Income investors are spoiled for choice on the Australian share market.
There are countless ASX dividend stocks to choose from offering attractive yields. But which ones are buys?
Let's take a look at three that analysts rate highly right now:
Centuria Industrial REIT (ASX: CIP)
Centuria Industrial REIT could be a great ASX dividend stock to buy according to analysts. This pure-play industrial property trust owns a high-quality portfolio of warehouses, logistics hubs, and distribution centres across Australia.
In recent years, the industrial property sector has been one of the strongest-performing segments of the real estate market. This has been driven by the rise of e-commerce, supply chain optimisation, and manufacturing demand.
Bell Potter believes this trend can continue and has put a buy rating and $3.35 price target on its shares.
As for income, it is forecasting dividends per share of 16.3 cents in FY 2025 and then 16.8 cents in FY 2026. Based on its current share price of $2.90, this equates to dividend yields of 5.6% and 5.7%, respectively.
Elders Ltd (ASX: ELD)
Another ASX dividend stock that Bell Potter is positive on is Elders. It is a leading agribusiness company that provides expert advice and services to Australian farmers across a wide range of agricultural products.
The broker highlights that Elders' shares are attractively priced at current levels. It notes that they are trading at around 7.4 times its forecast FY 2025 EBITDA, which is a discount to their long-term average multiple of 8.5 times.
In addition, Bell Potter believes that some attractive dividend yields are coming in the near term.
It is forecasting fully franked dividends of 36 cents per share in FY 2025 and then 43 cents per share in FY 2026. Based on the current share price of $6.02, this would mean dividend yields of 6% and 7.1%, respectively.
Bell Potter has a buy rating and $9.40 price target on its shares.
Transurban Group (ASX: TCL)
Finally, Transurban Group could be an ASX dividend stock to buy now.
It is a toll road giant that operates major motorways across Australia and North America, benefiting from steady traffic volumes and inflation-linked toll revenue.
And with infrastructure assets that last for decades and a strong development pipeline, it could be a great long term pick for income investors.
UBS appears to believe that is the case. It rates Transurban as a buy with a $14.85 price target.
As for income, the broker is forecasting dividends of 65 cents per share in FY 2025 and then 69 cents per share in FY 2026. Based on its current share price of $13.58, this equates to dividend yields of 4.8% and 5.1%, respectively.
