Are you looking for some new ASX dividend stocks to buy? If you are, then it could be worth checking out the three named below.
They have been rated as buys by brokers and are expected to provide investors with major upside and attractive dividend yields in the near term. Here's what you need to know:
The first ASX dividend stock that could be a buy is Endeavour Group. It is the leader in the Australian alcohol retail market through its popular store brands Dan Murphy's and BWS. It also owns the ALH Hotels business, which has over 350 licensed venues across the country.
The team at Morgan Stanley thinks Endeavour would be a top option for income investors. The broker has an overweight rating and $5.30 price target on its shares. This implies potential upside of 32% for investors.
As for income, it is expecting the company to pay fully franked dividends of 19 cents per share in FY 2025 and then 21 cents per share in FY 2026. Based on the current Endeavour share price of $4.00, this will mean dividend yields of 4.75% and 5.25%, respectively.
Another ASX dividend stock that analysts think income investors should be buying is National Storage. It is the largest self-storage provider in Australia and New Zealand. It has over 250 locations providing tailored storage solutions to over 97,000 residential and commercial customers.
The team at Citi is positive on the company and currently has a buy rating and $2.70 price target on its shares. This suggests that upside of 22% is possible from current levels.
In respect to dividends, the broker is forecasting payouts of 11.3 cents per share in FY 2025 and then 11.8 cents per share in FY 2026. Based on its current share price of $2.20, this equates to dividend yields of 5.1% and 5.35%, respectively, for income investors.
Finally, the team at Morgan Stanley is also positive on Stockland and thinks it could be an ASX dividend stock to buy right now.
It is one of Australia's largest diversified property companies with a specialty in residential communities, land lease communities, town centres, logistics, and office real estate. Morgan Stanley recently named Stockland as its preferred exposure to the residential market and sees it as a good option for when interest rates fall.
The broker has put an overweight rating and $6.50 price target on its shares. This implies potential upside of approximately 30% over the next 12 months.
As for dividends, the broker is forecasting payouts of 25.4 cents per share in FY 2025 and then 29.3 cents per share in FY 2026. Based on the current Stockland share price of $5.02, this represents dividend yields of 5% and 5.8%, respectively.
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