I don't have the hand history, since they were unavailable to get because of maintenence.

$1.00-$2.00 blinds, 10 person (full) NL ring table on poker.com.

UTG ($400.00 stack) raises to $8.00. I am next to act and I call with [2s2h]. I have $209.00 in my stack. Three others call to make the pot an even $40.00 before the flop.

FLOP: 8s 4s 2d

UTG checks, I bet $25.00, another player goes all in for $49.75. Fold, Fold, then the UTG player who initially raises calls. I call (keep in mind I could not raise because the player all in had .25 too less to complete a full raise).

TURN: 3s

UTG player instantly goes all in for $350ish. I have $150.00 left in my stack (pot was $190.00). This player was aggressive and also bluffed at times (although I knew he had some sort of hand here, at least AA or KK). He wasn't a great player, maybe not even a good player, but when he acted he usually was strong in his action, not necessarily strong with his hand. I knew he would make this play with a flush, higher set, or an overpair (AA or KK). When he called after the flop I was scared of a bigger set and the flush draw because he checked first.

Finally I fold the hand... did I make the correct decision?

Should I have noticed the short stack of 49.75, and bet accordingly to leave the re raise option open?