If you're on the lookout for some new additions to your income portfolio, then you may want to look at the two ASX dividend shares named below.
These have recently been named among the top picks of a couple of brokers. Here's what they are saying about them:
Healthco Healthcare and Wellness REIT (ASX: HCW)
Bell Potter is a big fan of this healthcare-focused property company due to favourable tailwinds and its huge addressable market.
The broker currently has a buy rating and a $1.75 price target. It commented:
It is Australia's largest diversified healthcare REIT with a portfolio including investment in hospitals, aged care, childcare, government, life sciences, and primary care & wellness property assets. The tenant base includes a combination of large-scale operators including Healthscope and Acurio, as well as the Australian Government which is the third biggest tenant by gross income. HCW has significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand.
In respect to dividends, the broker expects dividends per share of 8 cents in FY 2024 and 8.3 cents in FY 2025. Based on its current share price of $1.41, this suggests yields of 5.7% and 5.9%, respectively.
QBE Insurance Group Ltd (ASX: QBE)
Over at Morgans, its analysts believe that insurance giant QBE could be an ASX dividend share to buy. Particularly given its positive earnings profile and cheap valuation.
Its analysts have an add rating and a $17.46 price target on QBE's shares. It said:
With strong rate increases still flowing through QBE's insurance book, and further cost-out benefits to come, we expect QBE's earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 8x FY24F PE.
Morgans is forecasting dividends per share of approximately 97 cents in FY 2023 and 137 cents in FY 2024. Based on the current QBE share price of $14.79, this will mean yields of 6.5% and 9.25%, respectively.
