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 * HERMAN CHARLES J 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 __X__ Officer (give title below) _____ Other (specify below) VP & Chief Investment Officer (Last) (First) (Middle) ONE SEAGATE, SUITE 1500 3. Date of Earliest Transaction (Month/Day/Year) 03/13/2006 (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 03/13/2006   M   5,879 A $ 25.82 32,810 D   Common Stock 03/13/2006   S   5,879 D $ 36.7556 26,931 D   Common Stock 03/15/2006   J(1) V 3,791 D $ 0 23,140 D   Common Stock 03/15/2006   J(1) V 3,791 A $ 0 14,444 I LLC (1)

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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)

$ 25.82

03/13/2006

M

5,879

01/15/2006(2)

01/27/2013

Common

17,637 (2)

$ 0 (3)

11,758

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
HERMAN CHARLES J JR ONE SEAGATE, SUITE 1500 TOLEDO, OH 43604			VP & Chief Investment Officer

Signatures

By: Erin C. Ibele Attorney-in-Fact For: Charles J. Herman, Jr.		03/15/2006
**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)	The shares are held by an Ohio limited liability company for which the reporting person is the sole manager and, as trustee for a revocable trust of the reporting person, the sole member.
(2)	Options for the purchase of 29,397 shares of common stock at $25.82 per share were granted to Mr. Herman on January 27, 2003, which grant has previously been reported. The partial exercise of these options for the purchase of 11,760 shares has previously been reported. Of the remaining options, options for the purchase of 5,879 shares vested on January 15, 2006, and options for the purchase of 5,879 shares will vest on January 15 of each 2007 and 2008.
(3)	The options were granted under the Health Care REIT, Inc. 1995 Stock Incentive Plan and had no acquisition price.

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