Buy Woolworths and these ASX dividend stocks

Analysts think Woolies and these stocks are buys this month.

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If you are trying to decide which ASX dividend stocks to add to your income portfolio, then it could be worth looking at three listed below that analysts are bullish on.

Here's what you need to know about these income options:

Healthco Healthcare and Wellness REIT (ASX: HCW)

Analysts at Bell Potter think that Healthco Healthcare and Wellness REIT could be an ASX dividend stock to buy. It is a property company with a focus on health and wellness assets. This includes hospitals, aged care facilities, and primary care properties.

The broker believes it is well-positioned to provide investors with some big dividend yields in the coming years. It is forecasting dividends per share of 8 cents in FY 2024 and then 8.3 cents in FY 2025. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.08, this will mean yields of 7.4% and 7.7%, respectively.

Bell Potter has a buy rating and $1.50 price target on its shares.

Stockland Corporation Ltd (ASX: SGP)

Another ASX dividend stock that has been tipped as a buy is Stockland. It is Australia's largest community creator, delivering a range of masterplanned communities and medium density housing in growth areas across the country.

Citi is positive on the company and sees a lot of positives from its plan to acquire the communities business of Lendlease Group (ASX: LLC). It expects the addition to give Stockland's earnings a boost in the near term.

For now, though, the broker 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 $4.17, this will mean yields of 6.3% and 6.4% yields, respectively.

Citi has a buy rating and $5.10 price target on its shares.

Woolworths Limited (ASX: WOW)

Analysts at Goldman Sachs think that supermarket giant and Big W owner Woolworths could be an ASX dividend stock to buy. In fact, the broker is so positive on the retailer that it has its shares on its coveted conviction list.

Goldman believes Woolworths' shares are undervalued at current levels. Particularly given its belief that the company is positioned to deliver solid earnings and dividend growth in the coming years.

In respect to the latter, the broker is forecasting fully franked dividends per share of $1.07 in FY 2024 and $1.13 in FY 2025. This equates to dividend yields of 3.2% and 3.4%, respectively.

Goldman has a buy rating and $40.20 price target on its shares.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 no position in any of the stocks mentioned. 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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