3 excellent ASX dividend shares with 5% to 7% yields to buy

Analysts think these dividend shares are top buys this month.

Do you have room in your income portfolio for some more ASX dividend shares?

If you do, then it could be worth checking out the three shares in this article that have recently been recommended as buys by analysts.

Here's what they are recommending to clients:

Middle age caucasian man smiling confident drinking coffee at home.

Image source: Getty Images

Cedar Woods Properties Limited (ASX: CWP)

The team at Bell Potter thinks Cedar Woods could be an ASX dividend share to buy now.

It is one of Australia's leading property companies, owning a high-quality portfolio that is diversified by geography, price point, and product type.

Bell Potter believes that this leaves it well-positioned to be a big winner from Australia's chronic housing shortage.

It also expects this to support fully franked dividends per share of 39 cents in FY 2026 and then 41 cents in FY 2027. Based on its current share price of $7.27, this equates to 5.35% and 5.6% dividend yields, respectively.

The broker has a buy rating and $10.20 price target on its shares.

Charter Hall Retail REIT (ASX: CQR)

Another ASX dividend share that analysts are tipping as a buy is Charter Hall Retail REIT.

It is a property company that owns a diversified portfolio of convenience-based retail centres that are anchored by supermarkets, service stations, and essential services.

These assets tend to be highly defensive. That's because shoppers continue to spend on groceries and everyday essentials regardless of economic conditions. In addition, it boasts long leases and high-quality tenants, which provide visibility over rental income.

The team at Citi is positive on the company and has a buy rating and $4.50 price target on its shares.

As for dividends, the broker is forecasting dividends per share of 25.5 cents in FY 2026 and then 26 cents in FY 2027. Based on its current share price of $3.86, this would mean dividend yields of 6.75% and 6.7%, respectively.

Premier Investments Ltd (ASX: PMV)

A final ASX dividend share to consider for an income portfolio is Premier Investments.

It is the owner of popular retail brands Smiggle and Peter Alexander, as well as a sizeable stake in appliance manufacturer Breville Group Ltd (ASX: BRG). These assets are consistently generating strong free cash flows, which is usually returned to shareholders in the form of dividends.

Bell Potter is also positive on this one. It expects Premier Investments to pay fully franked dividends of 79.7 cents per share in FY 2026 and then 93.4 cents per share in FY 2027. Based on its current share price of $12.93, this equates to dividend yields of 6.15% and 7.2%, respectively.

The broker currently has a buy rating and $18.00 price target on its shares.

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Charter Hall Retail REIT. The Motley Fool Australia has recommended Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Man with his hands out as if pondering his options.
Exchange-Traded Funds (ETFs)

Do you own this ASX dividend ETF? Fundie explains why 'we aren't fans'

This ASX ETF aims to maximise income using covered call options.

Read more »

Australian dollar notes in a nest, symbolising a nest egg.
Dividend Investing

2 ASX dividend shares with yields above 7%

These businesses are providing significant passive income.

Read more »

A man closely watches a clock.
Dividend Investing

17 ASX shares going ex-dividend next week

Washington H. Soul Pattinson, Perenti, Civmec, and other ASX shares are set to go ex-dividend.

Read more »

A businessman's hands surround a circular graphic with a United States flag and dollar signs.
Dividend Investing

IVV ETF and other iShares funds are paying dividends today. Here's how much

Aussie investors love the IVV ETF, which tracks the US benchmark S&P 500 Index.

Read more »

Elderly woman typing on a laptop.
Dividend Investing

Wesfarmers vs Coles: Which dividend share is better for retirees?

Wesfarmers and Coles are ASX dividend titans for retirees, but I think one shades the other right now.

Read more »

House models with REIT written on one.
Dividend Investing

3 ASX real estate investment trusts paying a dividend yield of more than 7%

If you're after income, these shares could be worth a look.

Read more »

Small kid giving a thumbs up.
Dividend Investing

$4,000 buys 3,065 shares in an impressively reliable ASX dividend stock

This investment is paying incredibly impressive dividends.

Read more »

green arrow rising from within a trolley.
Dividend Investing

Here's the dividend forecast out to 2029 for Woolworths shares

Here’s how big the Woolworths dividends could be in the coming years.

Read more »