Income investors have a lot of options on the Australian share market. So much so, it can be hard to decide which ASX income shares to buy above others.
But don't worry, to narrow things down for you, listed below you will find three options with good dividend yields that are rated highly by analysts. Here's what they are saying about these shares:
GDI Property Group Ltd (ASX: GDI)
Bell Potter is tipping this property company as an ASX income share to buy.
Its analysts highlight "GDI calling out that following recent leasing success it sees much higher Property FFO on a LFL basis in FY25."
The broker believes this leaves GDI Property 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 56 cents, this implies dividend yields of 8.9% for the next three financial years.
It has a buy rating and 75 cents price target on its shares.
SRG Global Ltd (ASX: SRG)
Bell Potter also thinks that SRG Global could be an ASX income share to buy right now.
It is a diversified industrial services group that provides multidisciplinary construction, maintenance, production drilling and geotechnical services.
The broker believes "SRG's short-to-medium term outlook is reinforced by Government-stimulated construction activity in the Infrastructure and Non-Residential sectors and increased development and sustaining capital expenditures in the Resources industry."
It expects this to underpin fully franked dividends of 4.7 cents in FY 2024 and then 6.7 cents in FY 2025. Based on its current share price of 84 cents, this will mean dividend yields of 5.6% and 8%, respectively.
Bell Potter has a buy rating and $1.30 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Over at Goldman Sachs, its analysts think that Super Retail could be an ASX income share to buy right now. It is retail company behind popular store brands BCF, Macpac, Rebel, and Super Cheap Auto.
Its analysts "believe SUL will display resilience in a softer economic environment that is built upon its competitive advantage of high loyalty (~11.0m active members accounting for >75% of sales) and this will be further bolstered as the company launches the Rebel loyalty program and continues to build personalisation capabilities."
Goldman is expecting the retailer to offer attractive dividend yields in the near term. It is forecasting fully franked dividends per share of 67 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $13.95, this will mean good yields of 4.8% and 5.2%, respectively.
The broker currently has a buy rating and $17.80 price target on its shares.
