Income investors looking for shares to buy might want to read on.
That's because listed below are three ASX dividend shares that analysts are recommending as buys.
Here's what you need to know about them:
Charter Hall Group (ASX: CHC)
Charter Hall could be a good ASX dividend share to buy now according to analysts at Citi. It is a property fund manager and developer across the office, retail, industrial and residential sectors.
Citi acknowledges that there are some earnings risks, but its analysts "see the stock as cheap at these levels." This is "especially given a strong portfolio and management track record."
As for dividends, the broker is forecasting dividends per share of 45 cents in FY 2024 and 48 cents in FY 2025. Based on the current Charter Hall share price of $11.55, this will mean yields of 3.9% and 4.2%, respectively.
Citi has a buy rating and a $13.50 price target on its shares.
Rio Tinto Ltd (ASX: RIO)
Goldman Sachs thinks that investors should be buying Rio Tinto's shares right now. It is of course one of the world's largest miners with world-class operations across multiple commodities.
The broker sees the miner as an ASX dividend share to buy because of its "compelling relative valuation vs. peers" and "attractive FCF and Div yield."
Goldman is forecasting fully franked dividends per share of US$4.39 (A$6.56) in FY 2023 and then US$4.51 (A$6.73) in FY 2024. Based on the latest Rio Tinto share price of $128.90, this will mean yields of 5.1% and 5.2%, respectively.
The broker has a buy rating and a $141.80 price target on the miner's shares.
Suncorp Group Ltd (ASX: SUN)
A final ASX dividend share that analysts have named as a buy is Suncorp. It is one of Australia's leading insurance companies.
Goldman Sachs is also a fan of Suncorp. This is due "in large part the tailwinds that exist in the general insurance market – i.e., very strong renewal premium rate increases and the benefit of higher investment yields."
The broker expects this to underpin fully franked dividends per share of 75 cents in FY 2024 and 80 cents in FY 2025. Based on the current Suncorp share price of $13.60, this will mean yields of 5.5% and 5.9%, respectively.
The broker has a buy rating and a $15.13 price target on its shares.
