolworths will deliver FY23-26E 3-yr group NPAT CAGR of 8.2%."
The broker currently has a conviction buy rating and a $42.30 price target on the company's shares. In respect to income, it is forecasting fully franked dividends per share of $1.12 in FY 2024 and then $1.23 in FY 2025. This represents 3% and 3.3% yields, respectively.
