If you are searching for ASX dividend stocks to buy then it could be worth checking out the two in this article.
That's because analysts at Bell Potter are tipping them as buys and forecasting them to provide income investors with attractive dividend yields in the near term. Here's what the broker is saying about them:
Dexus Convenience Retail REIT (ASX: DXC)
The first ASX dividend stock that could be a buy is Dexus Convenience Retail REIT.
It is a real estate investment trust (REIT) that owns a high-quality portfolio of Australian service stations and convenience retail assets, primarily located along the country's eastern seaboard.
Analysts at Bell Potter highlight that the Dexus Convenience Retail REIT has a high dividend yield and trades at a deep discount to its net tangible assets (NTA). They said:
DXC remains one of our preferred ways to play externally managed REITs given its high distribution yield (c.7.1%), price discovery via asset sales (with >10% of the book recycled last 18m), yet trading at a -20% discount to NTA, despite NTA starting to regrow. With EV growth moderating last 6mths, combined with operator reinvestment into the sector (BP for ConvenienceX, Viva for OTR, i7 Holdings for 7/Eleven) and stabilising funding costs, we see a platform to grow from whilst being 'paid to wait' at attractive risk-adjusted pricing.
In respect to income, Bell Potter is forecasting payouts of 20.6 cents per share in FY 2025 and then 21 cents per share in FY 2025. Based on its current share price of $2.78, this equates to dividend yields of 7.4% and 7.6%, respectively.
Bell Potter has a buy rating and $3.30 price target on its shares. This implies potential upside of almost 19% for investors.
Harvey Norman Holdings Limited (ASX: HVN)
Bell Potter also thinks that Harvey Norman could be an ASX dividend stock to buy now.
It is of course one of Australia's largest household and consumer goods retailers with a network of company-owned and franchised stores across the nation and internationally.
The broker is feeling positive about Harvey Norman due to its exposure to the artificial intelligence (AI) megatrend. It also highlights its property portfolio as a reason to be positive. It said:
We see HVN trading attractively at ~15x on a 1-year forward basis with multiple catalysts near/midterm such as improving sales trends in key markets assisted by a sizable upside from the AI driven upgrade cycle/replacement & spend shift to tech, gaining penetration in targeted regions in the UK in addition to the incremental earnings opportunities in its Property division as Australia's largest single owner with a $4.4b global portfolio.
As for dividends, Bell Potter is forecasting fully franked dividends of 25.4 cents per share in FY 2025 and then 28.1 cents per share in FY 2026. Based on the current Harvey Norman share price of $5.06, this will mean dividend yields of 5% and 5.6%, respectively.
It has a buy rating and $6.00 price target on its shares. This suggests that upside of almost 19% is possible from current levels.
