FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Nungester Paul D Jr   2. Issuer Name and Ticker or Trading Symbol HEALTH CARE REIT INC /DE/ [HCN] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) __X__ Other (specify below) Principal Accounting Officer (Last) (First) (Middle) ONE SEAGATE, SUITE 1500 3. Date of Earliest Transaction (Month/Day/Year) 05/24/2005 (Street) TOLEDO, OH 43604 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/24/2005   M   1,050 A $ 24.42 9,560 D   Common Stock 05/24/2005   M   2,595 A $ 25.82 12,155 D   Common Stock 05/24/2005   S   3,645 D $ 35.25 8,510 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Option (Right to Buy)

$ 24.42

05/24/2005

M

1,050

12/15/2004(1)

12/12/2011

Common

3,150 (1)

$ 0 (2)

2,100

D

Option (Right to Buy)

$ 25.82

05/24/2005

M

2,595

01/15/2005(3)

01/27/2013

Common

10,380 (3)

$ 0 (2)

7,785

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Nungester Paul D Jr ONE SEAGATE, SUITE 1500 TOLEDO, OH 43604				Principal Accounting Officer

Signatures

By: Erin C. Ibele Attorney-in-Fact For: Paul D. Nungester, Jr.		05/26/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Options for the purchase of 5,250 shares of common stock at $24.42 per share were granted to Mr. Nungester on December 12, 2001, which grant has previously been reported. The partial exercise of these options for the purchase of 2,100 shares has previously been reported. Of the remaining options, options for the purchase of 1,050 shares vested on December 15, 2004 and options for the purchase of 1,050 shares will vest on December 15 of each 2005 and 2006.
(2)	The options were granted under the Health Care REIT, Inc. 1995 Stock Incentive Plan and had no acquisition price.
(3)	Options for the purchase of 12,975 shares of common stock at $25.82 per share were granted to Mr. Nungester on January 27, 2003, which grant has previously been reported. The partial exercise of these options for the purchase of 2,595 shares has previously been reported. Of the remaining options, options for the purchase of 2,595 shares vested on January 15, 2005 and options for the purchase of 2,595 shares will vest on January 15 of each 2006, 2007 and 2008.

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