Income investors are a lucky bunch! The Australian share market is home to a large number of stocks that pay dividends every six months.
But which ASX income stocks could be in the buy zone for investors? Let's take a look at a few that are forecast to have big dividend yields.
Healthco Healthcare and Wellness REIT (ASX: HCW)
Bell Potter thinks that this healthcare and wellness focused property company could be an ASX income stock to buy. It has previously highlighted its "significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand."
As for income, the broker is forecasting dividends per share of 8 cents in FY 2024 and 8.3 cents in FY 2025. Based on its current share price of $1.13, this equates to yields of 7% and 7.3%, respectively.
Bell Potter has a buy rating and $1.50 price target on its shares.
Rural Funds Group (ASX: RFF)
Bell Potter also thinks that Rural Funds could be an ASX income stock to buy. It is an agricultural property company that leases almond orchards, macadamia orchards, poultry property and infrastructure, vineyards, cattle properties, cropping properties, cattle and water rights.
The broker believes these assets will generate enough cash flow to pay dividends per share of 11.7 cents in both FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.02, this will mean yields of 5.8% in both years for investors.
Bell Potter has a buy rating and $2.40 price target on its shares.
Stockland Corporation Ltd (ASX: SGP)
A third ASX income stock that could be a buy is Stockland. It is Australia's largest community creator.
Citi is positive on the company and expects some attractive dividend yields from its shares. It is forecasting dividends per share of 26.2 cents in FY 2024 and 26.6 cents in FY 2025. Based on the current Stockland share price of $4.47, this will mean yields of 5.9% and 6% yields, respectively.
The broker has a buy rating and $5.10 price target on its shares.
Suncorp Group Ltd (ASX: SUN)
Finally, Goldman Sachs thinks that insurance giant Suncorp could be an ASX income stock to buy right now. This is largely due to "the tailwinds that exist in the general insurance market."
The broker expects this to support the payment of fully franked dividends per share of 78 cents in FY 2024 and 83 cents in FY 2025. Based on the Suncorp share price of $16.46, this will mean yields of 4.7% and 5%, respectively.
Goldman has a buy rating and $17.54 price target on its shares.
