Materials loaded as addressables turn pink once a material property changes

The title says it all, but basically when I try to set a material property (.SetFloat, .SetInteger) on a material that is loaded as an addressable, the material instantly turns pink.

The same doesn’t happen if that same material is loaded as a reference (not an addressable).

Is this a known bug or am I missing something?

Here’s an example video. As you can see the card is initially properly loaded, but as soon as we apply a material property (that causes the bend), the shader turns pink.

I’ve finally found that the source of this issue was the way I was handling addressables by releasing them too soon.
Leaving the post up just in case someone runs into the same issue.