Buy these ASX dividend shares with 5% to 7% yields

Looking to boost your income portfolio with some good dividend yields? If you are, then check out the buy-rated ASX dividend shares listed below.

They have been named as buys and tipped to provide income investors with yields of X to Y. Here’s what you need to know about them:

Healthco Healthcare and Wellness REIT (ASX: HCW)

The first ASX dividend share that could be a buy is HealthCo Healthcare & Wellness REIT.

It is a real estate investment trust with a mandate to invest in hospitals, aged care, childcare, government, life sciences and research, and primary care and wellness property assets.

Bell Potter is a big fan and highlights its “significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand.”

In the near term, the broker is forecasting dividends per share of 8 cents in FY 2024 and then 8.3 cents in FY 2025. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.15, this will mean dividend yields of 7% and 7.2%, respectively.

Bell Potter currently has a buy rating and $1.50 price target on its shares.

IPH Ltd (ASX: IPH)

Another ASX dividend share that could be a buy this week is IPH. It is an intellectual property solutions company with operations across the world.

Analysts at Goldman Sachs are tipping its shares as a buy. The broker believes IPH is “well-placed to deliver consistent and defensive earnings with modest overall organic growth.”

It expects this to underpin fully franked dividends per share of 34 cents in FY 2024 and then 37 cents in FY 2025. Based on the current IPH share price of $6.15, this represents yields of 5.5% and 6%, respectively.

Goldman currently has a buy rating and $8.70 price target on IPH’s shares.

Universal Store Holdings Ltd (ASX: UNI)

A third ASX dividend share that could be a great pick for income investors is Universal Store. It is a youth fashion retailer that operates the Universal Store, Thrills, and Perfect Stranger store brands.

Morgans thinks it would be a top option for investors. It likes the retailer due to its belief that its “growth opportunities are in place” and that “customers continue to respond well to the Universal Store banner.”

In respect to dividends, the broker is forecasting fully franked dividends per share of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on its current share price of $5.19, this will mean yields of 5% and 5.6%, respectively.

The broker currently has an add rating and $6.50 price target on its shares.

The post Buy these ASX dividend shares with 5% to 7% yields appeared first on The Motley Fool Australia.

More reading

• Why brokers say these ASX income stocks are top buys
• Top high-yield ASX shares to buy in July 2024
• 3 high-yield ASX dividend shares to supercharge your passive income stream
• Very big dividend yields are expected from these ASX stocks
• Buy these ASX dividend shares for 5% to 7% yields

Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended IPH. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.