Smart transformers are considered a crucial part of future smart grids as they will operate as the energy router and be able to control the power flows from and to the microgrids since they are placed in the border. A multi-port transformer can integrate different energy resources, loads and energy storage systems, optimizing the power flows between these elements. Combining both concepts, a multi-port smart transformer is obtained that is able to integrate efficiently distributed and renewable energy resources, electric vehicle chargers, prosumers and energy storage in both AC and DC microgrids. Nevertheless, the operation of these transformers, composed of several modules connected in series to the high-voltage grid is not easy, mainly due to the different power consumed or generated by each module. In this paper this issue is analyzed and different operation strategies for coordinating the series-connected modules at the input side are studied by simulation. The paper will expose how it is possible to extend the proper operation of the system if a reactive power controller is implemented.