Very big dividend yields are expected from these ASX stocks

Brokers are tipping these buy-rated stocks to provide investors with big yields.

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Looking for big dividend yields? Then check out these ASX dividend shares listed below.

As well as potentially being undervalued, analysts are tipping them to provide larger than average yields in the near term.

Let's see what they are forecasting from these shares:

Eagers Automotive Ltd (ASX: APE)

The first ASX dividend stock that analysts are tipping as a buy is Eagers Automotive. It is the leading automotive retail group in the Australia and New Zealand region with a proud history stretching back over a century.

The team at Morgans remains positive on the company the tough trading conditions it is facing this year. In fact, it thinks that significant share price weakness has created a compelling buying opportunity for income investors.

The broker recently put an add rating and $14.35 price target on its shares.

As well as plenty of upside, its analysts are expecting big yields. They are forecasting fully franked dividends of 72.7 cents per share in FY 2024 and then 74 cents per share in FY 2025. Based on its current share price of $10.21, this represents dividend yields of 7.1% and 7.25%, respectively.

GDI Property Group Ltd (ASX: GDI)

Another ASX dividend stock that could provide big dividend yields is GDI Property. It is a property owner and fund manager with investments in Greater Sydney, Brisbane, Perth, South East Queensland, and North Queensland.

Bell Potter sees a lot of value in its shares at current levels. The broker has a buy rating and 75 cents price target on its shares.

As for that all-important income, the broker 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 57 cents, this implies dividend yields of 8.8% for the next three years.

Universal Store Holdings Ltd (ASX: UNI)

A final ASX dividend stock that could provide great option for income investors is Universal Store. It is a youth fashion retailer that operates stores under the Universal Store, Thrills, and Perfect Stranger names.

Morgans is also positive on the company and believes it is well-placed for growth. It notes that its "growth opportunities are in place" and that "customers continue to respond well to the Universal Store banner."

The broker currently has an add rating and $6.50 price target on its shares.

As for dividends, the broker is forecasting fully franked dividends per share of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on its current share price of $4.99, this will mean yields of 5.2% and 5.8%, respectively.

Motley Fool contributor James Mickleboro has positions in Universal Store. 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 recommended Eagers Automotive Ltd. 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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