I consulted with some seasoned experts and there is agreement that your tree does appear to be planted too deeply. Typically you should see a root flare at the surface. It also appears the tree may have gotten damaged through mowing or trimming. Based on the damage shown in the photo the tree will, at some point, snap or break off. 
The link below gives detailed information on preparing for, planting and caring for a new tree. It is important to have the graft or root flare around 1” above the soil line. News trees are best protected by fencing or a trunk protector. Lastly, mulching 12” or more around the trunk will protect it from lawn maintenance damage. 
https://extension.umn.edu/how/planting-and-transplanting-trees-and-shrubs#container-grown-and-containerized-stock-1400311

Thank you for the info. I agree it was probably planted too deeply and has weed whip blight previously at this rental home I acquired recently but I haven’t seen a tree outgrow rootstock to such a degree. 

A tree that has been grafted to rootstock and not planted appropriately will, over time, decline.