Are you looking for ASX dividend shares to add to your income portfolio in November?
If you are, then you may want to look at the two named below that have been tipped as buys by analysts.
Here's why the broker rates these dividend shares highly right now:
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Healthco Healthcare and Wellness REIT (ASX: HCW)
The first ASX dividend share that has been named as a buy is Healthco Healthcare and Wellness REIT.
It is a health and wellness-focused real estate investment trust. The company currently has $1.6 billion of assets under management across 36 properties with 99% occupancy and a weighted average lease expiry of 12 years.
Bell Potter is positive on the company and earlier this week initiated coverage on it with a buy rating and a $1.75 price target. It believes the company has a "significant platform to grow from as the largest listed diversified healthcare REIT."
As for dividends, the broker is forecasting dividends per share of 8 cents in FY 2024 and 8.3 cents in FY 2024. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.40, this will mean yields of 5.7% and 5.9%, respectively.
Wesfarmers Ltd (ASX: WES)
Another ASX dividend share that has been named as a buy is Wesfarmers.
It is the investment company behind a wide range of high-quality businesses. These include Bunnings, Covalent Lithium, Kmart, Officeworks, Priceline, Target, and WesCEF. It is also very close to completing the acquisition of Silk Laser Australia Ltd (ASX: SLA).
Morgans is a fan of Wesfarmers and believes it could be well-placed to continue its solid performance in the near term thanks to its focus on value.
Its analysts are expecting this to lead to fully franked dividends per share of $1.91 in FY 2024 and $2.18 in FY 2025. Based on the current Wesfarmers share price of $52.88, this will mean yields of 3.6% and 4.1%, respectively.
Morgans has an add rating and a $55.15 price target on Wesfarmers' shares.
