Real-time information is increasingly being implemented in transit networks worldwide. The evaluation of the effect of real-time information requires dynamic modeling of transit operations and of passenger path choices. This paper presents a dynamic transit analysis and evaluation tool that represents time-tables, operation strategies, real-time information, adaptive passenger choices, and traffic dynamics at the network level. Transit path choices are modeled as a sequence of boarding, walking and alighting decisions that passengers undertake when carrying out their journey. The model is applied to the Metro network of Stockholm, Sweden area under various operating conditions and information provision scenarios, as a proof of concept. An analysis of the results indicates substantial path choice shifts and potential time savings associated with more comprehensive real-time information provision and transfer coordination improvements.