April 11, 2016 08:00 PM

Three’s company for Chad Lowe!

The Pretty Little Liars star and his wife Kim welcomed their third child, daughter Nixie Barbara Lowe, on Friday, March 18, he confirms to PEOPLE.

“She came a little early, but she’s small and mighty,” Lowe, 48, tells PEOPLE exclusively. “All is well.”

Nixie’s first name references the water sprites of German folklore, and “seemed like a good fit because we’re both avid surfers — my wife more so than me — and are involved in the Waterkeeper Alliance,” the actor and director explains. When Nixie arrived earlier than expected, making her a Pisces, the moniker seemed perfect. Her middle name honors Lowe’s late mother.

Already parents to daughters Fiona Hepler, 3, and Mabel Painter, 6½, “we’re wonderfully outnumbered, I like to say,” Lowe tells PEOPLE with a laugh. “We feel so fortunate.”

Christopher McDonald Photography

“We are so thrilled that our family is growing,” the actor and director told PEOPLE exclusively in December.

“Mabel and Fiona can’t wait to be big sisters … Kim and I are studying up on zone defense!”

The family with Chad’s brother Rob in December – Axelle/Bauer-Griffin/FilmMagic

And with Kim’s previous pregnancies under his belt, Lowe — who recently directed episodes Life in Pieces and brother Rob‘s show The Grinder, as well as his own — definitely knows the drill.

“I’m trying to bank some sleeping hours, which is a little tough,” he told PEOPLE shortly before Fiona’s birth.

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The Lowes began dating in January 2007 and tied the knot in front of family and friends during an oceanside ceremony in Los Angeles in August 2010.

— Sarah Michaud and Anya Leon

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