Generating a second income from the share market is a smart strategy for investors looking to supplement their earnings.

One of the best ways to do this is by investing in high-quality ASX dividend stocks that offer reliable income streams.

Listed below are three ASX dividend stocks that analysts rate as buys and could help investors build a solid second income. Here's what you need to know about them:

Challenger Ltd (ASX: CGF)

The first ASX dividend stock to consider is annuities provider Challenger.

Challenger plays an important role in Australia's growing superannuation market, offering products that provide retirees with stable income. This exposure to the retirement sector makes it an attractive option for income-focused investors.

Goldman Sachs is bullish on Challenger's prospects, noting that "higher yields should drive a favorable sales environment for retail annuities." The broker expects this strength to translate into solid dividends, forecasting fully franked payouts of 27 cents per share in FY 2025 and then 28 cents per share in FY 2026. Based on Challenger's current share price of $6.09, this implies dividend yields of 4.4% and 4.5%, respectively.

Goldman Sachs currently has a buy rating and a $7.60 price target on Challenger's shares, suggesting meaningful upside potential in addition to a steady income stream.

National Storage REIT (ASX: NSR)

Another ASX dividend stock worth considering is National Storage REIT. It is one of Australia and New Zealand's largest self-storage providers. With over 250 centres serving more than 97,000 customers, National Storage benefits from strong demand for storage solutions from both residential and commercial clients.

Citi is optimistic about National Storage's growth potential, highlighting its development pipeline and recent acquisitions as key drivers of future earnings. These growth drivers should also support rising dividends in the years ahead.

The broker expects National Storage to pay dividends of 11.3 cents per share in FY 2025 and then 11.9 cents per share in FY 2026. Based on its current share price of $2.18, this translates to attractive yields of 5.2% and 5.5%.

Citi has a buy rating and $2.70 price target on its shares.

Telstra Group Ltd (ASX: TLS)

Telstra is a household name in Australia and a favourite among income investors. As the country's leading telco, Telstra generates stable cash flows, allowing it to pay consistent (and growing) dividends year after year.

Bell Potter is bullish on Telstra's outlook and believes it could be a great ASX dividend stock to buy right now.

The broker is forecasting fully franked dividends of 19 cents per share in FY 2025 and 20 cents per share in FY 2026. Based on Telstra's current share price of $3.94, this implies yields of 4.8% and 5.1%, respectively.

Bell Potter has a buy rating and $4.35 price target on Telstra's shares.