4 ASX income stocks to buy for 4% to 8% dividend yields

Analysts think these stocks are in the buy zone. What are they forecasting for them?

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If you are looking to make some new additions to your income portfolio, then it could be worth checking out the four ASX income stocks listed below.

They have all been named as buys and tipped to provide investors with attractive dividend yields. Here's what you need to know about them:

APA Group (ASX: APA)

APA Group could be an ASX income stock to buy. It is an energy infrastructure business that owns, manages, and operates a diverse portfolio of gas, electricity, solar and wind assets.

Macquarie currently has an outperform rating and $9.40 price target on the company's shares.

As for dividends, the broker is forecasting dividends per share of 56 cents in FY 2024 and 57.5 cents in FY 2025. Based on the current APA Group share price of $8.72, this equates to 6.4% and 6.6% dividend yields, respectively.

Coles Group Ltd (ASX: COL)

Morgans think that this supermarket giant would be a great ASX income stock to buy now.

The broker currently has an add rating and $18.95 price target on its shares.

In respect to income, it is expecting Coles to pay fully franked dividends of 66 cents per share in FY 2024 and 69 cents per share in FY 2025. Based on the current Coles share price of $16.28, this implies yields of approximately 4.1% and 4.2%, respectively.

GDI Property Group Ltd (ASX: GDI)

Bell Potter is tipping this property company as an ASX income stock to buy. It has a buy rating and 75 cents price target on its shares.

The broker believes GDI Property is well-positioned to pay some big dividends in the coming years. It is forecasting dividends per share of 5 cents across FY 2024, FY 2025, and FY 2026. Based on the current GDI Property share price of 61 cents, this implies dividend yields of 8.2% for the next three years.

Rural Funds Group (ASX: RFF)

A fourth ASX income stock that has been named as a buy is Rural Funds. It is a property company that owns a portfolio of high-quality assets across a number of agricultural industries.

Bell Potter is a fan and has a buy rating and $2.40 price target on its shares.

In respect to dividends, the broker is forecasting dividends per share of 11.7 cents in both FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.05, this will mean yields of 5.7% for investors.

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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group, Coles Group, Macquarie Group, and Rural Funds Group. 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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