3 ASX dividend shares named as buys for income investors

Analysts think income investors should be snapping up these stocks.

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Which ASX dividend shares could be good options for investors who are currently searching for an income boost from the market?

Well, let's take a look at a few that have recently been given the seal of approval by analysts.

Here's what they are forecasting from their shares in the near term:

Baby Bunting Group Ltd (ASX: BBN)

The first ASX dividend share for income investors to look at this week is baby products retailer Baby Bunting.

Morgan Stanley thinks investors should stick with the company despite its recent poor performance. This is because the broker believes that headwinds are now easing and that its outlook is becoming increasingly positive.

The broker expects this to support fully franked dividends per share of 6 cents in FY 2024 and then 9 cents in FY 2025. Based on the current Baby Bunting share price of $1.79, this will mean dividend yields of 3.3% and 5%, respectively.

Morgan Stanley has an overweight rating and a $2.20 price target on the company's shares.

Dexus Industria REIT (ASX: DXI)

Dexus Industria could be another ASX dividend share to buy. It is a real estate investment trust that invests in high-quality industrial warehouses across Sydney, Melbourne, Brisbane, Perth and Adelaide.

Morgans is feeling positive about the company, highlighting that strong demand is supporting sky-high occupancy rates.

It is expecting this to underpin 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 $2.90, this will mean dividend yields of 5.65% and 5.7%, respectively.

Morgans currently has an add rating and a $3.18 price target on its shares.


A third ASX dividend share that could be a buy is IPH. It is an intellectual property solutions company with operations across the Asia-Pacific and Canada.

Analysts at Goldman Sachs see a lot of value in the company's shares at current levels. Particularly given that the broker believes IPH is "well-placed to deliver consistent and defensive earnings with modest overall organic growth."

Another positive is that Goldman Sachs is forecasting some big dividend yields from its shares. The broker is forecasting fully franked dividends per share of 34 cents in FY 2024 and 37 cents in FY 2025. Based on the current IPH share price of $6.34, this represents yields of 5.35% and 5.8%, respectively.

Goldman has a buy rating and $8.70 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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended IPH. 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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