If you are on the hunt for new income portfolio additions, then read on!
Listed below are four ASX dividend stocks that analysts believe could be quality picks for investors this month.
In addition, they are forecasting dividend yields of between ~5% and 7% from them. Here's what you need to know:
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Centuria Industrial REIT (ASX: CIP)
The team at UBS thinks that Centuria Industrial could be an ASX dividend stock to buy.
It is Australia's largest domestic pure play industrial property investment vehicle with a portfolio of high-quality, fit-for-purpose industrial assets situated in key in-fill locations and close to key infrastructure.
The broker is expecting Centuria Industrial's portfolio to support the payment of dividends per share of 16 cents in both FY 2024 and in FY 2025. Based on the current Centuria Industrial share price of $3.15, this represents dividend yields of 5.1% in both years.
UBS has a buy rating and $3.50 price target on its shares.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend stock to look at is HomeCo Daily Needs. It is a property company focused on neighbourhood retail and large format retail assets.
The team at Morgans likes HomeCo Daily Needs due to the resilience of its cashflows and exposure to accelerating click and collect trends.
Morgans expects this to allow the company to pay dividends per share of 8 cents in FY 2024 and then 9 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.22, this will mean dividend yields of 6.6% and 7.4%, respectively.
The broker currently has an add rating and $1.37 price target on its shares.
Inghams Group Ltd (ASX: ING)
Morgans also thinks that Inghams could be an ASX dividend stock to buy right now. It is Australia's leading poultry producer and supplier.
The broker thinks its shares are undervalued given its leadership position and favourable consumer trends.
It also believes that some attractive dividend yields are coming in the near term. Morgans is forecasting fully franked dividends of 22 cents per share in both FY 2024 and FY 2025. Based on the current Inghams share price of $3.64, this will mean dividend yields of 6%.
Morgans has an add rating and $4.25 price target on its shares.
Transurban Group (ASX: TCL)
Finally, analysts at UBS also think that Transurban could be an ASX dividend share to buy this month. It is one of the world's leading toll road operators.
The broker believes that Transurban is positioned to pay dividends per share of 62 cents in FY 2024 and then 66 cents in FY 2025. Based on the current Transurban share price of $12.77, this will mean yields of 4.9% and 5.2%, respectively.
The broker currently has a buy rating and $14.60 price target on its shares.
