If you're looking for ASX dividend stocks that also offer growth potential, Stockland Corporation Ltd (ASX: SGP) and IPH Ltd (ASX: IPH) might deserve a spot on your radar

Despite the recent market dip, both stocks are rated highly by brokers and offer compelling upside if price targets prove to be reasonably accurate.

Are they suitable for your portfolio? Let's dive in and see.

ASX dividend shares in vogue

The first ASX dividend stock on the list is Stockland. It is one of Australia's largest diversified property groups, operating across residential, retail, office, and logistics sectors.

The stock is around 7.5% below its February highs of $5.41 apiece, closing at $5 by the end of Tuesday's session.

Morgan Stanley is one broker that rates the ASX dividend giant a buy with a target price of $6.50 per share, which indicates a potential upside of around 30% from current levels, excluding dividends.

The broker says that interest rate cuts here in Australia could boost Stockland's residential assets, estimating that higher demand in a housing market recovery would directly benefit the company.

KPMG's 2025 Residential Property Market Outlook expects unit prices to rise faster than house prices, aligning with the factors that support Stockland's growth.

Morgan Stanley also projects Stockland to pay dividends of 25.4 cents per share this financial year, growing to 29.3 cents per share in FY26. This implies dividend yields of 5.2% and 6%, respectively.

In total, the broker calls for a potential upside of roughly 37%, combining capital gains and the implied yield for the ASX dividend giant.

IPH 'cheap' based on fundamentals?

IPH Ltd, a leading global intellectual property services provider, offers an attractive dividend yield at its current undervalued price. The company operates under brands like AJ Park, Griffith Hack, and Spruson & Ferguson.

Macquarie labelled IPH as "fundamentally cheap" in a note last month, noting a "number of factors" support the company's second-half earnings growth.

Meanwhile, analysts at investment firm Morgans also rate the ASX dividend stock a buy and set a target price of $6.30 apiece.

IPH shares are down around 11% this year, bringing losses for the last twelve months to just over 25% at the time of publication. Morgans' valuation indicates a potential 40% upside from its current price of $4.49.

Morgans also forecast IPH to pay dividends of 35 cents per share in FY25, which, if correct, would equal a forward yield of 8%.

This brings Morgans' analysis' total projected upside to more than 56%, making IPH seem fairly cheap to me.

Foolish takeaway

Top brokers reckon that both Stockland and IPH are trading at attractive prices following the recent market turbulence.

Whether these individual names are suited to you depends on a number of factors, notwithstanding personal financial circumstances and goals.

Stockland has held onto a 5.7% gain this past year, whereas IPH shares are down more than 25%.