Epson's newly designed Pro Cinema 4040 projector, announced two weeks ago, features 4K and HDR support. It is the lower cost Pro Cinema sibling to the Pro Cinema 6040UB (which stands for "Ultra Black"). The PC4040, along with the new UB projectors has pixel shifting, to work in conjunction with the 4K content to provide visibly superior detail when compared with traditional 1080p projectors!

Epson Pro Cinema 4040 projector - sleek, improved black levels, brighter, 4K support, pixel shifting, and a lot more enhancements
Compared to the 6040UB, the Pro Cinema 4040 a good choice if you've got a room that's never 100% dark where the black level difference is essentially negated, or if your budget is really tight.
In fact, the Epson Pro Cinema 4040, including all the extras (see below), lists for $2699, compared to the 6040UB's $3999 price point. That makes the Pro Cinema 4040, and the Epson Home Cinema 5040UB (which I blogged about recently) the two least expensive projectors on the market today, to support 4K content, including HDR, and the DCI standards.
Update 4/2017: Check out our Pro Cinema 4040 review!
As another major benefit, the Pro Cinema 4040's new lens is motorized, (including focus, zoom, and lens shift).
Despite different LCD panels, the 4040 is almost, but not quite as bright as the 6040UB, and it still has very good black level performance, but definitely not up to the black levels of the Epson 6040UB - (after all, UB = Ultra Black) - with its higher native contrast LCD panels.