Analysts name 3 high yield ASX dividend stocks to buy

These stocks are tipped to provide larger than average yields in the near term.

| More on:
Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The share market is a great place to generate a source of income. That's because there are countless ASX stocks that reward their shareholders with dividends every six months (and sometimes even more frequently).

In addition, as a company grows, often its dividend will grow along with it. This can lead to a growing stream of income without you having to lift a finger.

But which ASX dividend stocks could be top options right now? Brokers say the following high-yield shares are buys:

Accent Group Ltd (ASX: AX1)

The first ASX dividend stock for investors to consider buying is Accent. It is a footwear-focused retailer that owns a growing stable of brands including HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete's Foot.

Bell Potter is positive on the company and has a buy rating and $2.50 price target on its shares.

In respect to dividends, its analysts are forecasting fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.96, this represents dividend yields of 6.6% and 7.4%, respectively.

Healthco Healthcare and Wellness REIT (ASX: HCW)

Another ASX dividend stock that analysts are positive on is the Healthco Healthcare and Wellness REIT.

It is a real estate investment trust with a focus on hospitals, aged care, childcare, government, life sciences and research, and primary care and wellness properties. These are relatively defensive assets that should be in demand whatever is happening in the economy.

Morgans believes the company is well-placed to pay big dividends in the coming years. It is forecasting dividends per share of 8 cents in FY 2024 and 8.3 cents FY 2025. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.13, this will mean yields of 7.1% and 7.35%, respectively.

Morgans has an add rating and $1.50 price target on its shares.

Rural Funds Group (ASX: RFF)

A final ASX dividend stock that could be a buy right now is Rural Funds.

It is a real estate investment trust that owns a high-quality portfolio agricultural assets. Among its properties you will find almond and macadamia orchards, vineyards, water entitlements, cattle and cropping assets.

The team at Bell Potter rates Rural Funds as a buy with a $2.40 price target.

As for income, the broker is forecasting an 11.7 cents per share dividend in both FY 2024 and FY 2025. Based on the latest Rural Funds share price of $2.01, this will mean 5.8% yields 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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Rural Funds Group. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A doctor or medical expert in COVID protection adjusts her glasses, indicating growth or strong share price movement in ASX medical, biotech and health companies
Healthcare Shares

Should I buy CSL shares now for their 'steadily growing' dividends?

CSL has increased its interim and final dividend payouts for four years running now.

Read more »

Hand of a woman carrying a bag of money, representing the concept of saving money or earning dividends.
Dividend Investing

3 excellent ASX 300 income stocks for investors to buy

Analysts think these stocks could be in the buy zone right now.

Read more »

Happy man holding Australian dollar notes, representing dividends.
Dividend Investing

3 of the best ASX dividend stocks to buy now

Analysts have given the thumbs up to these stocks. Let's find out why.

Read more »

Man looking amazed holding $50 Australian notes, representing ASX dividends.
Dividend Investing

2 ASX dividend shares to buy next week

Brokers have good things to say about these income options.

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Dividend Investing

Top brokers name 3 ASX dividend stocks to buy

These dividend shares were give the thumbs up by analysts last week. But why?

Read more »

Man smiling at a laptop because of a rising share price.
Dividend Investing

One ASX dividend machine I'd buy over Fortescue shares right now

When it comes to dividends, growth can be better than a high yield.

Read more »

Excited woman holding out $100 notes, symbolising dividends.
Dividend Investing

3 ASX dividend stocks with great yields to buy today

These dividend options have been given the thumbs up by analysts.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Dividend Investing

How big will the BHP dividend be in 2025?

Let's see if the mining giant will be rewarding shareholders with more generous dividends.

Read more »