Broker says these ASX dividend shares are buys this month

If you’re looking to boost your income portfolio this month, then you may want to look at the shares listed below that Morgans rate as buys.

Here’s why these ASX dividend shares could be worth considering right now:

HomeCo Daily Needs REIT (ASX: HDN)

The HomeCo Daily Needs REIT could be an ASX dividend share to buy.

It is a property company that invests in convenience-based assets across the target sub-sectors of Neighbourhood Retail, Large Format Retail and Health & Services. It does this with the aim of providing shareholders with consistent and growing distributions.

The team at Morgans appears to believe it is well-placed to deliver on this due partly to its significant development pipeline. The broker highlights that this development pipeline is valued at over $500 million and should underpin solid future growth.

As for dividends, the broker is forecasting dividends per share of 8.3 cents in FY 2023 and 8.7 cents in FY 2024. Based on the current HomeCo Daily Needs share price of $1.18, this will mean dividend yields of 7% and 7.4%, respectively.

Morgans has an add rating and $1.56 price target on its shares.

Macquarie Group Ltd (ASX: MQG)

Another ASX dividend share that could be in the buy zone according to Morgans is investment bank Macquarie.

Morgans likes Macquarie due to its exposure to long-term structural growth areas such as infrastructure and renewables. Its analysts also see potential for the bank to benefit from recent market volatility through its trading businesses and win market share in Australian mortgages.

In respect to dividends, Morgans is expecting partially franked dividends of $7.07 per share in FY 2023 and $7.47 per share in FY 2024. Based on the current Macquarie share price of $162.32, this will mean yields of 4.3% and 4.6%, respectively.

Morgans has an add rating and $215.00 price target on the company’s shares.

The post Broker says these ASX dividend shares are buys this month appeared first on The Motley Fool Australia.

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More reading

• Down 7% in a month, is the Macquarie share price an ASX 200 bargain buy?
• Brokers say these top ASX dividend shares are buys right now
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• What’s the outlook for ASX 200 bank shares in Q2?
• A mortgage ‘battleground’ is coming. UBS names ASX 200 bank shares best placed to win

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 recommended Macquarie Group Limited. 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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