If you're looking for income, then it could be worth checking out the three ASX dividend stocks listed below that analysts are bullish on.
Here's what you need to know about these income options:
Image source: Getty Images
Accent Group Ltd (ASX: AX1)
The first ASX dividend stock that has been given a buy rating is footwear-focused retailer Accent.
The team at Bell Potter is positive on the company due to "continuing casual footwear trends and as sports, fitness & wellness related spending remains a priority."
Another positive is that the broker is expecting some big dividend yields in the near term. It is forecasting fully franked dividends per share of 12 cents in FY 2024 and then 14.1 cents in FY 2025. Based on the latest Accent share price of $2.02, this represents dividend yields of 5.9% and 7%, respectively.
Bell Potter has a buy rating and a $2.80 price target on its shares.
Dexus Convenience Retail REIT (ASX: DXC)
Another ASX dividend stock that analysts are positive on is Dexus Convenience Retail REIT.
Bell Potter is also a fan of the convenience retail and service station property fund. It highlights that "DXC trades at a circa 34% discount to stated NTA which we think is overly punitive for a sub-sector where there is clear price discovery, and investors for commercial real estate have a clear preference for smaller cheque size assets."
In respect to dividends, the broker is forecasting dividends per share of 20.9 cents in FY 2024 and 20.5 cents in FY 2025. Based on its current share price of $2.56, this equates to yields of 8.15% and 8%, respectively.
Bell Potter has a buy rating and a $2.85 price target on its shares.
HomeCo Daily Needs REIT (ASX: HDN)
Finally, the team at Morgans believes that HomeCo Daily Needs could be an ASX dividend stock to buy.
It is a property company with a focus on neighbourhood retail, large format retail, and health and services. HomeCo Daily Needs has a quality tenant base with over 80% either ASX-listed and/or national retailers.
Pleasingly, Morgans believes the company is in a position to provide big dividend yields in the coming years. It is forecasting dividends per share of 8.3 cents in FY 2024 and then 8.5 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.25, this will mean yields of 6.6% and 6.8%, respectively.
Morgans has an add rating and a $1.50 price target on its shares.
