Analysts name 2 high yield ASX dividend shares to buy now

These dividend shares could offer big yields for income investors…

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If you're looking to boost your income portfolio with some new dividend shares this week to combat rising inflation, then the two listed below could be worth considering.

Here's why analysts are positive on these dividend shares right now:

Centuria Industrial Reit (ASX: CIP)

The first ASX dividend share that is rated as a buy is Centuria Industrial. It is a property company with a focus on high quality industrial assets.

Thanks to strong demand for industrial property, and particularly from ecommerce-related tenants, Centuria Industrial has been reporting strong rental income and funds from operations (FFO) growth during the first half of FY 2022.

The good news is that Macquarie appears confident this strong form will continue thanks to ongoing demand for these properties. It currently has an outperform rating and $4.27 price target on the company's shares.

As for dividends, Macquarie is forecasting dividends per share of 17.3 cents in FY 2022 and then 17.8 cents in FY 2023. Based on the current Centuria Industrial REIT share price of $3.58, this will mean yields of 4.8% and 5%, respectively.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that has been rated as a buy is HomeCo Daily Needs REIT. It is another property company but with a focus on convenience-based assets. This includes neighbourhood retail and large format retail (retail parks).

Like Centuria Industrial, HomeCo Daily Needs has been on form in FY 2022 and delivered solid growth during the first half.

Pleasingly, Goldman Sachs believes the company is well-positioned to continue its growth over the medium term thanks to "the shift to omni channel retailing."

In addition, the broker feels HDN is undervalued at its current level given this growth outlook and its diversified tenant base. As a result, the broker has put a buy rating and $1.70 price target on the company's shares.

In respect to dividends, Goldman is forecasting dividends per share of 8 cents in FY 2022 and then 9 cents in FY 2023. Based on the current HomeCo Daily Needs share price of $1.31, this will mean yields of 6.1% and 6.8%, respectively.

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 no position in any of the stocks mentioned. 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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