SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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

1. Name and Address of Reporting Person^*

IBELE ERIN C

(Last)

(First)

(Middle)

ONE SEAGATE

SUITE 1500

(Street)

TOLEDO

43604

(City)

(State)

(Zip)

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
X	Officer (give title below)	Other (specify below)
	VP & Corporate Secretary

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2004

4. If Amendment, Date of 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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/01/2004		M		297	A	$25.82	44,611	D
Common Stock	09/01/2004		M		3,703	A	$26.125	48,314	D
Common Stock	09/01/2004		S⁽¹⁾		4,000	D	$33	44,314	D

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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option (Right to Buy)	$25.82	09/01/2004		M			297	01/15/2004⁽²⁾	01/27/2013	Common	17,482⁽²⁾	$0.00⁽³⁾	17,185	D
Option (Right to Buy)	$26.125	09/01/2004		M			2,775	12/15/1998⁽⁴⁾	11/18/2007	Common	13,875⁽⁴⁾	$0.00⁽³⁾	11,100	D
Option (Right to Buy)	$26.125	09/01/2004		M			928	12/15/1999⁽⁴⁾	11/18/2007	Common	11,100⁽⁴⁾	$0.00⁽³⁾	10,172	D

Explanation of Responses:

1. The sale transaction was pursuant to Ms. Ibele's 10b5-1 trading plan.

2. Options for the purchase of 21,482 shares of common stock at $25.82 per share were granted to Ms. Ibele on January 27, 2003, which grant has previously been reported. The partial exercise of these options for the purchase of 4,000 shares has previously been reported. Of the remaining options, options for the purchase of 297 shares vested on January 15, 2004, options for the purchase of 4,297 shares will vest on January 15, 2005 and options for the purchase of 4,296 shares will vest on January 15 of each 2006, 2007 and 2008.

3. The options were granted under the Health Care REIT, Inc. 1995 Stock Incentive Plan and had no acquisition price.

4. Options for the purchase of 13,875 shares of common stock at $26.125 per share were granted to Ms. Ibele on November 18, 1997, which grant has previously been reported. Options for the purchase of 2,775 shares vested on December 15 of each 1998, 1999, 2000, 2001 and 2002.

Remarks:

	Erin C. Ibele	09/02/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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