3 ASX dividend shares to buy for a passive income boost

Analysts believe these shares are top buys.

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If you want to strengthen your income portfolio this month with some new additions, then it could be worth looking at the ASX dividend shares listed below that brokers rate as buys.

Here's what they are forecasting from them:

Deterra Royalties Ltd (ASX: DRR)

The first ASX dividend share that could be a buy for passive income is Deterra Royalties.

It owns a portfolio of royalty assets across a range of commodities. This includes royalties held over BHP Group Ltd's (ASX: BHP) Mining Area C in the Pilbara region of Western Australia.

Morgan Stanley continues to see it as a top option for investors and is expecting some big dividend yields in the near term. It is forecasting fully franked dividends per share of 37 cents in FY 2024 and 34 cents in FY 2025. Based on the current Deterra Royalties share price of $4.97, this will mean yields of 7.4% and 6.8%, respectively.

The broker has an overweight rating and $5.65 price target on its shares.

Dexus Industria REIT (ASX: DXI)

Another option for income investors to look at is Dexus Industria. It is a real estate investment trust that owns high quality industrial warehouses across Sydney, Melbourne, Brisbane, Perth, and Adelaide.

Morgans is bullish on Dexus Industria and believes its portfolio will support the payment of dividends per share of 16.4 cents in FY 2024 and 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.87, this will mean dividend yields of 5.7% and 5.8%, respectively.

The broker currently has an add rating and $3.18 price target on its shares.

Healthco Healthcare and Wellness REIT (ASX: HCW)

Analysts at Bell Potter see Healthco Healthcare and Wellness REIT as an ASX dividend share to buy.

It is a health and wellness focused real estate investment trust with a focus on hospitals, aged care facilities, and primary care properties.

Bell Potter expects the company to pay dividends of 8 cents per share in FY 2024 and 8.3 cents per share in FY 2025. Based on its current share price of $1.35, this represents dividend yields of 5.9% and 6.15%, respectively.

Bell Potter has a buy rating and $1.70 price target on its shares.

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 no position in any of the stocks mentioned. 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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