Are you hunting ASX stocks to buy? If you are, then it could be worth checking out the two stocks listed below. They have both been named as buys and tipped to provide investors with good yields in the near term. Here's what analysts are saying about them: ( ) Bell Potter thinks that HealthCo Healthcare & Wellness REIT could be an ASX income stock to buy.
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. Management notes that its objective is to provide shareholders with exposure to a diversified portfolio underpinned by attractive megatrends. Bell Potter is a big fan and highlights its significant development pipeline and huge addressable market as reasons to buy.
It said: HCW has underperformed the REIT sector last 3 months (-10% vs. +22% XPJ) following bond yield reversion and is attractively priced at 20% discount to NTA (but only REIT to record flat to positive valuation movement at 1H24) with double digit 3 year EPS CAGR given high relative sector debt hedging and ability to grow its $1bn development pipeline via attractive YoC spread to marginal cost of debt. Longer term, HCW has significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand.
In respect to dividends, the broker is forecasting dividends per share of 8 cents in FY 2024 and then .
