If you’re looking to bolster your income with dividend shares in this low interest rate environment, then you might want to take a look at these highly rated shares.
Here’s why they have been rated as buys for income investors:
Aventus Group (ASX: AVN)
Aventus is the largest fully-integrated owner, manager, and developer of large format retail centres in Australia. At present it has a portfolio of 20 centres with 536,000m2 in gross leasable area. Across its centres the company has a diverse tenant base of 593 tenancies, with national retailers representing 87% of its total portfolio.
According to a recent note out of Goldman Sachs, its analysts have a buy rating and $2.76 price target on the company’s shares. The broker is a fan of the company due to its high weighting to every day needs and its opportunities outside the box with its land bank. It feels the latter could create value for shareholders.
Based on the latest Aventus share price, the broker estimates that it offers a forward 5% dividend yield.
Coles Group Ltd (ASX: COL)
Coles is one of Australia’s leading supermarket operators and one of the most recognisable brands in the country. Although 2020 has been tough for many retailers because of the pandemic, this certainly hasn’t been the case for Coles. In FY 2020 the company reported a 6.9% increase in sales to $37.4 billion and a 7.1% lift in net profit after tax to $951 million.
Furthermore, this positive momentum has continued in FY 2021, with Coles delivering first quarter revenue growth ahead of expectations. It reported a 10.5% increase in total sales revenue over the prior corresponding period to $9.6 billion.
In light of this strong start to the year, analysts at Goldman Sachs reiterated their buy rating ($20.50 price target) and lifted their dividend forecast to 64 cents per share dividend. Based on the current Coles share price, this equates to a fully franked 3.55% dividend yield.
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Returns As of 6th October 2020
More reading
- Why the Aventus (ASX:AVN) share price is rising today
- 2 food-based ASX dividend shares to feed your income needs
- Aussie companies blast ‘knee-jerk’ COVID-19 border closures
- ASX 200 Weekly Wrap: ASX continues to hit post-COVID highs
- These ASX dividend shares offer income investors attractive yields
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended AVENTUS RE UNIT. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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